CHAPTER 1: THE IMPORTANCE OF BUSINESS ETHICS
Ethics- Inquiry into the nature and grounds of morality where the term of morality is taken to mean moral judgments, standards and rules of conduct.
The American Heritage Dictionary- Ethics- The study of the general nature of morals and of specific moral choices, moral philosophy, and the rules or standards governing the conducts of the members of a profession.
Applying Ethics to business: 1.To survive, business must earn a profit 2. Business must balance their desires for profits against the needs and desires of society.
Business ethics comprises the principles and standards that guide behavior in the world of business.

CHAPTER 2: STAKEHOLDER RELATIONSHIPS, SOCIAL RESPONDSIBILITY, AND CORPERATE GOVERNANCE.
In a business context, customers, investors and shareholders, employees, suppliers, government agencies, communities, and many others who have a “stake” or claim in some aspect of a company’s products, operations, markets, industry, and outcomes are known as stakeholders. These groups are influenced by business, but they also have the ability to influence businesses; thus, the relationship between companies and their stakeholders is a two-way street.
Stakeholders provide resources that are more or less critical to a firm’s long-term success. These resources may be both tangible and intangible.
Primary stakeholders are those whose continued association is absolutely necessary for a firm’s survival; these include employees, customers, investors, and shareholders, as well as the governments and communities that provide necessary infrastructure.
Secondary stakeholders do not typically engage in transactions with a company and thus are not essential for its survival; these include the media, trade associations, and special-interest groups. Stakeholder groups and issues | Potential indicators of