General Idea about Business Ethics

The meaning of ethics
• Ethics is a conception of right and wrong conduct. Ethics tell us whether our behavior is moral or immoral and deal with fundamental human relationships.
•Another definition from The Josephson Institute of Ethics states:
“Ethics is about how we meet the challenge of doing the right thing when that will cost more than we want to pay”
 Ethical Principles are guides to moral behavior.

Understanding Right and Wrong

• Developing your own ‘Moral Compass
• How Should I live?
• The Value of a Value – intrinsic; instrumental
• Value Conflicts
• Doing The Right Thing
• The Golden Rule – Do unto others as you would have them do unto you. 

Why should business be ethical?

• To meet demands of business stakeholders that require high levels of ethical performance and social responsibility.
•  To enhance business performance since according to scholars ethics pays.
• To comply with legal requirements since doing business ethically is also often a legal requirement.
•  To prevent or minimize harm to the general public and the corporation’s stakeholders.
• To promote personal morality since most people want to act in waysthat are consistent with their own sense of right and wrong.

Ethical Dilemmas accure where the decision you must make requires you to make a "right"choice.

Business Ethics refer to he application of general Ideas to business behavior.

Moral agency within organisations refer to the ability of individuals to exercise moral judgment and behaviour in an autonomous fashion.

Normative discussion is concerned with rules and principles that govern our thoughts and actions.

Descriprive discussion focuses on how things are and they should be.

Reflection implies careful consideration of ethical issues. Reflexive mean to turn back on one's own mind to consider one's own values and personality.