Chapter 2 Key topics to consider when studying Chapter two of your Textbook. Business Ethics Defined Ethics is the study of right and wrong and of the morality of choices individuals make.
Business ethics is the application of moral standards to business situations.
Ethical Issues Fairness and Honesty in business are important ethical concerns. Business people must obey all laws and regulations as well as refrain from knowingly deceiving, misrepresenting, or intimidating others. Relationships with customers and coworkers often create ethical problems because confidential information is expected to be kept secret and all obligations are expected to be honored. Advertisers must take precautions to guard against deception. The factors that affect the ethicalness of behavior in organizations are individual, social, and opportunity.