Ethical and Moral Issues Ã¯Â¿Â½ PAGE \* MERGEFORMAT Ã¯Â¿Â½1Ã¯Â¿Â½
Running head: ETHICAL AND MORAL ISSUES IN BUSINESS
Ethical and Moral Issues in Business
University of Phoenix
When one thinks of moral issues, he or she is often thinking of right and wrong concepts that are typically related to personal character. A moral issue would include concepts of murder, theft, and concepts such as being a good person. Ethical issues are closely related to moral issues because they represent standards or codes of behavior that a particular group adheres to. For instance, ethical issues typically pertain to a specific group setting such as ethical issues in nursing or banking. This difference in morals and ethics serves to divide ethics into two concepts known as personal and business ethics (Chadwick, 1998).
Personal ethics are the rules to which an individual abides based upon their morality. If a person feels that stealing is morally wrong they have formed a rule that is personal to them whether or not that personal ethic is reflected in law (Chadwick, 1998).
For instance, an individual who believes lying is wrong, might believe that exaggerating the benefit of a particular product to a customer, to achieve a sale, and is also wrong. Although this type of sales is practiced all the time in this instance the individual has placed a personal ethic on the practice.
Business ethics are similar to personal ethics in that they represent what is right and wrong. However, business ethics have a narrower focus. Typically business ethics involve defining rules of conduct that pertain to members of a particular business. For instance, labor industries maintain ethical standards to guide the business process. Using child labor is considered unethical in the United States and European Union. However, corporate ethics can be conflicting from country...