Definitions:

What Is Business Ethics?

Business ethics is the study of how a business should act in the face of ethical dilemmas and
business is governed, how stocks are traded, a business' role in social issues, and more.

Example:

Harassment and Discrimination in the Workplace

Health and Safety in the Workplace

Social Media Rants 

Normative ethics
Normative ethics is the study of ethical behaviour, and is the branch of philosophical ethics
that investigates the questions that arise regarding how one ought to act, in a moral sense . It
includes the formulation of moral rules that have direct implications for what human actions,
institutions, and ways of life should be like.
Example:
The Golden Rule is a classic example of a normative principle. The Golden Rule is the
principle of treating others as one wants to be treated. It is a maxim that is found in most
religions and cultures.

Descriptive Study of Ethics:

A descriptive study is one that does not try to reach any conclusions about what things
are truly good or bad or right or wrong. Instead, a descriptive study tries to describe or
explain the world what people think about morality or when they want to describe
how people actually behave.

Example:

Muzammil steal a drug to save his wife, or refrain from theft even though that would lead to his wife's
death.

Virtue Ethics:

Virtue ethics is person rather than action based: it looks at the virtue or moral character of
the person carrying out an action, rather than at ethical duties and rules, or the
consequences of particular actions.
Example:
Honesty, courage, compassion, generosity, fidelity, integrity, fairness, self-control, and
prudence are all examples of virtues.
Justice:
Justice, for many people, refers to fairness. But while justice is important to almost everyone, it
means different things to different groups.

Example:

Social justice is the notion that everyone deserves equal economic, political, and social opportunities
irrespective of race, gender, or religion.

Altruism:

Altruism is a consequentialist ethics. Like utilitarianism, no specific acts are prohibited or

required; only outcomes matter. That explains why there aren’t lifestyle requirements for the
altruist.
Example:

 Helping an elderly person across the road, or taking time to give directions to a stranger who has
lost his way.

Egoism:

Ethical egoism18: whatever action serves my self-interest is also the morally right action.
What’s good for me in the sense that it gives me pleasure and happiness is also good in the
sense that it’s the morally right thing to do
Example:
Psychological egoism asserts that a person will always act in their own self-interest, even
when it appears as though they aren't. Imagine that someone tells you that they volunteer
at a soup kitchen once a month because they want to help the homeless.