Ethical standards in business

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When it comes to business ethics, the scenario gets really amorphous and vague. A few years ago, the sociologist Raymond Baumhart conducted a survey in which he asked business people hailing from a number of reputed organizations and corporations about what ethics meant to them.


1987). Thus any virtuous manager aught to be particularly conscious about the validity and credibility of one's ethical affiliations and must ensure that the organization being managed and run by him/her abides by the time tested and authentic standards of integrity and propriety.
It often gets difficult for the managers operating in the contemporary organizations to accurately identify the ethical standards, considering the deluge of ethical philosophies circulating in the academic and intellectual spheres. In the given context, it will be highly relevant to consider the opinions pertaining to ethics furnished by various schools of philosophy, which will go a long way in understanding the dilemma faced by the conscientious managers pertaining to the identification of appropriate ethical standards in a given situation.
As per the theory of ethical relativism, there exist no universal norms pertaining to what is right or wrong (Ethical Relativism 2008). This gives every individual a free hand in deciding what is right or wrong as per one's discretion and understanding. ...
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