Business Ethics

The word “ethics” is derived from the

Greek word ethikos meaning custom
or character.
‘Ethics is a code of behaviour
considered correct.’
 Ethics, as a science, involves
systemizing, defending and
recommending concepts of right and
wrong behaviour.
 Principal of Ethics

Personal Ethics Professional Ethics

Personal Ethics

• Concern and respect for the

autonomy of others
• Honesty and the willingness to
comply with the law
• Fairness and the ability not to take
undue advantage of others
• Preventing harm to any creature
Professional Ethics

• Impartiality: objectivity
• Openness: full disclosure
• Confidentiality: trust
• Due diligence/ duty of care
• Fidelity to professional responsibility
• Avoiding potential or apparent
conflict of interest
Business Ethics

“ Business ethics is the art and

discipline of applying ethical
principles to examine and solve
complex moral dilemmas.”
Ethical Problems

• Selfishness of a few
• Competitive pressure on profits
• The clash of personal values and
business goals
• Cross-cultural contradictions in global
business operations
What is not business ethics?

• Ethics is different from religion

• Ethics is not a synonymous with law
• Ethics standards are different from
cultural traits
• Ethics is different from feelings
• Ethics is not a science
• Ethics is not just a collection of values