Ethics defines the code of conduct guiding a person in handling others and in dealing with other people. Business ethics is the art of applied ethics examining ethical norms, principles, and problems that keep arising in almost any business environment. Business ethics deals with problems regarding the ethical and moral rights, corporate governance, and duties between a firm and its employees, media, customers, shareholders, dealers, suppliers and government. A business that just makes money without concentrating on ethics is a poor business.

Business Ethics and Business Etiquette- Major Difference

Business ethics is a sort of negotiation with business partners; use of ethical ways of competition and ethics record keeping. On the other hand, business etiquette is a set of rules governing the method of communication between companies, appearances of the businessmen, work style and manner and sequence of negotiating. Business etiquettes are not the same for all businessmen but when it comes to business ethics; it is the same for all businessmen coming from different parts of the world. Business etiquettes are formed under the impact of specific traditions along with prevailing historical conditions of a country. This is the reason why it is important for entrepreneurs cooperating with foreign entities to have national business etiquettes that cooperate the parties before getting into joint activities. Both business ethics and business etiquettes have their importance in business. Businessmen should be aware of their importance and work towards implementing them in business. This would not only be beneficial for their business but also for the consumers who do business with them.