Man is endowed with a faculty of moral conscience that gives him an opportunity to think about the moral content in his thought, speech and action. It makes for him to think about positive and negative injunctions. What does make actions obligatory, desirable and forbidden? Investigating upon this, thinkers have come up with general principles and models of ethic or morality. Inner components of morally are Universality, Objectivity and necessary good. Emphasis on certain aspects makes different ethical view-points and theories. Whatever is acceptable by certain ethical theory, in principle, is ethically or morally desirable. This makes the archaic or absolutistic approach to ethics.
However, in practical life, the socio-political, practical and professional situating makes another set of desirability. Practical desirability sometimes makes a conflict with the ethical desirability. The primacy of ethics, i.e., universal and objective marks of moral principles vi-a-vis and the constraints of the situation makes the conflict between ethical desirability practical desirability, in context of Business Ethics.
The above mentioned ethical problems, in the context of Business may be seen to be connected to evaluate Profit of the Owner vi-a-vis Welfare of Workers, Consumers and environment – natural and socio-political. Ethical dilemma runs like this. If profit making hinders welfare the business becomes unethical, and in log run becomes defunct. On the other hand, if welfare is regarded most, it may curtail the profit. The balance is sought between economic value and ethical value for a good business. Similarly, promoting consumerism, by advertisements, which are often full of vulgarity and all the times pumps on passions, has its diverse impacts on the collective psyche, morality and culture of any society. It leads to degenerate the value system in family and of the humanity at a larger extent. It needs to be addressed dearly and directly. There are moral issues within the business enterprises as well. ‘Customer is always right’ is a proposition which makes a businessman to protect the interest of the consumer and stay long in the business.