Myths are popular unexplained beliefs but not truths.
There are 5 myths: Myth No.1: Business and ethics do not go together: Business runs on scientific management principles whereas ethics is religious. 2: Ethics in business is relative: Ethics is in the thinking and eyes of the man who sees business.
However, ethical decision-making is far from being simple, as is involves much greater complexity and debate (Trevino & Brown, 2004) than other ethical fields, even complicated ones such as bioethics.
The main reason for this confusion is not only the themes of business ethics, but the difficulty to recognize the relevance of ethics to the business decision in question.
Myth No.3: Good business makes good ethics: Ethical means may be or may not be always in the interest of business or better profits.
Whatever the profit or business of a company, CEO of the company has to act ethically. Business Ethics is the application of ethical principles and methods of analysis to business. It is abstract and does not have universal standards or acceptance due to the fact that ethics depend on morals and morals on value system of people. Ethics means different meaning to different people.generating profits for shareholders and taxes to the government).This paper will briefly explain the foundations and the growing importance of business ethics in today’s economy.The company should be prepared to pay costs for instituting and maintaining ethical values in the company. (iii) Ethos: Characteristics of a community or of a culture.Myth No.4: MIS is amoral: Management information systems (MIS) is neither immoral nor moral. There are violations of privacy and questionable use of data or putting the MIS in wrong perspective. Code of values by which a group or a society lives. (iv) Moral: Concerns regarding principles of right and wrong. (v) Morality: It is the standard that an individual or a group that knows that is good, what is right and which is proper.Second, a wave of corporate scandals, involving cases of fraud, negligence and immoral marketing methods has increased the attention to companies’ internal affairs, in particular their agents.This was due to the explosions of scandals such as Enron and World Com as well as a growing interest in corporate affairs in Hollywood, leading to blockbusters such as Wall Street, Quiz Show, The Insider and Jerry Maguire.One customer see business ethically excellent other customer see it is poor.The experiences are contradictory and cannot be measured as so many kilos.