Business Ethics

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Definition of Ethics: -
* Ethics is a branch of Philosophy Concerned with the Study of what is Good and Bad. * We can also define Ethics as “Ethics are Set of Principles or Rules of Conduct used to help to distinguish between Right and Wrong.” Nature and Scope of Ethics: -

* Normative Science deals with Judgments of Value and Positive Science deals with Judgments of Facts. * Ethics is a Normative Science. Its Principal Concern is with Human Conduct in respect of its Relation to the Conception of what is good and what is right. Facts and Value Distinction: -

* The Term "Fact" refers to a Truth about the World.
A Fact does not depend on Who Believes it or Who Presents it. For Example, Water Molecules are made of Two Hydrogen Atoms and One Oxygen Atom. * On the Other Side, Values are Vary from Person to Person and from Situation to Situation. For Example, Is it appropriate to work on Sundays?

Ethical Subjectivism and Relativism: -
* Ethical Subjectivist gives all the power of defining some act as Moral or Immoral to the Individual. In Ethical Subjectivism, if any Individual Sincerely believes an act to be Moral, then it is Moral. For Example: - One Individual can feel or believe that Homosexuality is Immoral, and another can feel that Homosexuality is Moral. Here Neither One would be Right or wrong, according to Ethical Subjectivism. * In case of Relativism, the “Good or Bad” is determined by Society. Here, we could decide whether our Actions are Right or wrong just by consulting the Standards of Our Society. Different Societies have Different Moral Codes. Some Societies allowed Child Marriage, Inter- Cast Marriage while Other Societies are not allowed them. Moral Development (Kohlberg’s 6 Stages of Moral Development): - * Moral Development is a Major Topic of Interest in both Psychology and Education. * One of the Best Known Theories of Moral Development was developed by Psychologist Lawrence Kohlberg who Modified and...
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