Meaning of Business Ethics-

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Ethics is the set of universally accepted moral principles and values that govern the behavior of a person or group in terms of what is right and wrong. Ethics is concerned with how people think about and behave towards each other, how the consequences of their decisions and behavior impact human life.

Business ethics is about the rightness and wrongness of business practices. Business ethics is guided by principles of commercial relationships and right and moral standards applied within an enterprise that indicate what is good and right for business.

Ethics is the basis for developing a system of morality and the moral laws that evolve from ethics. Morality is the activity that governs appropriate human conduct in a given culture. People’s behavior is guided by moral rules and obligations that show how to behave. People have many moral obligations in their lives. For example, it is a moral obligation to care for parents and children, and even to support one’s country.

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