Business-ethics meaning

The definition of business ethics is the set of moral rules that govern how businesses operate, how business decisions are made and how people are treated. In business, there are many different people you have to answer to: customers, shareholders and clients. Determining what to do when an ethical dilemma arises among these different interests can be extremely tricky, and as such business ethics are complex and multi-faceted. Some business ethics are imposed by law. For example.

The Securities and Exchange Commission governs the way investment bankers and stock brokers do business.

Court rules dealing with attorney client privilege dictate some ethical decisions for attorneys.

(ethics) The branch of ethics that examines questions of moral right and wrong arising in the context of business practice or theory.
There are also business decisions that do not fall within the guidelines of the law, in which the businessperson must make their own ethical or moral judgments.

An example of business ethics is when moral rules are applied by a corportion to determine how best to treat its employees, shareholders and customers.

An example of business ethics are accounting ethics - especially for accountants of publicly-held corporations - which depend upon complete honesty and transparency. A lack of business ethics allowed the accountants at Arthur Anderson to not behave with honesty, openness and responsible publication when auditing Enron. As a result, shareholders were harmed, the company collapsed, and some Arthur Anderson accountants were held legally liable for their breach of business ethics.

An example business ethics are attorney ethics which call for complete confidentiality. The law recognizes that attorneys have such a high moral obligation to keep their clients secrets confidential, that if an attorney violates this ethical duty, he can lose his license to practice law.

An example of business ethics are medical or medical research ethics which call for protection of their human subjects when it comes to treating patients or conducting experiments on patients. Peer review boards and other such institutions govern experiments designed to be conducted on human subjects to ensure that business ethics are followed and that experimenters make the best moral and ethical decisions.