Business Ethic -From the Time of Machiavelli to the 21st century!

Business ethic can be defined as a stream of applied ethics that scrutinizes ethical codes and ethical problems which can or had arisen in a business environment.

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The term 'business ethic' may sound like a 21st century phenomena but it can actually be traced back to the times and works of Machiavelli.

Machiavelli known for his political and military theories was also a historian, playwright and a diplomat. He reflected on codes related to the ethics, morals, the why and how of corruption/hypocrisy and the dilemmas of political life. It can be widely related to the modern century marketplace as both the demand and value of ethical business, process and actions is increasing. Today, even codes and standards are being evaluated to make sure that these business ethics are not only put in application but even improved with time and requirements.

Machiavelli's last part of 'The Prince'(famous book written by him), it is clear takes inspiration from people of his era that were basically entrepreneurs and were not only witnesses but even contributors to the radical thought process. If one carefully goes through his work, one can find codes that are directly or indirectly related to business and ethics. Undoubtedly, they contain many applications for business and its boom. It also clearly stated that once a man is invested with any kind of power, he has more ways to reach out and influence matters for good of himself and society both.  These business ethics and duties are generally debated and exercised under an umbrella term better known as corporate social responsibility (CSR). These business ethics have for long been debated over and over in an attempt to clearly define a boundary between the business ethics and social ethics.

Business ethics in short cover the innumerable ethical problems both theoretical and practical and emphasizes on specific areas of companies with relation to these business codes. Internationally as well these have been grouped together to provide business firms an ethical expansion. To make business firms adhere to such ethical practices <a name=RichViewCheckpoint2></a> 'International business ethics' have emerged as an important field in the 1990's which help in deciphering practical and theoretical issues. <a name=RichViewCheckpoint3></a> Business ethics have been examined from various point of view and have been debated over conflicting interests f the various entities. Philosophers too have been divided on the issue of business ethic. This has given way to a number of theories being developed and curtailed. However Business ethics are easily confused with philosophy of business. Business ethic can also be related to political economy, which is a quantitative and qualitative economic analysis from both political and historical perspectives.

Business ethic in short can be called a code of conduct that has been set for various business firms all throughout the world to make sure that the organizations not only benefit themselves but even take care of the community, its workers and the environment.