Business Ethics in India

Ethics means Principles of conduct that guide an individual or group in deciding what is good or bad. The word ethics is derived from the Greek Word “ethos” meaning character. It is the branch of philosophy, which is concerned with human character and conduct. Ethical norms encompass truthfulness, honesty, integrity, respect, fairness, and justice. Webster defines the word ethics as “The discipline dealing with that which is good and bad with moral duty and obligation.” Ethics refers to a system of moral principles, a sense of right and wrong and goodness and badness of actions and their motives and consequences. The term business ethics refers to the system of moral principles and rules of conduct applied to business. Business ethics does not differ from generally accepted norms of good or bad. To be more specific, business ethics is the study of good and evil, right and wrong and just and unjust actions of businessmen. Ethics constitute basic code of civilized behavior. Business ethics that branch of ethics which examines as to what is right or wrong in the context of business. Business Ethics refers to such principles that govern the decisions and actions related to business. Business ethics requires application of ethical principles to issue that arise in a business environment.