1. What is business ethics?
Ethics in business is the accepted principles of right or wrong governing the conduct of businesspeople (highered.mcgraw-hill.com/sites/0072973714/student_view0/glossary.html). It has to do with the rightness and wrongness of business behavior. "Doing the right thing, to the right people, and at the right time" is a slogan often linked to good ethical behavior. Business ethics is the behavior that a business adheres to in its daily dealings with the world. They apply not only to how the business interacts with the world at large (e.g. social responsibility to protect the environment, etc.), but also to their one-on-one dealings with a single customer (e.g, provide safe working environment, etc.).
Business ethics is also a discipline of study. Specifically, "business ethics is a form of the art of applied ethics that examines ethical rules and principles within a commercial context, the various moral or ethical problems that can arise in a business setting, and any special duties or obligations that apply to persons who are engaged in commerce" (http://en.wikipedia.org/wiki/Business_ethics).
Business ethics applies to all businesses. That is why most (if not all) businesses has a value statement and a list of principles that guide business behavior. Most (if not all) businesses have a code of ethics to follow. However, ...