7. Business Ethics - 7 Business Ethics What are business...

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7. Business Ethics What are business ethics? - the study of what is right and wrong in business, Ethics generally- the study of what is just and unjust Almost everyone knows what ethical business actions should be 0. A few common guidelines resolve most ethical issues for most people 1. They allow us to make decisions, just or unjust 0. Eighth Commandment forbids stealing 1. Buyers should not be purposely deceived 0. this principle dates back to Mosaic law, Code of Hammurabi, Roman Law and others 2. generally, ethical business practices support 2. truth telling 3. honesty 4. protection of life 5. respect for rights 6. fairness 7. obedience to law 3. not all ethical issues are this obvious however Two Theories of Business Ethics 0. Theory of Amorality 0. business conducted without regard for society’s views of ethical behavior solely for economic self interest 1. best businessmen are selfish, commerce is amoral 2. the natural market mechanism guarantees that business success will aid humanity 3. though not openly, this still guides many business decisions (competition makes everything
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7. Business Ethics - 7 Business Ethics What are business...

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