Business Ethics Ethics And Social Code Essay - 1422 Words

INTRODUCTION Business ethics is a form of ethics which is applied in the field of business and it deals with the ethical issues and principles arising in a business background. In short business ethics means to carry on business for the human welfare and the benefit of the society. Business ethics is the study of business situations, activities and decisions where issues of right and wrong are addressed (Trevino.,1986)†. 1. Nature of Business ethics: The following are the features of business ethics: †¢ Etiquette or Social code: - Business ethics is a social code. For a successful and useful business a code of conduct should be followed. It tells us about the DO s and Don’ts in a business environment and helps us to guide business for the welfare of human and society (Blom.,2000). †¢ Old concept:- We can trace the concept of business ethics to a very ancient period even with the development of human civilizations. †¢ Related to moral and social values: - Business ethics works based on social and moral principles in a society. It gives equal benefits to all social groups, avoids indiscrimination, and provides integrity for the welfare of the society. It works against the exploitation of the people. †¢ Provides Security to different Social groups: - It provides equal rights to different social groups including consumers, governments, and small entrepreneurs. †¢ Autonomous:- Business ethics of a businessman should be uncompelled and free willed. 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