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Business ethics operates on the premise, for example, that the ethical operation of a private business is possible—those who dispute that premise, such as libertarian socialists (who contend that "business ethics" is an oxymoron) do so by definition outside of the domain of business ethics proper.
Otherwise said, companies must focus on the ethics of employees in order to create an ethical business. Employees must know the difference between what is acceptable and unacceptable in the workplace. These standards are found in the written code of ethics or may be referred to as the employee handbook. These standards are a written form of ...
In business ethics, Ethical decision-making is the study of the process of making decisions that engender trust, and thus indicate responsibility, fairness and caring to an individual. To be ethical, one has to demonstrate respect, and responsibility. [ 1 ]
The Business for Peace Foundation encourages the private sector to follow responsible business practices. The Business for Peace Foundation promotes the concept of being "business-worthy", “ethically creating economic value that also creates value for society.” [8] [4] Such an approach seeks to raise business practices from short-term win-lose dynamics to fulfilling longer-term win-win ...
A code of practice is adopted by a profession (or by a governmental or non-governmental organization) to regulate that profession. A code of practice may be styled as a code of professional responsibility, which will discuss difficult issues and difficult decisions that will often need to be made, and then provide a clear account of what behavior is considered "ethical" or "correct" or "right ...
The Institute of Business Ethics was founded by Neville John Cooper (1924–2002), the chairman of the Christian Association of Business Executives (CABE) from 1985 and a member of the governing council of the Confederation of British Industry (CBI) in 1985–1986, who had worked as a telecom executive during the 1970s and had been an activist for Moral Re-Armament before 1964. [5]
A business may approach a professional engineer to certify the safety of a project which is not safe. While one engineer may refuse to certify the project on moral grounds, the business may find a less scrupulous engineer who will be prepared to certify the project for a bribe, thus saving the business the expense of redesigning.
In social exchange theory the effect of ethical leadership on followers is explained by transactional exchanges between the leader and their followers. The leader's fairness and caring for followers activates a reciprocatory process, in which the followers act in the same manner towards the leader.