An analysis of ethics in the 21st Century - Research Paper Example

Types of ethics will give us information about how ethics are related with various folds of our life. Amongst the type of ethics we will discuss in brief about Business Ethics in our report. This discussion would include details of business ethics as in what business ethics are, how they affect business and limitations of business ethics. After getting information of business ethics we will discuss about ethics in 21st century and finally moving on with the conclusion of report about what we have discussed in the report.

Ethics may be defined as the philosophical study of behavior that is considered as correct amongst a particular profession or group. Ethics are also termed as Moral Philosophy. It is the discipline or study guiding about what is morally correct and what not. Ethics and values are essential for the development of every society, state, region or country. Today the world around us is changing with a fast pace thus creating uncertainty in lives. This may be due to cut throat competition and globalization.

Thus ethics may serve as a guidance laying principles of conduct which is considered as morally correct. The universal values for natural environment, health and safety, human rights, equality of men and women and principles of human conduct all comes under study of Ethics. It is a broad term covering almost all the spheres of life laying principles for fair behavior (Singer 2011). Business Ethics is about responsibly doing the business. It means that the businessmen must keep away from indulging in unfair trade practices like publish misleading advertisements, adulteration, black marketing etc.

The businessmen should supply quality products to their consumers at reasonable prices all the time. There should be no unfair competition and monopolies. Workers exploitation should not be there and they must get proper wages with good working condition. Business Ethics can be divided into two parts