Question

Ethics encompasses right conduct and good living. It is significantly broader than the common conception of analyzing right and wrong and begins when we take the moral rules that we absorbed through society and assesses these moral rules through ethical standards and analysis.

The odd thing about ethics is that what you may think as wrong, another individual may think as right. This is especially true when we consider global boundaries and cultural differences that affect most organizations today. So as a decision maker you need to consider the ethical implications of your decision in other markets.

Thoughts?

Answer 1

I completely agree with the above statement. Ethics is broadly defined as doing what is right. However, an individual's perception of right and wrong is influenced by many things such as upbringing and culture. Thus, one man's right could be another man's wrong.

As a decision maker considering what is ehically right while approaching other markets is important. For example, if a businessman is entering India, they cannot serve beef as many Indians consider it ethically wrong to eat beef.