This document discusses business ethics and provides an overview of its importance and development over time. It covers several key points:
1) Business ethics is crucial for decision making at all levels of an organization and deals with determining what practices are acceptable. However, there is no single approach for resolving ethical issues.
2) Studying business ethics is important because scrutiny of business decisions has increased, trust in businesses has diminished after financial crises, and stakeholders influence what is considered ethical.
3) The study and practice of business ethics has evolved over the decades as issues like the environment, consumer protection, and financial misconduct have risen up. Regulations have also increased to codify ethical standards and compliance.