Business ethics can be a broad notion when you don’t know it. Are we speaking about an ethics in the business? Or doing some business in the ethics fields? For a lot of people, this word doesn’t mean much, and we would like to clarify the situation.
Social responsibility is king
Finally, when we speak about business ethics, we speak about social responsibility. To better understand, we propose you to read a part of an interessant article you can find on this page: http://managementhelp.org/businessethics/
The concept has come to mean various things to various people, but generally it’s coming to know what it right or wrong in the workplace and doing what’s right — this is in regard to effects of products/services and in relationships with stakeholders. Wallace and Pekel explain that attention to business ethics is critical during times of fundamental change — times much like those faced now by businesses, both nonprofit or for-profit. In times of fundamental change, values that were previously taken for granted are now strongly questioned. Many of these values are no longer followed. Consequently, there is no clear moral compass to guide leaders through complex dilemmas about what is right or wrong. Attention to ethics in the workplace sensitizes leaders and staff to how they should act. Perhaps most important, attention to ethics in the workplaces helps ensure that when leaders and managers are struggling in times of crises and confusion, they retain a strong moral compass. However, attention to business ethics provides numerous other benefits, as well.