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Showing posts with the label ethics and commerce

The Need for Business Ethics in Commerce

Business ethics is important for maintaining a level of commercial trust between entities. According to a paper from Gabriel Abend (2013) such ethics were first formalized at the University of Yale in 1904 and the University of Chicago. The concerns and needs of ethics in the twentieth century are not all that different than that of the twenty first century. She moves onto discussing the nature and history of ethics.  The need for business ethics is often seen as starting in the 1960’s and the corporate scandals that resulted. However, business ethics started much earlier as the complexities of business raise important concepts of public good. When ethics are not understood or enforced business decisions can have a large impact on the overall functioning of society and the very nature of people’s lives. Her work offers a three-way understanding of ethics: 1.)     The history of ethics and business practices. 2.)     History of ideas about business practices. 3.)