Business ethics refer to the moral principles which should govern business activities. They are concerned with determining what is right and what is wrong while doing the business. Business ethics provide a code of conduct for the manages. The purpose of business ethics is to guide the managers and employees in performing their jobs. They lay down the norms of behavior for the business and guide it in undertaking socially responsible activities.

Every business is expected to carry its operations an ethical manner or socially desirable way. A few examples of ethical business practices are:

(i)    To charge fair prices from the customers.
(ii)    To use fair weights for measurement of commodities.
(iii)    To pay taxes to the government honestly.
(iv)    To charge reasonable profits format he customers.
(v)    To ensure genuine (not duplicate) and safe products for the public.
(vi)    To give fair treatment to eh workers.

A business is a part of the society and so it should follow the ethical or moral norms of the society. It should be guided by the principles which are considered right by the society. It is expected for every business firm to integrate ethical values with the business operations.

Another related concept is that of ‘values’ which denote society’ beliefs regarding certain issues. In the light of the social values, we can evaluate policies and practices of a business. For example, an important value of our society is honest dealings. That means the society does not approve of sale of adulterated goods, use of false weights, hoarding of goods or black marketing or goods.

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