CHAPTER 1

What Do We Mean by Ethics?

Ethics: A General Description—Ethics or Morals?

Being a professional in any discipline usually results in tough decision making. Difficult circumstances are extremely possible to arise, circumstances which require, apart from a concrete technical and knowledge background, an inner mature personality which will be able to take the right decisions at the right point in time. Such decisions will not only be critical in terms of the very business, but also be very important in terms of creating or sustaining the right equilibrium inside the company and between the company and the surrounding society where the company in question operates.

But what do we mean by the term ethics and is there any kind of difference ...

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