Ethics In A Business Environment

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Ethics are“Moral Standards” or a “System of morals”. Ethics that examine ethical principles and moral or ethical problems arise in a business environment are business ethics. Business ethics are applicable to all situations of business management and is relevant to the business conduct of individuals and the entire establishment. Ethics, not like the color of skin, an individual inherits from his parents. It is the moral philosophy involves basic principles of decent human conduct and the concepts of right and wrong behavior. Business ethical norms reflect the norms of each historical period. With the passage of time, norms evolve. Business Ethics is a term used very broadly throughout the world. “Religion” is the most important factor in…show more content…
The onus/obligations that business has towards society is termed as Corporate Social Responsibility (CSR) which are categorized as Economical, ethical, legal and philanthropic. CSR is a concept which states that companies not only consider their profitability but also the interest of the society and the environment in which it operates. One of the most contemporary definitions is from the world Bank Group, stating “Corporate Social Responsibility” is the commitment of business to contribute to sustainable economic development by working with employees, their families, local community and social at large to improve their lives in such ways that are good for business and for the development. Every business house has an obligation to society, the philosophy is to give back to the society what it has taken from it, in the course of its quest for profit maximization and wealth…show more content…
There are many different areas in which a company may choose to focus its Corporate Social Responsibility like environment, education, health, nutrition and employment etc. India represents a very interesting case for understanding modern business ethics. India has been a land of Buddha, Chanakya, Ramakrishna and many other great souls and spirituals. The ethical environment of business in India is influenced by a variety of aspects of Indian history, norms, ideals and values. We reach to the conclusion that Corporate Social Responsibility and maintenance of high ethical standards is not an option but an obligation for all businesses. We are extremely grateful to the Chief Editor Prof. Thomas G. Fraser for his efforts and sincere dedication in compilation of the significant writings of during International Conference on Business Ethics and Corporate Social Responsibility organized in Cordia Group of Institutes in Nov. 2013. We hope that researchers, academicians, policy makers, professionals and society will be benefitted with the findings in this

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