Moral and Ethical Issues in Business

562 Words3 Pages
Ethical and Moral Issues in Business There is much debate about the difference between ethical and moral issues. What is clear is that the two go hand-in-hand concerning business. The bottom line is that ethics represent knowing the difference between right and wrong and these differences will vary from person to person and from business to business. Just as individuals will define their ethical limits businesses must do the same. The definition of morals is the standards of behavior or belief concerning what is acceptable and what is not acceptable. Ethics in business is defined as the way business owners apply those beliefs in making business decisions affecting both short and long-term. Comingling of these concepts is inevitable and must be managed carefully so that the business maintains professionalism and accountability. Smart businesses will promote themselves to the public as an “equal opportunity employer” in their job postings. This indicates strong moral standards with regard to hiring practices to potential applicants. A business that does this is telling the public that they will consider only qualifications of an applicant against other potential hires, rather than engaging in nepotism or discrimination. Ethics come into play with regard to the business’ hiring practices. A business will promote ethical hiring through the processes and guidelines they adhere to when they hire in new employees. Frenz (2013) promotes that personal ethics evolve from each individual’s experiences and personal sources. Business ethics are developed from laws, industry standards, and
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