Business ethics can be defined as written and unwritten codes of principles

Characteristics of business ethics

Moral reasoning is the consideration of the factors relevant to making these types of assessments. The phrases business ethics and corporate ethics are often used to describe the application of ethical values to business activities. These features define who we are and what we believe in. Where ethics are concerned, that responsibility lies with each individual. According to the theory of cultural relativism, there is no singular truth on which to base ethical or moral behavior, as our interpretations of truths are influenced by our own culture. It applies to all aspects of business conduct on behalf of both individuals and the entire company. Such judgements are made by considering the objective and the likely consequences of an action. Personal values provide an internal reference for what is good, beneficial, important, useful, beautiful, desirable, and constructive.

According to cultural relativists this means that there is no singular truth on which to base ethical or moral behavior for all time and geographic space, as our interpretations of truths are influenced by our own culture.

Example Corporate social responsibility CSR is a form of ethical behavior that requires that organizations understand, identify, and eliminate unethical economic, environmental, and social behaviors.

concept of business ethics ppt

It is supremely intellectual and, as a branch of philosophy, rational in nature. Example American companies are often criticized for the treatment of workers who produce their products in China. Because of their authority structures, social norms, and cultures, organizations can have a powerful influence on their employees.

principles of business ethics

There is a saying that a good person is one who does good deeds when no one is looking. The study of principles relating to right and wrong conduct. Learning Objectives Explain the role of culture in shaping moral and ethical behavior Key Takeaways Key Points Culture refers to the outlook, attitudes, values, goals, and practices shared by a group, organization, or society.

Business ethics meaning and importance

In the most basic terms, a definition for business ethics boils down to knowing the difference between right and wrong and choosing to do what is right. However, rules concerning the rights of workers are much more relaxed in China than in the United States. Key Terms goodwill: The ability of an individual or business to exert influence within a community, club, market, or another type of group, without having to resort to the use of an asset such as money or property. Both exist to influence behavior, but complying with the law is mandatory, while adhering to an ethical code is voluntary. In this way they seek to promote their standards of ethical behavior. Studies have uncovered four skill sets that play a decisive role in the exercise of moral expertise. Since moral judgments are based on the analysis of the consequences of behavior, they involve interpretations and assessments. Because of their authority structures, social norms, and cultures, organizations can have a powerful influence on their employees. Teachers and classmates help shape the values of children during the school years.

According to consultant Lynn W.

Rated 8/10 based on 64 review
Download
Ethics, an Overview