Morality (Consumer Ethics)

Morality, with reference to consumer ethics, refers to the codes of conduct that are followed by members of a consumer society to avoid causing harm to other human beings. Moral decisions made by each consumer, either directly or indirectly, are responsible for protecting the well-being of all members of society. In a business transaction, both the buyer and the seller are expected to act according to their own economic interests; however, a mutual trust in the morality and ethical behavior of both parties is essential for establishing a long-term and successful business relationship that is beneficial to both parties of the consumer society.

Corporate scandals involving companies such as Enron, Global Crossing, WorldCom, and many others have caused concern and suspicion among consumers about business ethics ...