Chapter 1

Ethics in Commerce

Ethics Defined

When I do good, I feel good; when I do bad, I feel bad. That’s my religion.

—Abraham Lincoln, American president

Ethics is a branch of moral philosophy. It is a set of principles to govern human conduct as practiced by a particular person as well as in concert with a specific society or culture group. It therefore includes institutions and organizations. Ethics within a commercial setting are reflective of rights or wrongs as defined by the business organization as it pursues its strategic objectives. The study of ethics is basically concerned with identifying, assessing, and selecting the appropriate values to be used as standards of judgment and then applying such determinations to achieve acceptable ...

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