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									Ethics

What is Ethics?
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Ethics is Two Things First, ethics refers to well-based standards of right and wrong that prescribe what humans must do, usually in terms of rights, obligations, benefits to society, fairness, or specific virtues. Secondly, ethics refers to the study and development of one’s ethical standards. Ethical standards include honesty, compassion, loyalty, standards relating to rights, such as the right to life, the right to freedom from injury, and the right to privacy.

Definitions of Ethics
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Ethics is a set of moral principles or values which is concerned with the rightness or wrongness of human behavior and which guides your conduct in relation to others (for individuals and organizations). Ethics is the activity of examining the moral standards of a society, and asking how these standards apply to our lives and whether these standards are reasonable or unreasonable, that is, whether they are supported by good reasons or poor ones

Business Ethics
Business Ethics is a specialized study of moral right and wrong and It concentrates on moral standards as they apply particularly to business policies, institutions, and behavior. In the field of Business ethics, there is variety of theories, approaches and philosophies, each professing to offer fundamental insights into what constitutes business ethics. Ethical Issues Relate to all Functional Areas  Finance  Management  Marketing  Sales  Production

Approaches to Business Ethics
There are three approaches to studying business ethics Descriptive (describing practices, moral codes and beliefs) Prescriptive (an attempt to formulate and defend basic moral norms) and Conceptual study of ethics (analyzing central ethical terms such as right, good ,justice, an attempt to distinguish what is moral and what is immoral).

Descriptive ethics
Descriptive ethics can broadly be thought of as the study of morality and moral issues from a scientific point of view. It can be thought of as the branch of ethics that attempts to develop conceptual models and test those models empirically in order to enhance our understanding of ethical or moral behavior, moral decision making, and more broadly moral phenomena. One approach to descriptive ethics is just that, to describe various aspects of business ethics. This might include surveys of ethical attitudes among employees and managers, e.g. whether individuals feel pressure to compromise moral principles to achieve organizational goals. One might describe the kinds of principles that individuals use in making decisions.

Prescriptive Ethics
Prescriptive Ethics adopts a particular position with regard to moral choices and provides a theoretical justification for this choice. It attempt to choose from among various ethical approaches in deciding practical matters. It requires an investigation into the criteria used when deciding whether behavior is moral or not, as well as the inspection of the implementation of these criteria in different contexts.

Difference between Prescriptive and Descriptive approaches
Descriptive morals would describe how morale are ACTUALLY applied and used in real life. Prescriptive morals would describe what the morale code states and how morals SHOULD be applied and used. Descriptive talks about the way that things are, and prescriptive talks about the way that things should be

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