definition of morals and ethics

Question 1

what are morals

Answer 1

the principles of right and wrong behaviour

Question 2

what are the two types of moral principles

Answer 2

• absolute principles are the unchanging and universal morals generally accepted by society
• relative principles are based on opinions and circumstances, and they can change depending on the situation/social culture of the time

Question 3

how do morals affect a businesses behaviour

Answer 3

these principles govern how the business operates in its entirety whether its externally or internally

Question 4

what are ethics

Answer 4

principles that govern a persons behaviour or the conduct of an activity

Question 5

how do business ethics influence how decisions are made

Answer 5

they can cause conflicts or challenges, as the interpretation of what is considered ‘ethical’ may vary from person to person.

sometimes these interpretation can mean decisions need to be made on topics where there is no clear right or wrong answer