Ethics can be defined as “moral of conduct”; it provides the ground rules to lead life and differentiates between right and wrong. Business ethics is the moral values like respect, honesty, responsibility, impartiality, simply our behavior at our workplace. Business ethics can also be described as the actions of individuals within organization, to understand right and wrong behavior and then choosing the appropriate direction.

Top management plays an important role in this regard, they are the one who initiate and direct moral code of conducts to its employees. If they fail to pursue moral practices, they must not expect staff to behave ethically. Ethics and morality in business practices is being judged when leaders and managers face challenges, crises and bewildering situations, whether they hold strong moral values or deviate from moral principles.

To manage ethics and morality in business practices is not difficult today; it can be done by the use of code of ethics, code of conduct, ethics committees, written policies and procedures, documented procedure to resolve ethical dilemmas, ethical trainings and workshops. In order to support firm’s ethical conducts, everything must be clearly, precisely and professionally documented, must make sure that business documents including brochures’, small business advertisings, journals do not mislead the public.

Ethics and Morality in Business practices, now a days is as important as business management disciplines. Today, in order to succeed, it is imperative to win the customer’s respect and confidence which can only be done by adherence to business ethics. Firms must recognize that customers are always attracted to the company which acts ethically and legally. Additionally, equality is an important ethical principle; firms must treat its employees and customers with respect regardless of differences in cast, color, creed, positions and titles.

In this competitive environment, where numerous companies are coming with their improved products and services, it has become difficult to compete. To cope up with competition, it has become essential to gain peoples’ trust, which can only be done by being socially responsible. Social responsibility must be one of the elements of firm’s mission statement.

Companies are constantly being asked, encouraged and advised to boost their business practices by applying legal and ethical behavior. It will eventually results in firm’s goodwill, employees retention, customers and communities satisfaction. So firms must have to keep its mind open for continuous improvement, feedback and suggestions from customers and employees help the company to grow productively