Business Ethics in the history of US

Business ethics denote the "moral principles that guide the way a business behaves. The same principles that determine an individual's actions also apply to business" ("What are business ethics?", n.d., p.2). In a broader sense it can be considered as a set of moral responsibilities that businesses must carry along while interacting with stakeholders and while satisfying the objective of profit-maximization. And the importance of adhering to this concept lies in the fact that the concept itself has some biblical links.

The concept of business ethics denoting the above mentioned meanings came into being in the realm of U.S. businesses in the early 1970s and since its incoming, the concept has shaped the ways in which businesses are being conducted in...