Philosophy Applied Ethics Questions
The role of ethics in business and corporate decision-making is to provide a framework for determining what is morally right and wrong in the context of business practices. Ethics guide decision-making by considering the impact of actions on various stakeholders, such as employees, customers, shareholders, and the wider society. Ethical considerations help businesses to prioritize values such as honesty, fairness, transparency, and responsibility, ensuring that decisions align with ethical principles. By incorporating ethics into decision-making processes, businesses can foster trust, maintain a positive reputation, and contribute to the overall well-being of society.