Ethics in business… is a myth

Ethics comes from the Greek word ethos. Ethos means character and habits. Today the word has a wide range of meanings. Ethics refers to a person’s character and also to a set of rules that determine right and wrong. In general, ethics means what is called morality, and unethical means immorality. Unethical means bad or wrong behaviour.

According to William H. Shaw, “Business ethics is the study of right and wrong, right and wrong, of human behaviour in the context of business. Morality also deals with business ethics and takes precedence over other criteria, including self-interest.

When someone recognizes a moral principle, it implies motivation to follow that principle. Morality also transcends self-interest. An ethical environment and ethical issues are an important part of the modern business world. Without ethics, the business world would no longer be an organization in general. All business success stories have a deep ethical dimension. This aspect is followed as a basic rule of all progressive organizations in the world.

Without high ethical standards in its corporate culture, the company would not be able to satisfy such a high level of awareness and high level of constant demand for its products. In the age of globalization, the corporate culture must be correct and the product quality must be consistent. Otherwise the company cannot exist.
Business ethics are moral rules and principles adopted by the parties doing business themselves, and there is no enforcement agency to enforce such laws.

Business ethics have evolved over decades and centuries. When business ethics are violated, there is no remedy other than moral pressure. Business ethics work well for running a business confidently and without risk. 

Back to top button