1. Business Ethics and Social Responsibility What is Business? Business is a complex activity that involves major activities like production, manufacturing, marketing, advertising, selling, and the like. Is business an integral part of society? Yes, business is an activity that is part and parcel of human society, therefore, its activities must be examined from the ethical perspective.

8. Fig. 1 Framework for Moral Reasoning Ethical Issues/ Problems REALITY CHECK Moral Standard Company Policy Ethical Principle Moral Norm Moral Judgment SITUATION ANALYSIS PROBLEM ANALYSIS DECISION ANALYSIS RESOLUTION Examples: Graft Sexual Harassment Theft Bribery Gravity of offense Frequency of offense Harm done Number of people affected Cost Company rules/policies Ethical principles Code of conduct Moral norms Moral or Immoral Legal or Illegal