Business Ethics: The Holy Quran Says

It is the study of business policies and practices regarding controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility and fiduciary responsibilities. Business ethics is the attitude and ways in which a business is formed and the way in which a business deal with the world. Business ethics can be described as principle and standard that is guiding behavior of people in the business.

Business ethics according to Islam Islam provides us the open invitation to make our vision clear about business ethics. These teachings are present throughout the Holy Quran and in Sunnah.

The Holy Quran Says: “You are the best nation that has been raised up for mankind; you enjoin right

COMPARE AND CONTRAST ABSOLUTE AND RELATIVE ETHICS. USE AN EXAMPLE OF BUSINESS TO DO THIS TASK.(1.2)

ABSOLUTE ETHICS:

Absolute means unchanging or universal. Absolute law of ethics will never change and they are objective which means it does not include any personal opinions and every men of all ages obeys them and will rationally come up with, for example Kant’s deontological theory.

The general belief is that there is a universal moral standard. Changing situations or changing views make no difference whatsoever to this absolute moral code. Absolute ethics provides with a firm account of right and wrong and in a particular situation we don’t have to waste time in worrying or thinking whether we are doing it right or not because we already know the answer.

RELATIVE ETHICS: Relative or relativistic ethics holds that the moral standard varies with different circumstances. Relative ethics say there is no universal moral standard in the world and no difference between what is right and what is wrong. There are so many cultural and religious differences and in some circumstances, it may be ethically correct to do certain things but in other situations it might be completely

They follow absolute ethics and treat their employees according to that. According to their culture what’s wrong is wrong and they do everything by following government rules and without their own interest. All employees are treated equally not according to their culture but on basis of company’s rule. They keep a check on compliance with code. Compliance with the s, statutory, regulations, ethical integrity and fairness is compulsory and a duty for all employees and divisions. Everyone working under this company without any discrimination or exception respect and obeys principles in their action and behavior while performing their functions for quality of their working performance. Relation among all the workers is based on honesty, equality and trust. They believe that anyone working in favor of company can’t justify itself if it’s against ethics of company’s policies. Anyone caught indulged in any sort of misconduct may attract disciplinary action according to company’s