Ethical And Moral Issues In Business Essay

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Ethical and Moral Issues in Business One of the many misunderstood aspects in society is the relation, differences and similarities of morals and ethics. Most people when asked in regards to the two would consider then synonyms. In many ways this is actually true, but there are subtle differences. It is these differences that can change the meaning and the implications of a company’s or an individual’s actions. Morals as defined by dictionary.com is “founded on the fundamental principles of right conduct rather than on legalities, enactment, or custom: moral obligations.” (Dictionary.com, 2011). In contrast, ethics is defined by dictionary.com as “the rules of conduct recognized in respect to a particular class of human actions or a particular group, culture, etc.: medical ethics; Christian ethics.” However, the same website also defines ethics as “moral principles, as of an individual: His ethics forbade betrayal of a confidence.”(Dictionary.com, 2011). This confirms that while slightly different in some aspects. The use and implications of both of these words can be considered the same or interchangeable. However, what we learn in this fine balancing act is that just because an action or entity may be ethical, that does not inherently make it/them moral. As we look at what separates these terms in different issues, we must realize that morals pertains to what deals more with the feelings or reaction side of a situation whereas ethics will lean the logical or legal validation necessary to earn its claim. This is the reason that when a person or a moral socially conscious and regarded business is discussed, it is their moral nature that is generally referenced. For most businesses, it is how ethics are incorporated in their actions and decisions that define them. A code of ethics is something that both individuals and businesses alike
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