What are business ethics?

While most people took the time to define their personal morality, the concept of business ethics has only recently begun under intensive control. After Enron was in the center of the scandal, including his irregular accounting practices in 2001, it seemed that the highly profile business manager seemed charged with greed, fraud and corruption almost every day. In response to public outrage, the business community began to focus more on supporting ethical behavior. Now it is common for large and small businesses to formalized a list of ethical instructions for employees to follow themselves. Without profit, the company loses value and employees eventually lose their jobs. However, business ethics does not allow society to do everything that is necessary to make money. The company dictates that businesses must provide safe working conditions and use manufactory practices that do not unnecessarily damage the environment. Business ethics also requires companies to provide shareholdersM Precise financial data and avoided advertising for their products and services to consumers under false pretexts.

The study of business ethics is sometimes referred to as applied ethics because it attempts to translate utilitarism, theory of social contracts, deontology and other theoretical principles into acceptable rules for behavior in various real world situations. At the university, many schools now have programs that encourage students to develop awareness of business ethics. These classes usually use case studies as a basis for discussing what ethical behavior. Lower level classes are sometimes required for a university business title, while MBA -working students can specialize in management and business. While many people feel that classes discuss ethics are beneficial, others say it is difficult to predict how students will behave as soon as they are out ofschool and the working world.

The government may, to some extent, regulate ethical behavior by adopting laws that require companies to take certain steps. In many ways, however, professional organizations can be best equipped to pass on a sense of business ethics to a specific industry. Organizations such as Public Relations Society of America, the National Independent Automobile Association of Car Dealers, Rested Subscribing Company and the National Associations of Real Estate Associations have a code of ethical behavior that members are obliged to comply and provide regular educational events to support open discussions on business ethics.