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Sources of Business Ethics

(i)    Religion.

One of the oldest sources of ethical inspiration is religion. More than 100,000 different religions exist across the globe. But despite doctrinal differences, the major religions converge on the belief that ethics is an expression of divine will that revels the nature of right and wrong in business and other areas of life. The world’s great religions are also in agreement on fundamental principles which re similar to the building blocks of secular ethical doctrine. The principle of reciprocity towards one’s fellow human beings is found in all major religions such as Hinduism, Buddhism, Christianity, Islam, Judaism and Confucianism. The great religions preach the necessity for an orderly social system and emphasize social responsibility in such a way so as to contribute to the general welfare. built upon such verities are many other rules of conduct.

(ii)    Cultural Experience.

Culture refers to a set of values, rules and standards transmitted among generations and acted upon to produce behaviors that fall witching acceptable limits. These rules and standards always play an important part in determining values, because individuals anchor their conduced in the culture of the group.

(iii)    The Legal System.

Laws are rules of conduct, approved by legislatures that guide human behavior in any society. They codify ethical expectations and keep changing as new evils emerge. But laws cannot cover all ethical expectations of society. Law is reactive, new statutes and enforcement always lag behind the opportunity for corporal expediency.

Whatever ethics that law codifies, it is binding on business. Society expects business to abide by law and obeying law is presumed to be ethical behavior.

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