Role of business in developing countries. The study of ethics is not concerned with all judgements, only those which are seen as morally right and wrong or good and bad. Legal Grammatical Aesthetic Moral. When a decision violates moral standards it either raises or involves ethical issues. Identifying situations in which self interest should be sublimated for the greater good Enabling resolution of social conflicts by providing publicly acceptable justifications for actions and policies.
Business ethics is simply a matter of obeying the law.
Two broad approaches have been taken in trying to foster an ethical climate in business. These have centred around strategies to influence the individual and those which are concerned with the organisation as a whole . The development of moral abilities follows steps not unlike the stages of growth in physical development. Another mitigating factor could be the degree to which an individual had active involvement in an unethical act as could the seriousness of the act itself. The terms corporate or corporate social responsibility have derived from a perception that responsibility for a corporate act is often distributed among a number of cooperating participants.