What is Business Ethics?

Business ethics is a form of applied ethics that scrutinizes ethical principles and moral or ethical problems that occur in a business environment. In the more conscientious marketplaces of the 21st century, the demand for more ethical business processes and actions (referred to as ethicism) is mounting. Also, pressures for the application of business ethics are being exerted through enactment of new public initiatives and laws.

What is Business Ethics?

Business ethics demand that a company examines its behavior towards the outside world. It takes into consideration morality, ethical reasoning and ethics application. For instance, the business manager's moral philosophy of situations do affect the manager's ethical beliefs. Moral philosophy pertains to the overall guiding belief system behind the individual's perception of right or wrong.

It is important to be acquainted with moral philosophy, ethical reasoning, and especially the application of ethics to business and management. Ethical theories and concepts are important to resolving moral problems confronting business. Employees and managers must integrate moral concerns into their decision-making process.