Whats the meaning of Business Ethic

Business is an economic activity between seller and the buyer. It is transaction where the seller offer product or services to buyer and the offer is accepted by buyer.

Ethic also known as moral philosophy, is a branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong conduct. Ethic in philosophy term is a study of human moral behavior and how it should act.

Business Ethics can be defined as many ways. Linda Treviño and Katherine Nelson, authors of “Managing Business Ethics”, define ethical behavior in business as the “behavior that is consistent with the principles, norms, and standards of business practice that have been agreed upon by society”. 

According to investopedia.com, Business ethics are implemented in order to ensure that a certain required level of trust exists between consumers and various forms of market participants with businesses. For example, a portfolio manager must give the same consideration to the portfolios of family members and small individual investors. Such practices ensure that the public is treated fairly.

In my opinion .. business ethics is something that should be followed by all members of the business and make it as a guideline when doing business that does not harm the other party.