Business ethics primarily concerns how businesses conduct themselves and how they make their money. Sometimes businesspeople act badly because they suffer from moral confusion—that is, they are genuinely unsure what moral principles apply to their situation or how to apply them correctly. There are at least five major principles of business ethics which are inherent or built-in to the very idea of doing business. These include that personal responsibility is inalienable, that we must respect the autonomy of others, that coercion, discrimination, and deception are forbidden, and that contracts must be honored. Further, building these ethical principles into each stage of the strategic planning process helps to ensure that businesses act well.
