B. The Impact of Societal Norms

All businesses function within and serves a society during any given time in history. Since as early as Aristotle, and even earlier, ethical codes and standards have dictated not only business, but also society as a whole. Aristotle's concept of "the good life" provided a starting point for ethical codes during Ancient Greek times and afterwards. The first articulated codes of ethics were then created to apply to society as whole rather than just to business. With the development of business practices, such codes of ethics also became necessary in this sector, and were intertwined with the ethics of conduct for society.

A business that serves society must have standards of conduct that relate to that society and are acceptable within the social context. This is even so if the business does not particularly focus on social or humanitarian services. Two common ethical standards for businesses for example is providing customers with value for money and to create pleasant circumstances within which their employees can...

If it becomes clear that a business is not following such basic standards, it is soon condemned by the society it serves.
In conclusion, social norms and standards must relate to standards of conduct that are created for businesses. If there is any point of conflict between the two, it is likely that the business will not be able to thrive within the social setting within which it functions. It then follows that norms and ethics in society and those in business evolve and develop concomitantly: society has certain ethical expectations of business, and this must be incorporated in ethical codes.

Sources

American Sociological Association (2005, Oct 28). Ethics. http://www.asanet.org/cs/root/leftnav/ethics/ethics

Freeman, Stephen J., Engels, Dennis W. And Altekruse, Michael K. (2004, 1 April). Foundations for ethical standards and codes: the role of moral philosophy and theory in ethics.(Research and Theory). Counseling and Values. http://goliath.ecnext.com/coms2/gi_0199-4721448/Foundations-for-ethical-standards-and.html