Morality deals with individual character and the moral rules that are meant to govern and limit our conduct. It investigates questions of right and wrong, duty and obligation, and moral responsibility. 'Ethics' can be used as a synonym for 'morality' but it can also refer to 'moral philosophy.' Philosophy is a quest for knowledge through reason. Moral philosophy can help us attain improved moral opinions by learning how to apply logic and good reasoning to morality. We can do this (in part) by considering multiple perspectives, arguing, and theorizing.
Business ethics is a form of moral philosophy that helps us determine what's morally right or wrong in a business (or organizational) context.
Moral standards concern behavior that has serious consequences for human well-being, and they take priority over other standards, including self-interest. Their soundness depends on the adequacy of the reasons that support or justify them.
Morality must be distinguished from etiquette (rules for well-mannered behavior), from law (statutes, regulations, common law, and constitutional law), and from professional codes of ethics (the special rules governing the members of a profession).
Morality is not necessarily based on religion. Although we draw our moral beliefs from many sources, for philosophers the issue is whether those beliefs can be justified.
Ethical relativism is the theory that right and wrong are determined by what one’s society says is right and wrong. There are many problems with this theory. Also dubious is the theory that business has its own morality, divorced from ordinary ideas of right and wrong.
Ethical relativism is the theory that right and wrong are determined by what one’s society says is right and wrong. There are many problems with this theory. Also dubious is the theory that business has its own morality, divorced from ordinary ideas of right and wrong.
Part of the point of morality is to make social existence possible by restraining self-interested behavior. Sometimes doing what is morally right can conflict with one’s personal interests. In general, though, following your moral principles will enable you to live a more satisfying life.
Morality as a code of conduct can be distinguished from morality in the broader sense of the values, ideals, and aspirations that shape a person’s life.
Several aspects of corporate structure and function work to undermine individual moral responsibility. Organizational norms, group commitment, and pressure to conform (sometimes leading to bystander apathy or groupthink) can all make the exercise of individual integrity difficult. .
Moral reasoning consists of forming moral judgments, assessments of the moral worth of persons, actions, activities, policies, or organizations. Moral reasoning and argument typically appeal both to moral standards and to relevant facts. Moral judgments should be entailed by the relevant moral standards and the facts, and they should not contradict our other beliefs. Both standards and facts must be assessed when moral arguments are being evaluated.
Philosophical discussion generally involves the revision and modification of arguments; in this way progress is made in the analysis and resolution of moral and other issues.
We must be careful not to consider all our moral beliefs to be true without first examining them closely. Conformity with our considered moral beliefs is an import.