Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations.
An ethical framework is a set of codes that an individual uses to guide his or her behavior. Ethics are what people use to distinguish right from wrong in the way they interact with the world. Ethical decision-making refers to the process of evaluating and choosing among alternatives in a manner consistent with ethical principles. In making ethical decisions, it is necessary to perceive and eliminate unethical options and select the best ethical alternative. An ethical theory is a theory about what makes an action or set of actions morally right or wrong. In ethical theory we generally look for a key principle(s) of right action, which can then be applied in concrete situations. The Utilitarian Approach assesses an action in terms of its consequences or outcomes; i.e., the net benefits and costs to all stakeholders on an individual level. It strives to achieve the greatest good for the greatest number while creating the least amount of harm or preventing the greatest amount of suffering