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Questions and Answers
What is business ethics?
Business ethics is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that can arise in a business environment.
What are the two dimensions of business ethics?
Business ethics have two dimensions: normative business ethics and descriptive business ethics.
What is the primary focus of business ethics as a field?
As a corporate practice and a career specialization, the field of business ethics is primarily normative.
What accelerated interest in business ethics during the 1980s and 1990s?
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What are some examples of how major corporations promote their commitment to non-economic values?
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Study Notes
What is Business Ethics?
- Business ethics refers to the study of ethical principles and moral values that guide business behavior and decision-making.
Dimensions of Business Ethics
- The two dimensions of business ethics are:
- Normative ethics: concerned with what ought to be (ideal behavior)
- Descriptive ethics: concerned with what is (actual behavior)
Primary Focus of Business Ethics
- The primary focus of business ethics as a field is to understand and address the ethical implications of business decisions and actions on stakeholders, including employees, customers, suppliers, and the environment.
Accelerated Interest in Business Ethics
- Interest in business ethics accelerated during the 1980s and 1990s due to high-profile corporate scandals, globalizations, and increasing concern for environmental and social responsibilities.
Corporate Commitment to Non-Economic Values
- Examples of how major corporations promote their commitment to non-economic values include:
- Publishing sustainability reports and social responsibility statements
- Establishing codes of conduct and ethics training programs
- Supporting charitable causes and community development initiatives
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Description
Test your knowledge of business ethics with this quiz! Explore ethical principles, moral dilemmas, and the application of ethics in the business environment. Challenge your understanding of individual and organizational conduct in the context of corporate ethics.
