1. 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.
2. Business ethics is a form of moral philosophy that helps us determine what’s morally right or
wrong in a business (or organizational) context.
3. 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.
4. 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).
5. 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.
6. 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.
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