Ethics in Business

Ethics or moral philosophy is a branch of philosophy that "involves systematizing, defending, and recommending concepts of right and wrong behavior".

The field of ethics, along with aesthetics, concerns matters of value, and thus comprises the branch of philosophy called axiology.

Business ethics is the study of appropriate business policies and practices regarding potentially controversial subjects including corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities.

Advantages of Business Ethics:

~Provide a Competitive Advantage in Terms of Customers.

~Improve Employee Happiness.

~Attract More Investors.

~Better for Society.

~Limited Ability to Maximise Profit.

~Time Consuming to Implement the Practices.

Businesses play a huge role in culture and society in general.

They not only take up the most amount of time in most people's lives, but they also help create innovations and make important technological advancements.