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Business ethics operates on the premise, for example, that the ethical operation of a private business is possible—those who dispute that premise, such as libertarian socialists (who contend that "business ethics" is an oxymoron) do so by definition outside of the domain of business ethics proper. [citation needed]
They are distinct from moral codes that may apply to the culture, education, and religion of a whole society. It is debated whether the politicians should apply a code of ethics, [4] or whether it is a profession entirely discretionary, just subject to compliance with the law: however, recently codes of practice have been approved in this field ...
A closely related topic is the question of whether corporations themselves, and not just their stakeholders, have moral agency. [156] Business ethics further examines the role of honesty and fairness in business practices as well as the moral implications of bribery, conflict of interest, protection of investors and consumers, worker's rights ...
Elizabeth Anscombe criticised modern ethical theories, including Kantian ethics, for their obsession with law and obligation. [86] As well as arguing that theories which rely on a universal moral law are too rigid, Anscombe suggested that, because a moral law implies a moral lawgiver, they are irrelevant in modern secular society. [87]
In business ethics, Ethical decision-making is the study of the process of making decisions that engender trust, and thus indicate responsibility, fairness and caring to an individual. To be ethical, one has to demonstrate respect, and responsibility. [ 1 ]
Ethics (also known as moral philosophy) is the branch of philosophy which addresses questions of morality. The word "ethics" is "commonly used interchangeably with 'morality' ... and sometimes it is used more narrowly to mean the moral principles of a particular tradition, group, or individual."
Moral injury is a relatively new concept that seems to describe what many feel: a sense that their fundamental understanding of right and wrong has been violated, and the grief, numbness or guilt that often ensues. Here, you will meet combat veterans struggling with the moral and ethical ambiguities of war.
Some ethical considerations which may become apparent in the durability of contracts are cultural relativism and moral relativism. Grace and Cohen (2005, 200) describe cultural relativism as the extent to which different societies and cultures have different values and ethical standards in the fields of business and organisational life.