Potter Stewart has wisely said, “Ethics is knowing the difference between what you have the right to do and what is right to do.” This ideology applies in the world of business as well. The concept of ethics is highly vague and difficult to explain to an extent. One person’s good might be other’s evil. You cannot be ethical to all the stakeholders at all times. For instance, if you increase the price of a product, you will help maximise profits for the employer which shows your ethics towards your boss, but at the same time an unethical attitude towards the customers. On the other hand, if you incur costs for the society, for instance by being more environmental-friendly, you show ethics towards your customers, but not towards your fellow employees or employers, who would have to bear a cost for the decision. However, choosing the right thing to do at the right moment is what business is all about. The concept of ethics might seem a bit dicey, but it is the ability of making the smart choices and understanding the good for the majority which holds utmost importance, and ethical in a manner as well!

References: http://site.ebrary.com/lib/ubc/docDetail.action?docID=10187339&page=171