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Importance of Business Ethics

Business ethics is an important field of study specifically because the corporation is an independent rational actor (Fisse & Braithwaite, 1993). As such, the actions of the corporation have been decoupled from the actions of the individuals who act on the corporations behalf, for the most part. The ramifications of this are clear the corporation is a part of this world. Its actions affect the world around us for better and for worse. As the corporation functions within these bounds, it then becomes imperative that the corporation take into consideration the impact of its decisions and actions on the external world. The acceptability standards of these actions are set by the prevailing ethical norms

The corporation as a legal and rational entity, of course, does not act in and of itself. The corporation the sum total of the actions undertake on its behalf by agents. Thus, there is no rational action save for that conducted on behalf of the corporation by agents (Ibid). These agents are the staff of the organization. The agency element adds a unique layer of complexity to business ethics. As agents, the role of managers within the organization is to

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