Business Ethics

Posted: August 5th, 2013

Business Ethics

Good strategies are firmly founded on reputable, ethical business practices by an entity. Good ethics within the business world cannot be ensured physically as individuals within the business exercise independence. However, businesses can ensure business through the aspect if virtue ethics. In that, the consequences of acting with or without adherence to ethics draw different outcomes or consequences. Business ethics can assume numerous ethical theories for the ethics utilized in conduct of business within an entity. This ethic lays emphasis on consequentialism as it focuses on the results of an act. If the gains from an act are good, an act could be considered as ethically and morally sound.

In conclusion, ethical and unethical conducts within the business world are on an evolution path as the meaning of ethics and such conduct has new meaning within the business world. Thus individual entities have their own interpretation of what is ethically and morally sound within their field of operation. Hence, what was traditionally termed as ethical practice in the business realm is no longer ethical in the modern world. This is a precise illustration of the evolution of morals and ethics within the society