People often throw around the terms ethics and values like they mean the same thing. But here’s the truth—they’re not. While both shape human behavior, they operate on completely different levels. Ethics and Values together lay the foundation for sustainability . While they are sometimes used synonymously, they are different, wherein ethics are the set of rules that govern the behavior of a person , established by a group or culture. Values refer to the beliefs for which a person has an enduring preference. In the world of intense competition, every business entity work on certain principles and beliefs which are nothing but the values. Likewise, ethics is implemented in the organization to ensure the protection of the interest of stakeholders like customers, suppliers, employees, society and government. Definition of Ethics: Society’s Rulebook Ethics are the standards set by society —a universal code of conduct that defines what is right ...
A Compendium of Concepts