ethics
Post on 19-Jul-2015
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SUMMARY: This chapter provides an insight into the
subject of ethics and business ethics. Many
philosophers have expressed different views about
ethics. But they all agree that, in essence ethics deals
with what is right or wrong.
Similarly the term business is defined as a primary
economic institution through which people in modern
societies carry on the task of producing and
distributing goods and services.
Thus, business ethics is nothing but an application of
ethical judgments to business activities. There was an
argument whether ethics should form a part of
business or not. This resulted in three different views:
Unitarian view, Separatist view and Integration view.
Unitarian view argues that morality and ethics are
related to business.
The Separatist view expressed that, business should concentrate on profits, and ethics and
morality do not form a part of business. The Integration view defined a new area called
business ethics, where ethical behavior and business are integrated. The external forces like
government, market system, law and services will guide the ethical behavior of the
business. Finally, the chapter discusses about the need or necessity for business ethics -
business in order to survive in the long run should concentrate on the welfare of the society.
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