India, Aug. 11 -- Defining ethics has never been easy. Understanding it has been even more difficult. And practicing it is a job few will be able to carry out. Yet, it is a subject on which society always debates.

The term, which originated from philosophy, has today become a part of several disciplines and is an important area of study in management theory and practice. This is the reason why the word ethics has acquired several connotations. When it comes to the essence, ethics still remains the science of right and wrong. But essentially it is a practice.

Right and wrong often do not have a clear-cut boundary. It depends on the actor or the observer. How the act or conduct is interpreted. The same act may be interpreted differently b...