Ethics refers to principles of conduct that guide behavior and decision-making. The document discusses different views on what ethics means, noting it is difficult to define. Ethics is not just about following feelings, religion, or laws. True ethics involves discerning what is right based on consistent reasoning. In business, ethics refers to principles that guide decisions and behavior regarding responsibilities to shareholders, employees, customers, communities and the environment. Upholding strong ethics is important for business success and promotes values like trust, professionalism and productivity.