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Ethics in Business and Corporate Governance-1

Ethics in Business and Corporate Governance-1

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Published by shwetajsrjain

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Published by: shwetajsrjain on Feb 12, 2010
Copyright:Attribution Non-commercial


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Ethics In Business AndCorporate Governance.
1-Ethics In Business.
Ethics In Business.
Ethics deals with Ideals.
Hence ethics is said to be Normative Science.
A Normative Science seeks to determine Norms, Ideals, Standards or Values.
It is generally recognized that there are three Ideals of Human Life, Viz, Truth,Beauty, and Goodness.
They correspond to three aspects of our experience: Thinking, Feeling andWilling.
Logic deals with the Ideal of Truth, Aesthetic deals with Beauty, and Ethics isconcerned with the Ideal of Good.
Ethics is not concerned with Human Conduct as it is, but as it Ought To Be.
It passes Judgments of Value upon Human Actions with reference to the MoralIdeal.
The Judgments of a Normative Science like Ethics are Judgments of Value, statingwhether a Particular Conduct is in Conformity with the Moral Ideal or the Ideal Of Goodness.
Ethics In Business (Cont’d).
Moral Judgments are not descriptive, but are Prescriptive.
They state What we Ought to Do, not What we Actually do.
They evaluate our Conduct as Right or Wrong.
Since Ethics is the Normative Science of Conduct, its Functionis to Judge the Moral Worth of Conduct with reference to aNorm or Ideal or Standard. The Scope of Ethics is very wide.
Ethics covers virtually all aspects of our life, for there is noConduct which is free from Moral Considerations.
As A Science of Conduct, it is concerned with the Ideal or Standard to which our Conduct should Conform to.
Hence Ethics enquire into the Nature of the Springs of Actionor Impetus, the Forces that Impel men to Action, Motives,Intentions, Nature of Voluntary and Involuntary Actions etc.

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