Ethic e-thik n 1: the discipline dealing with what is good and bad and with moral duty and obligation 2: a set of moral principles or values
             What is ethics? Simply put, ethics involves learning what is right or wrong, and then doing the right thing. In our society today, we are faced with ethical decisions every day that require our judgment. There are many concepts in ethics, but the definition is narrowed to two aspects, right and wrong. Philosophers believe our moral values are our values that guide how we ought to behave - this is our ethical guideline. Many ethicists assert that there is always a right thing to do based on moral principle, but, on the other hand, there are others who believe the right thing to do depends on the situation.
             In business, ethics is coming to know what is right and wrong in the workplace and doing what is right. Ethical guidelines are crucial to businesses especially during times of fundamental change. Attention to ethics in the workplace sensitizes leaders and workers to how they should act; it also helps ensure that when leaders are struggling in times of crisis, they retain a strong moral compass.
             There are two broad areas of business ethics: "managerial mischief" and "moral mazes". "Managerial mischief" includes the "illegal, unethical, or questionable practices of individual managers or organizations, as well as the causes of such behaviors and remedies to eradicate them." More often than anything, business ethics is a matter of dealing with dilemmas that have no clear indication of what is right or wrong. "Moral mazes of management" includes the numerous ethical problems that managers must deal with on a daily basis. Such problems are potential conflicts of interest, mismanagement of contracts and agreements, wrongful use of resources, and so on.
             Many businesses have ethics codes to follow if an ethical dilemma occurs. &qu...