What are Business Ethics?

In the business environment, there are number of different ethical and moral dilemmas that may arise. Typically, they tend to deal with interpersonal relationships, financial aspects as social obligations. In this article, I will give you some information on the different aspects of business ethics.

If you work in or on a business, it is important that you examine the ethical principles that govern your choices. This is especially true in the 21st century, where the marketplace has become more ethically focused. For example, many businesses are now feeling a social responsibility to cut back on their pollution in the environment. Of course, there are certain pollution walls they have to follow, but many of them believe it is ethical responsibility to do more than just what the law requires.

Business ethics start with determining what the exact purpose of the business or company is. For example, a corporation has an ethical duty to secure the maximum return to its shareholders. Therefore, one could conclude that it would be unethical for the company not to act in the interests of its stockholders, as it relates to giving them a higher return on investment.

At the same time, the business has a certain social responsibility. Again, this will depend upon what you feel your extent to society is, beyond just economic and capitalistic motives.

Also, there are ethical dilemmas which may arise between different companies. For example, there is a lot industrial espionage that is going on. This could be something as simple as technological surveillance or trying to learn other businesses trade secret. Isn't this ethical?

One of the biggest aspects of business ethics is human resource management. This deals with the employer and employee relationship, and covers the rights and duties that the employer is obligated to extend to the employee, and vice versa. Here, the business ethics deal with discrimination, privacy, and fairness of the employment contract.

Within every business there are marketing ethics to be considered as well. While there is a certain amount of flexibility and manipulation that is allowed with marketing, especially as it relates to hyperbole, there needs to be an ethical line drawn somewhere.

Also, you have to develop ethics on the accounting process, production, intellectual property, knowledge and skills.

In conclusion, I have discussed with you several different facets of business ethics in this article.