Business Resources

To put it simply, what is meant by business ethics are the ways to conduct business activities, which covers all aspects relating to individuals, companies, industries and the public. All of this includes how we conduct business fairly, in accordance with applicable law, and does not depend on the position of individuals or companies in the community.

Business ethics is more extensive than the provisions stipulated by law, even a higher standard than the minimum standards of legal provisions, as in business activity often we find the gray areas that do not governed by the provisions of the law.

Von der Embse and R.A. Wagley in an article in Advance Management Journal (1988), provides three basic approaches in the formulation of ethical business behavior, namely:

• Utilitarian Approach: every action must be based on consequences. Therefore, in acting, one should follow in ways that can provide maximum benefit to the community, in a way that is not harmful, and with costs as low. Read entire article.