Define ethics and discuss some conflicts
over the ethical nature of decisions.
In a broad sense, ethics are the rules or
parameters for conduct in any activity as long as it is done in an “acceptable”
manner. Ethics can also be described as
a set of principles prescribing a behavioral code that explains what is good
and right or bad and wrong. Even though
society is in an ever-changing state, this definition implies that universal
principles remain intact. An
entrepreneur faces many conflicts for many reasons. One conflict arises as a business is faced
with outside as well as inside interests.
Some examples are stockholders, the community, the government,
employees, and unions. Also, as society
changes, the values and mores of society must change.