Business Ethics

1.  Business ethics is the application of general ethical principles and standards to business behavior. 2. Business ethics does not really involve a special set of ethical standards applicable only to business  situations. 3. Ethical principles in business are not materially different from ethical principles in general.

Core Concept

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Business ethics concerns the application of general ethical principles and standards to the actions and decisions of companies and the conduct of company personnel.

Where Do Ethical Standards Come from—Are They Universal or Dependent on Local Norms and Situational Circumstances?

The School of Ethical Universalism

According to the school of  ethical universalism, some concepts of what is right and what is wrong are  universal; that is, they transcend all cultures, societies, and religions.

To the extent that there is common moral agreement about right and wrong actions and behaviors across multiple cultures and countries, there exists a set of universal ethical standards to which all societies, all companies, and all individuals can be held accountable.

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