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Ethics in Business

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In 200 words:

Define ethics.
Discuss the difference between law and ethics in business. Evaluate organizational influences on ethical ground rules and values.

Define business ethics.
Is it possible that something unethical is not illegal? Give an example of an unethical behavior that does not break the law.
How can a company enforce these ethical guidelines without the legal system to back them up?

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Solution Summary

This solution defines ethics and discusses the difference between law and ethics in business. The solution further evaluates organizational influences on ethical ground rules and values.

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The field of ethics, also called moral philosophy, involves systematizing, defending, and recommending concepts of right and wrong behaviour. Ethics should always be included in the corporate planning process. The corporate scandals in recent years have highlighted the need for development of corporate and legal ...

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