Question

What is your definition of business ethics? No quotes, no sources, all in your own words. How did you develop your idea of ethics? Who influenced your ideas of right or wrong, ethical or unethical? Do you have an internal "feeling" about problems and their solutions? Where does that feeling come from?

Answer 1

According to me, business ethics are the guiding principle that drives business to take fair decisions and to take care of the interests of the other market participants like consumers, investors, creditors, etc. It ensures that a basic level of trust remains in the business environment.

I developed my idea of ethics by observing the market, by reading about the business practices in the media, by developing a sense of morality, etc. Having grown up in a consumer-led market, we get to see how the decisions of business firms are perceived by the consumers and how consumers can play a very important role in ensuring that correct business practices are prevalent.

My parents would be the first ones who influenced my ideas of what's right or wrong, ethical or unethical. Then, my education, it developed the basic sense of morality and ethics.

Yes, I do have a feeling about problems and their soulutions. It comes from my understanding of the market forces and human behavior.

*These are my views, the answer to this question is upto your judgement and can thus differ from mine.