The Definition Of Ethics And Business Ethics In Business

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According to Holme (2008), ethics is defined as a moral principle or set of moral values held by an individual while business ethics refer to a set of moral principles for arriving at a decision within the values of the organisation. The scholar assists the concept of ethics with morals, values and principles where moral is referred to principles of behaviour in accordance with standards of right and wrong, values is moral principles or accepted standards of a person or a group and principles as a standard or rule of personal conduct respectively. Ethics also being defined as a branch of philosophy that deals with moral behaviour and a systematic inquiry into beliefs that people have and the management people make about what is morally right or wrong and morally good or evil (Abuznaid, 2009). Schemerhorn (2008) defined ethics as the code of moral principles that sets standards of good or bad and right or wrong behaviour where ethical behaviour defined what is accepted as good and right as opposed to bad and wrong in the context of the governing moral code.
Kanungo and Mendonca (1996) point out that ethicality is an essential dimension of leadership where the leaders have ability to influence their followers in terms of power exercised and decisions value (Ciulla, 1998) to achieve and accomplish organisational goals (Yukl, 2010). Business leaders need to focus on wider considerations on ethical dimension of business decision in determining the successful of the business.
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