The most important components in a definition of ethics

The most important components in the definition of ethics are principles, rules, standards, judgment, common sense, values, and public interest. I like the simple definition offers by Ferrell, Freadrich and Ferrell (2004) "business ethics comprises principles and standards that guide behavior" (p.6). My own understanding of ethics is a set of conscious or unconscious, cultural and moral values that guide individual based on conformity to the laws, the common sense, the respect of individual, one's personal values, and the social unwritten rules. I am trying to encompass these components because of the role they play in forming our own judgment of a specific reality when it comes to make a decision.

Our judgment and decisions are the product of leaned codes of conducts and our own cognitive evaluation of each situation. The cognitive process of reasoning on each situation beside the laws and the rules in a specific field are imprinted of our cultural and moral values. This process contains both conscious and unconscious materials compiled from our learning and values. "The term ethics refers to judgments about whether human behavior is right or wrong. We may be repulsed by the idea that a male lion will kill the offspring of the previous dominant male when he takes control of the pride" (Johnson, 2012). Generally speaking, we decide of what is right or wrong based on the aforementioned components. Any decision that might hurt other in order to settle ourselves or to make profit is typically wrong. The Christian approach of the subject seems to be simple, but very practical "do to others whatever you would like them to do to you. This is the essence of all that is taught in the law and the prophets (Matthew 7:12). Unfortunately, many business leaders are inspired by exaggerated gain and are making unethical decisions that had bad consequences over the organization, individuals, and the community as a whole.

In the 1930's with the New Deal, businesses were blamed for the country's troubles. Recently, the house market crashed because of provided loans that did not meet the requirements. Loans were conceded to people that were not qualified. Two different centuries, two different eras had witnessed the same big mistakes. But the basic unethical decisions of business leaders resulted in economical crisis on a national level. No need to mention specific cases such as Bernie Madoff and the stock market scam, the BP oil spill and the big environmental disaster. It takes business social responsibility to lessen the negative effects of business over individual and the community. Respect of laws, respect of individual, a well design code of ethics, social engagement, moral values, integrity and high standard need to guide the leader in his/her decisions.

References:
Ferrell, Fraedrich & Ferrell (2004). Business Ethics. Houghton Mifflin; Boston, MA.
Johnson, C. (2012) Meeting the ethical challenge of leadership. Sage; Los Angeles, CA

New Lining Translation. (2007). Bible. Retrieved on October 11, 2012 from https://bible.cc/matthew/7-12.htm

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