Lesson 7: Introduction to Business Ethics What is business ethics? -EthicsoStudy of what is good and evil, right and wrong, and just and unjust-Moral ConductoRelates to principles of right and wrong in behaviour-Business EthicsoConcerned with good and bad or right and wrong behaviour and practices that take place in business-Ethics and Law oThe law reflects society’s codified ethics, and represents an ethical minimum. oEthics often represent a standard that exceeds the legal minimum Learning Objectives: 1.Describe how the public regards business ethics. 1.Public’s interest in business ethics appears to have increased during the ast 3 decades 2.Public’s interest in business ethics has been spurred by media 2.Define business ethics and appreciate the complexities of making ethical judgments. 1.Business Ethics Definition: 1.The study of what is good and evil, right and wrong, and just and unjust actions in business. It involves a discipline that examines good or bad practices within the context of moral duty and obligation.