Crane et al.
© Crane et al., 2019. All rights reserved.
Crane et al.
Business Ethics (5th Edition)
Chapter 1
Crane et al.
© Crane et al., 2019. All rights reserved.
Introducing
Business Ethics
Lecture 1
Crane et al.: Business Ethics, 5th edition
Overview
•What is business ethics?
•Why is business ethics important?
•Globalization: a key context for business
ethics?
•Sustainability: a key goal for business ethics?
Crane et al.: Business Ethics, 5th edition
What is business ethics?
Business ethics is the study of business
situations, activities, and decisions
where issues of right and wrong are
addressed.
Crane et al.: Business Ethics, 5th edition
Ethics and the law
Ethics
Law
grey
area
Crane et al.: Business Ethics, 5th edition
Defining morality, ethics and ethical theory
•Morality is concerned with the norms, values
and beliefs embedded in social processes
which define right and wrong for an individual
or a community.
•Ethics is concerned with the study of morality
and the application of reason to elucidate
specific rules and principles that determine
right and wrong for any given situation.
•These rules and principles are called ethical
theories.
The relationship between morality, ethics
and ethical theory
…that can
be applied
… to
produce
ethical
Ethics
rationalizes
morality …
