Definition of Business Ethics
Ethics in its plane sense means the proper way of doing something in everything we do. The act should be acceptable and also should be as per the acceptable practices of society. Act which is line with the moral principles is called ethical.
Ethics need not be the law or derived from law. 1st question would arise is that whatever act is being done, is it as per the moral principles, if the answer is yes then it is ethical. Again ethics need not be related to the religion but rather it is way of doing anything which is decided by principles of humanity. The origin of ethics can be linked to religion, or human conscience, past experiences or experience of good people and finally political too.
Again ethics can be a behavior of a person as an individual what he deems as correct and it might not be specified anywhere. These are the standards for behavior which are already set by the society or the standards set by the person himself to follow. Ethics or the standards are set to ensure that the person or society performs in a direction which supports the living for all and which is not in the line of deteriorating the values or practices of the society.
What is the Need for Ethics
Ethics are required at home, they are required in the work and even the travel or wherever you go, ethics becomes part of your behavior. It depends upon the reasonableness of the action at that particular point of time.
Many of the ethics have become part of law such as murdering is wrong or robbery is wrong and there are punishment for such wrongs.
How does it work for the person
Ethics affects people by determining how they lead their lives and make decisions on a day to day basis. Ethics practiced on a regular basis decides the character of the person and to an extent provides the moral map. It sometimes creates a situation of conflict in decisions where ethical decision is found to be challenging.
Ethics per se is one person’s behavior however it does concern with other people’s interest or the interest of the society. Most of the good corporate have incorporated the Code of Ethics as part of the induction program and also to govern the actions of the executives on a regular basis. There are set standards which people are required to follow and any violation of such codes call for punishment as mentioned under the code.