The document describes 10 common myths about business ethics identified by Carter McNamara. The myths are that business ethics is more a matter of religion than management, employees don't need ethics training if they seem ethical, ethics is best led by philosophers not businesses, ethics just says "do good" obviously, ethics is preaching to unethical businesses, ethics is a new policing force, ethics can't be managed, ethics and social responsibility are the same, businesses are ethical if not breaking laws, and managing ethics has little practical relevance.

1. Dr. Manjit Kour

2. Carter McNamara has described following 10 myths
about Business Ethics
Myth1:Business Ethics is more a matter of religion
than management
Myth2: Our employees are ethical so we don’t need
attention to Business Ethics
Myth3: Business Ethics is a discipline best led by
philosphers and academics
Myth4: Business ethics is superfluos-it only asserts the
obvious: “do good”

3. Myth5: Business Ethics is a matter of good guys
preaching to the bad guys
Myth6: Business Ethics in the new policeperson on the
block
Myth7: Ethics can’t be managed
Myth8: Business ethics and social responsibility are
the same thing
Myth9: Our organization is not in trouble with the law,
so we’re ethical
Myth10: Managing ethics in the workplace has little
practical relevance

4.  In Oxford dictionary, value means worth.
 Values provide guidance as we determine the
right versus the wrong, the good versus the
bad. They are our standards.
 Values are the basic beliefs that an individual
thinks to be true. Every individual has a set
of values through which he looks at all things
and also the world.

5. Honesty
Integrity
Promise keeping
Loyalty
Fairness
Caring-concern for others
Respect for others
Abiding by law
Commitment to excellence
Leadership
Reputation and Morale
Accountability

6.  Ethics are the set of rules that govern the
behavior of a person, established by a group
or culture whereas values refer to the beliefs
for which a person has an enduring
preference
 Ethics determine what is right and values
determine what is important
 Ethics is system of moral principles whereas
values are stimuli for thinking