Newspaper headlines frequently highlight instances where business professionals, politicians, and others are accused of engaging in unethical behavior. In response, there have been numerous attempts to reduce their occurrence. For example some have argued for universities to include more courses in ethics.
Required
a. Describe what constitutes "ethics" and highlight the challenges of developing a set of rules and guidance to increase ethical behavior in society.
b. Why is ethics important to the conduct of business in a market-based economy?
c. Why do individuals act unethically?
d. What are common rationalizations individuals use to justify their unethical behavior?
e. Discuss whether ethics should be taught, for example, in university courses.