Final answer:
The moral principles under common law for appropriate behavior in business include prima facie duties such as fidelity and non-maleficence, as well as codes of ethics that businesses adopt to guide their practices.
Step-by-step explanation:
Moral Principles in Business Practices
The moral principles that guide appropriate behavior and actions in business under common law can be understood through various ethical frameworks. One approach is the identification of prima facie duties, as portrayed by philosopher Sir William David Ross, which reflect our main moral commitments. These include duties of fidelity, reparation, gratitude, to promote aggregate good, and non-maleficence. Additionally, moral theories offer a logical framework for determining what is morally right by making sense of our moral life and common experiences. Businesses themselves often establish codes of ethics that outline permissible actions, addressing issues like bribery, discrimination, and environmental goals, while adhering to governmental laws and regulations. Furthermore, the Golden Rule is highlighted as a guiding principle for good citizenship, emphasizing treating others as one would like to be treated.