Business Ethics Introduction

Ethics is a social science subject which is concerned with social values and moral principles of decent human behaviours.

Business Ethics which is sometimes referred to as corporate ethics is the professional ethics which observes ethical values or ethical troubles that arise in a business environment. It is implemented in all the aspects of business behaviour and is relevant to the behaviour of works and the whole organizations.

Business Ethics provides the proper business policies and practices related to strong controversial issues, for instance, corporate governance, bribery, insider trading, corporate social responsibility, biases and fiduciary responsibilities.

A business must be run under some basic principles such as it has to provide quality goods and services to their consumers at reasonable prices and it should avoid adulteration, unfair malpractices, and misleading advertisements. As far as a concern with the workplace environment, business ethics facilitate the workers and the organization both as they both have a code of conduct which provides them the security of their legal and fundamental rights.

This unit aims to define the business ethics and morals comprehensively and introduces the different steps of values identification. The unit also describes the reasons for bothering ethics and illustrates Kohlberg’s six stages or three levels of moral development along with presenting the model overview.