Question: Please, read the following case study & answer the questions after: Until recently, in business practice, there was a belief that companies were operating solely
Please, read the following case study & answer the questions after: "Until recently, in business practice, there was a belief that companies were operating solely for the profit of their owners. Few companies have recognized the need to combine their activities with ethics, and in particular with their obligations toward society or the environment. However, the perception of ethical issues has changed radically in business over the last 20 years. If a company wants to be perceived as a reliable business partner and a respected member of the business sector, it should demonstrate a high level of institutionalization of business ethics principles and practices, and it must practice outstanding ethical behavior. This is exceptionally true in some controversial industries. The purpose of our study is to identify the scale and scope of the use of these principles and practices in two Central European countries, i.e., Poland and Hungary, in three controversial sectors of the economy, i.e., pharmaceutical, tobacco and alcohol. The data were achieved on the basis of data gathered through survey methodology. The target subjects included a group of 48 companies (25 Hungarian and 23 Polish ones). Our survey mainly focused on the degree of institutionalization of business ethics (such as the presence of a code of conduct, an employee appointed to deal with ethical issues, ethical training, and so on), the perceived ethical behavior of the firms, and their relationship with their key stakeholders." Q1: What is ethics? What are some common ethical types? Why do business people need it? Can ethics be taught to people?
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