Imperative of ethical considerations in business: Implications for a healthier and more thriving business atmosphere

Abstract

The fact that man is a social animal bestowed with reason is a factor which actually affects his undertakings, whether in the private or public sphere. His nature actually compels him to weigh the ethical dimensions of his actions or conducts unless he deliberately resolves to pretend. The study is an inquiry into the essence of ethics in the field of business. There is usually argument on whether personal morality is reconcilable with public morality. The authors posit that since man has intellect, it automatically affects his actions whether he is in the private or public domain. Business is part of human undertaking; therefore, it is presupposed that ethics ought to play important role in business transaction. Morality should necessarily be an integral component of business decisions, because business transactions and decisions in the real sense affect human life either directly or indirectly. The study substantiates its argument with some moral principles and theories. It is generally analytical, and ends with a conclusion which synthesizes the major issues raised in the work.