Ajal Verma, National Law Institute University, Bhopal
INTRODUCTION
A corporation is a profitable organization—one that creates products and services for sale, typically at a profit. Business is an operation as well. When one individual (e.g., a person or an organization) trades a product or service for valuable consideration, it is considered "doing business" with another. Thus, business ethics can be described as an investigation of profitable entities' ethical aspects and commercial practices. This includes ethical studies of products and services manufacturing, delivery, promotion, selling, and use.
Business ethics issues are critical and applicable to everyone. This is because nearly all of us "do business"—that is, partake in a financial transaction—almost every day. Furthermore, all of us spend a large portion of our lives engaging in, or planning to participate in, constructive action, either on our own or as participants of productive organizations. Company operation influences the world we live in, sometimes for the better, sometimes for the worst.
Business ethics (also known as corporate ethics)1 is a category of applied ethics or professional ethics that investigates ethical concepts and moral or ethical concerns in a business setting. It extends to all facets of corporate behaviour and applies to the actions of entities and whole organizations. Individuals, organizational statements, or the legal code all contribute to the development of these ethics. The ideals that drive a company are these rules, beliefs, ethical and unethical practices.
