Business Ethics – Lesson 1 – Assignment 2. Identify one myth you had/have believed about business ethics. Where did it originate? Why is it a 'myth'? What led you to abandon this myth, or do you still believe in it? Explain. Business Ethics is not definable accurately, which is the main reason for the origination of many myths about ethics in business. Myth I believed about Business Ethics: believe Previously, I believed inthe myth which argues “Business and ethics don’t mix”. Abandon element The origination of my myth: The origination of my belief in this myth could be traced out from my early occupation in a financial institution. In that company the accounting employees were advised to produce false accounts to the tax department to avoid paying taxes. The company believed that paying proper taxes will decrease the growth of profit and also argued that the main purpose of any business is to make profit by providing quality product and service to the customers, who are the primary stakeholders. Also the company made more profit by adopting some unethical practice towards the government bodies, which made me to think that the business operate in a free market and applying ethics in all aspects may reduce the profit and growth of the business. My belief about Business Ethics is not truth, but a myth: Even though I believed that maintaining excellent customer service, good employer-employee relationship and healthy work environment are the key requirements of good business, when the tax department imposed a huge amount as penalty against our company for tax evasion, I realized that the myth “Business and ethics don’t mix” is not truth, but only a myth. What made me to abandon this myth? : Compromising ethical values for making profit in business will result in the loss of money, reputation and goodwill of the company. Thus, the loss suffered by my employer due to their unethical approach made me to abandon this myth. My current belief about Business...