Business ethics

Welcome to this lecture on Business Ethics. As society grows more interconnected and business activity becomes more complex, ethical behaviour in business is increasingly essential. Business ethics isn’t just academic; it’s a daily reality. Ethics refers to the values and principles guiding our actions, especially when rules are unclear. Business leaders make decisions affecting stakeholders— employees, customers, suppliers, communities, and the environment. Trust, fairness, and integrity build stronger organisations and sustain reputations. In both the United Kingdom and United States, ethical excellence goes beyond compliance— it’s about doing the right thing. At the heart of business ethics are core values like trustworthiness, respect, fairness, responsibility, caring, and citizenship. These values bridge differences in culture and geography and are widely recognized as essential for cooperative, sustainable economic relationships. Businesses do not operate in a vacuum; every decision can impact various stakeholders. Ethical business considers not just shareholders but also employees, customers, suppliers, communities, and the environment. Good business creates value for all stakeholders and builds trust through principled conduct. Understanding the difference between acting legally and acting ethically is vital. Law sets a baseline for behavior, but it's not enough. History shows that some practices, once legal—