Business Ethics & Corporate Governance

SUMMARY: This chapter provides an insight into the subject of ethics and business ethics. Many philosophers have expressed different views about ethics. But they all agree that, in essence ethics deals with what is right or wrong.

Similarly the term business is defined as a primary economic institution through which people in modern societies carry on the task of producing and distributing goods and services.

Thus, business ethics is nothing but an application of ethical judgments to business activities. There was an argument whether ethics should form a part of business or not. This resulted in three different views: Unitarian view, Separatist view and Integration view. Unitarian view argues that morality and ethics are related to business.