BUSINESS ETHICS

• Ethics : “the discipline dealing with

what is good & bad “
• Business Ethics : “It is primarily
concerned with relationship of
business goals & technique to
specific human goals “
• Business Ethics by Wheeler :”It is an
art or science of maintaining
harmonious relationship with society
its various groups & institution as
well as re-organizing the moral
responsibility for the rightness or
wrongness of business conduct “
Features / Characteristics of Business
Ethics.
•Ethical values :business community form
large part of the society and its action and
are bound to have direct impact on the well
being and welfare of the society.
Business affects society in terms of what it
does ,what product its supplies ,therefore it
is necessary that business community need
to conduct its activities with self-check ,self
control ,self – sacrifice keeping always in
mind the interest of community at large .
•Relative term:
Concept of morality & immorality differ
from one individual to another or
society i.e. what is moral in one society
may be immoral in other .
•Interest of society:
Do first good to the society and then to
itself .it is socially responsibility toward
employees , consumers , shareholders
etc who contribute to the success of
the business.
• Provides framework:
Business bound by social rules &
regulations .its expected to confine
activities within the limits of social
,legal ,cultural and economic
environment.
• Code of conduct (CC):
CC or professional ethics provides
guidelines to regulate business
activities on legal ,moral ,social and
ethical principles .
• Voluntary :
Its like self discipline rather than
imposed discipline therefore
acceptance of the ethical values in
business is voluntary and cannot be
enforced by the law.
Need / Importance of
Business ethics to
society
• Survival of business :
A firm may have short term and quick
gains by resorting to unethical
means and disrespecting social
welfare such firms grow faster and
are out of the business faster .
• Protection of consumer rights:
The application of BE will help to
confer and implement consumer
rights .This will enhance the
strengths of individual consumer.It
can be use o check malpractices
like
 adulteration ,unfair trade practices
and to make the working of business
consumer oriented.
• Concept of socialism
It states that gains in business must
be shared by all and not by proprietor
alone .i.e. by employees
,shareholder ,suppliers ,government
etc.
• Interest of industry :it is necessary to
safeguard the interest of small scale
firm .this helps ssu to estaiblish their
• Their positions and fight for their
rights if the industry follows a code of
ethics .
THANK YOU 