Business Ethics and Corporate Governance, Second Edition

SUMMARY

‘Ethics’ and ‘morality’ though used interchangeably are two different concepts. ‘Morality’ according to philosophers refers to human conduct and values and ‘ethics’ is the study of a set of principles that define human character or behaviour in relation to what is morally right or morally wrong. The principles do not lead to a single course of action but provide a means of evaluating and deciding among competing options.

Ethics is considered a normative study, that is, an investigation that attempts to reach normative conclusions. Ethics, in business relates to human conduct in a business organization. Ethical theories in business include the consequentialist and non-consequentialist normative theories and the normative themes of egoism, ...