| Summary/Abstract |
The term 'ethics' is derived from the ancient Greek word 'ethikos', which is derived from 'ethos' meaning custom or habit. As such ethics has two meanings. First, it refers to as set of moral principles which guide the human conduct and behaviour in different situations. These principles determine the right and wrong of human conduct. Second, ethics is a branch of philosophy, which is concerned with the systematic study of moral principles. The ethics as a code of conduct for various human activities and vocations, change, evolve and adjust with changing conditions. The Greek thinkers had sanctioned slavery, which continued for many centuries, however, it is unthinkable in the contemporary world. As new fields of human activities emerge, which require distinctive management and regulations, the new codes of ethics also evolved. Thus, now we have medical ethics, environmental ethics or business ethics and so on.
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