Importance of Studying Business Ethics

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Business Ethics

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Importance of studying Business Ethics

The way the business is operated by someone, not only impacts the other members of the company but even the larger communities too. Business ethics applies a code of conduct to the business decisions and operations. Studying business ethics have two major importances. Firstly, it improves the reputation of the business by having a positive impact on the society and customers. Secondly, it helps in becoming a better business men as well as human being. Ethical studies bring a person towards creating a moral environment by providing a set of moral terminologies to handle ethical issues.

Foundation and History of business ethics and theory

There is no proper defined history of business ethics. However, it depends on how a person may perceive it with time. The historical overview of ethics will need thousands of years of description of the philosophy, cultural influences, social and religious writings of ethical topics. For thousands of years in philosophy and religion, ethics has existed as a field. It is applied to various business activities in the way similar to that of everyday’s life. The same ethical norms and values are applied to businesses which are applied in personal life.

There are many philosophers who contributed to the foundations of business ethics. The philosophers, who were concerned regarding the macro / normative relationships of society and business before 1960, contributed the most towards business ethics. The time period from 1960 to 2008 shaped the current view of business ethics. The ethics programs in corporations, which we see today, are the result of this period and it has responsible in developing public policies and global ethics.

References

Ferrell, O. C., & Fraedrich, J. (2014). Business ethics: Ethical decision making & cases.

Cengage learning.