摘要：MEANING OF THE TERM ETHICS: In recent years cases concerning conflicts of interests, business scandals, and stock manipulation by members of corporate boards, kickback payments and securities scam have damaged the reputation of business. Such reports impose questions regarding code of ethics of many managers and of organization, in general. The term ethics refers to a code of conduct that guides an individual while dealing with others. It relates to the social rules and cardinal values that motivate people to be honest in dealing with others. Such ethical rules are determined largely by customs, traditions and prevailing socio-economic environment. Certain ethical values such as honesty and fairness are universal and stable over centuries. Such values are applicable to all aspects of life including business.
