Final answer:
Business ethics involve the application of moral principles in the corporate world, progressing through four levels: pre-conventional, conventional, post-conventional, and professional and corporate responsibility, which are guided by codes of ethics for responsible conduct.
Step-by-step explanation:
The four levels of business ethics refer to a framework for understanding the different stages through which individuals and organizations progress concerning moral reasoning and ethical decision making. This framework can help businesses navigate ethical dilemmas, especially in the context of emerging technology Preconventional At this stage, the focus is on obedience and self-interest. Individuals follow rules to avoid punishment or to receive rewards.Conventional Here, individuals conform to societal expectations, often upholding laws and fulfilling obligations to maintain order and respectability.Post-conventional The focus shifts to abstract principles and values. Individuals recognize universal ethical principles that may transcend the laws of a given society.Professional and Corporate Responsibility At this level, both the individuals within an organization and the business itself are expected to adhere to codes of ethics that have been laid out by their respective professional bodies or by the company's own ethical standards.These levels interact with larger moral theories and political debates, especially when considering emerging technologies and the social responsibilities businesses have. Implementing a strong code of ethics is essential for businesses to maintain trust and ensure responsible conduct.In conclusion, the four levels of business ethics provide a structure for how businesses and their employees can understand and apply ethical decisions and actions within their professional sphere. Companies often establish codes of ethics to guide their practices and decisions, ensuring that they not only remain within the law but also act in accordance with broader societal values and moral principles.