The first step toward understanding business ethics is to: a) know your company's ethical policies. b) know your own morals and philosophies. c) know society's ethical policies. d) develop ethical-issue awareness. e) develop a set of decision-making rules.

E) develop a set of decision-making rules.

Explanation:

Although not identical, the concept of business ethics (or management ethics) arises strictly related to the concept of social responsibility of organizations. Ethics can be considered as a set of social values and rules that distinguish what is right from wrong, that is, indicate when a behavior is socially acceptable or not. In other words, an ethical action means no more than respect for the moral principles of society. These moral principles constitute general rules of behavior of great importance to society which can not be established or modified by the decisions of individuals alone or by the powers that be instituted. At the business level, ethics has to do with the set of rules of decision making, that is, the choices made by managers in face of a plurality of options, which will have, as a background, morality.

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