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Types of Ethics


  1.  Transactional Ethics: Man is a social animal. He has to react with others through different transactions. Business transactions are the interaction between business and their customer. The practice of ethics in all these transactions is called transactional ethics. Eg. We need vegetables & fruits likewise the vendor needs customers like us for survival and we both are dependent on each other. Equality Honesty & Reciprocity is indicated as the domain of transactional ethics.   


  1. Participatory Ethics: Guided by the common good, all the participants follow some ethical practices. Participatory ethics is an integral part of business ethics; these are the actions some of which are guided by common interest and some shared interest by all participants involved in the business.  It is the ethics of civil society. By participating on a regular basis in common projects on behalf of the general welfare, a corporation demonstrates that it can take its corporate citizenship.   


  1.  Recognition Ethics: As human beings, people are endowed with the ability to understand the problems of others. This quality leads to the recognition of individuals, institutions, and societies. Conflicting situations can be solved by the correct recognition of the situation. Eg. The strong is helping the weak, The learned is helping the lesser learned, The experienced is helping the new entrant. 
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