BUSINESS ETHICS AND CORPORATE SCANDALS
BUSINESS ETHICS: Business ethics (also known as corporate ethics) is a type of applied ethics or professional ethics that looks at ethical principles as well as moral or ethical issues that emerge in the workplace. It applies to both people and huge companies and encompasses all aspects of business activity. Business ethics has both normative and descriptive dimensions. As a business practice and a professional speciality, the field is mostly normative. When trying to understand business behaviour, academics use descriptive methodologies. The breadth and number of business ethical challenges reflect the coupling of profit-maximizing behaviour with non-economic concerns. During the 1980s and 1990s, both within big firms and within academia, there was a surge in interest in business ethics. Most big firms, for example, now emphasize their devotion to non-economic ideals under terms like ethics codes and social responsibility charters. "People of the same trade rarely get together, ...