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Third, a new wing of economic and legislative thinking in all fields of ethics (e.g.
The company should be prepared to pay costs for instituting and maintaining ethical values in the company. (iii) Ethos: Characteristics of a community or of a culture.
Myth No.4: MIS is amoral: Management information systems (MIS) is neither immoral nor moral. There are violations of privacy and questionable use of data or putting the MIS in wrong perspective. Code of values by which a group or a society lives. (iv) Moral: Concerns regarding principles of right and wrong. (v) Morality: It is the standard that an individual or a group that knows that is good, what is right and which is proper.
Business Ethics is the application of ethical principles and methods of analysis to business. It is abstract and does not have universal standards or acceptance due to the fact that ethics depend on morals and morals on value system of people.
Ethics means different meaning to different people.
Myths are popular unexplained beliefs but not truths.
There are 5 myths: Myth No.1: Business and ethics do not go together: Business runs on scientific management principles whereas ethics is religious. 2: Ethics in business is relative: Ethics is in the thinking and eyes of the man who sees business.
generating profits for shareholders and taxes to the government).
This paper will briefly explain the foundations and the growing importance of business ethics in today’s economy.
That is, instead of suggesting “the best one way” of e.g.
corporate governance, the business ethics school will emphasize the moral underpinnings of the matter and will support the decisions and actions only from those perspectives.