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Unit 1: Nature and Concept

Chapter 1: Introduction to Business Ethics

Lesson 1: Meaning and Nature of Business Ethics

Hello dear students ever did something, which was against your values, beliefs & moral principles. The straightaway answer will be no, never. O.K. then answer all these questions in just yes or no:

You did not help a person who met with an accident in front of you and was lying on the road waiting for someone to give him assistance?
Have you ever bribed someone for getting your work done?
Have you ever discriminated someone because of his caste, creed, sex or any other thing?

If the answer of any of the above mentioned question is yes then my friend its time you should revise your definition of values, beliefs and moral principles. I can understand that it is difficult to judge what is right and what is wrong because what is right in one situation can be wrong and improper in another situation.

So for getting a clear picture of what is right and what is wrong. Lets start with the first topic of this subject.
Points to be covered in this lecture:
Meaning of Ethics and business Ethics
Organization and Business Ethics
Arguments for and against business ethics.

INTRODUCTION

There is a big difference between what you have a right to do and what is right to do. - Justice Potter Stewart

Never let your sense of morals get in the way of doing what’s right. - Issac Asimov

Man is a social animal. Though rules of nature control humans as they control other living beings, man himself has derived certain principles to govern his own individual and group behavior. These rules, in the form of behavioral standards may differ across cultures and times, but their basic objectives are always mutual existence and peace within the particular community or the social group. By ensuring security and protection of the group these standards helps in the survival of the particular community or a social group and thus its members. These

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