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3.2.1 Why business ethics now?

The activity of making a profit has always stood in alliance with the sense of morality and ethics . We will use the terms 'moral' and 'ethics' interchangeably, although some philosophers make a distinction between them. Until recent times the exploration of ethical approaches to business tended to be left to the individual manager's conscience.

Now the exploration of managerial ethics has begun to take an elevated place in business thinking. The voicing of ethical standards, which formerly could be attributed to a few notable leaders and outstanding organisations, now pervades organisations and is constantly a media topic.

So, what are some of the reasons for this increase in outspokenness? You can probably already think of some. Corporate scandals can bring not only heavy fines, but also, among other things, disruptions to routine, low employee morale and a lowering of customer confidence. These can lead to increased staff turnover and difficulties in recruiting. The international environment in which business operates opens up an array of ethical dilemmas.

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