Final answer:
Moral principles that govern a person's behavior or way of conducting business are known as ethics. Ethics is a discipline rooted in moral philosophy,
emphasizing our conduct towards others and the establishment of principles related to right and good behavior.
Step-by-step explanation:
Moral principles that govern a person's behavior or way of conducting business are known as ethics. This is guided by various philosophical underpinnings, such as virtue ethics which is based on the examination of different virtues.
It is essential for a person to be aware of basic principles that oversee moral conduct, as this awareness and adherence categorize them as ethical or unethical. Values are the beliefs and evaluations people hold about morality, politics, aesthetics, and social issues.
The terms moral philosophy and ethics are closely related; while moral philosophy seeks to understand and justify moral principles, ethics is the discipline created to establish the principles of the good and those of right behavior.
The moral principles that govern a person's behavior or way of conducting business are known as ethics. Ethical conduct in business involves making decisions and taking actions that align with principles of fairness, honesty, transparency,
and respect for others. It also includes considering the impact of business practices on different stakeholders, such as employees, customers, suppliers, and the community.