In defining ‘ethical business,’ it is useful to consider three terms – morals, values, and ethics. Morals are – standards of behaviour or principles of right and wrong. Values are – principles or standards of behaviour; one’s judgement of what is important in life. Ethics are – moral principles that govern a person’s behaviour or the conducting of an activity. While […]

In defining ‘ethical business,’ it is useful to consider three terms – morals, values, and ethics. Morals are – standards of behaviour or principles of right and wrong. Values are – principles or standards of behaviour; one’s judgement of what is important in life. Ethics are – moral principles that govern a person’s behaviour or the conducting of an activity. While not synonyms, at least in so far as this discussion is concerned, there is enough similarity in these terms’ meanings to consider them such, at least in so far as this discussion is concerned. For this discussion, ‘ethical business’ describes an approach to businesses that reflects the consistent application of principles and standards of behaviour consistent with those of the broader community – and especially the stakeholders of the business. This definition provides for the notion that ethics, morals and values are rarely absolute and can vary radically from community to community and do vary…