Business Law and Ethics, January 2016, Page 5 of 5 Core Standard 13 Students connect the legal rules that apply to real property. The two members of the team study the situation and organize their analysis.

It answers the question on how these standards can be applied in life (Cheney, 2010).

Business professionals have responsibilities to make decisions based upon ethical principles. Business Ethics Wayne Norman “Business ethics” is a concise, but in many ways misleading, label for an interdis-ciplinary field covering a vast range of normative issues in the world of commerce. MORAL STANDARDS On the other hand, ethics is the subject that examines the personal moral standards of the society (Velasquez, 2006). Team members are given a real-world, decision-making case study situation involving competing social values that may reasonably be argued from either side. PRINCIPLES OF BUSINESS ETHICS Ethics form the foundation for international economic activities. Ethical guidelines are essential in making business decisions. The Business Law and Ethics Team Decision Making Event is a case study event in a role-play format. But what are these moral standards? According to Manuel G. Velasquez, moral … Journal of Public Administration, Finance and Law Issue 6/2014 140 2. BUSINESS ETHICS. In the 21 st century, the role of ethics in international business transactions and interactions will receive more attention.