The Nature of Ethics in Business

Central to the belief that companies should be operated in a socially responsive way for the benefit of all stakeholders is the belief that managers will behave in an ethical manner. The term ethics refers to the moral principles that reflect society’s beliefs about the actions of an individual or a group that are right and wrong.  Of course , the values of an-other individual,   group ,or society. Ethical standards, therefore, reflect not a universally accepted code, but rather the end product of a process of defining and clarifying the nature and content of human interaction.

"Ethics:The moral principles that reflect society's beliefs about the actions of an individual or group that are right and wrong."