Basic Categories of Business Ethics - 661 Words

Its simplest definition is the moral features of commercial activity, (Marcoux). However, business ethics is a remarkably complex area that impacts every aspect of commercial enterprise. Every business has some kind of ethical code, which outlines the fundamental moral values of the company. From that code of ethics comes a list of dos and donts that the company might choose to follow. The companys behavior, and that of its employees, should ideally reflect its ethical code. Business ethics usually addresses issues such as social responsibility, transparency, and environmental stewardship. Although the law covers some aspects of business ethics, a large portion of ethical codes is independent of legal scrutiny. It is generally up to the individual company to decide on its ethical codes and abide by them; the law covers some ethical norms but certainly not all that would arise in the course of doing business. Ethical business operations have been known to be beneficial financially for the company, which is one reason why business ethics are important. Good ethics results in good business, (Fieser). One example of how ethics might be profitable is that it may help the firm avoid costly lawsuits because they treated employees unfairly, because they dumped toxins in the environment, or because they delivered sub-par consumer goods. Another example of how ethics might be profitable for business is that an ethical company might attract investors. Over the long haul, anShow MoreRelatedCultural Values1541 Words   |  7 Pagespersonal ethics, and morality are all topics that usually have a different meaning for every individual. My personal ethics, morality, and cultural values have developed throughout the many life lessons that I have learned in my 29 years of life. I can still remember a specific Saturday afternoon at my grandparents house. I was sitting on my grandpas lap watching the Do dger game. In between innings my grandfather asked me the question, Aaron it is time you learn about values and ethics. I wantRead MoreBusiness Ethics and Social Responsibility Essay1471 Words   |  6 PagesEthics in the workplace help the organization to grow and prosper. They bring about leadership, work culture and literacy. Ethic are beliefs about what’s right or wrong and good or bad based on individual’s values and morals, plus a behavior social context. Ethical behavior conforms to individual beliefs and social norms about what’s right and good. Unethical behavior conforms to individual beliefs and social norms about what’s wrong or bad. Business ethics refers to ethical or unethical behaviorRead MoreIntroduction. A Code Of Ethics Is A Formal Statement Of1343 Words   |  6 PagesIntroduction A code of ethics is a formal statement of what your business prospects in the way of ethical behavior. Ethics and its unique social function to influence the development of an organization. In the organization, ethics as a correction of people s behavior and soft interpersonal constraints, it can make employees clear justice and injustice and a series of independent moral and moral boundaries, so as to have a clear view of right and wrong, good and evil, improve the efficiency of moralRead MoreThe Basic Principles of Accounting - 11176 Words   |  5 PagesThe Basic Principles of Accounting Cherry Marler ACCT205-1203A-17, IP-1 Instructor Jeffery Bloom June 06, 2012 Abstract Accounting is used for several purposes. Investors, creditors, and individuals use accounting to see whether a business is successful or not. Managers and employees use accounting to make decisions on certain objectives. 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This merged with globalization of market today makes international marketing practices a concern globally that calls for moral responsibility (ethics) in conducting business (Danley, 1983). Ethics in international marketing poses many dilemmas and this is because value judgments differ among different culturesRead More Code Of Professional Ethics By American Institute Of Certified Public1259 Words   |  6 Pages Code of Professional Ethics by American Institute of Certified Public Accountants Introduction quot;A code of professional ethics is a voluntary assumption of self discipline above and beyond the requirements of the law. The Code of Ethical Conduct serves the highly practical purpose to notify the public that the profession will protect the public interestquot; (Carey, Doherty: p 3). When people need a doctor, a lawyer or a certified public accountant, they seek someone whom they can trust toRead MoreWhat Does Ethics Mean? Essay824 Words   |  4 PagesEthically Speaking Years ago, sociologist Raymond Baumhart was researching ethics; he asked a test group of business people, â€Å"What does ethics mean to you?† The group had several different answers: â€Å"Ethics has to do with my religious beliefs.† â€Å"Ethics has to do with what my feelings tell me is right or wrong.† â€Å"Being ethical is doing what the law requires.† â€Å"Ethics consist of the standards of behavior our society accepts.† â€Å"I don’t know what the word means.† The answers of the test group may beRead MoreSustainability Analysis And Reporting System Essay1747 Words   |  7 Pages1. Introduction Corporate sustainability is the capacity of a business to operate for long-term by creating shareholder value and managing risks derived from economic, environmental and social developments. For this purpose, companies need an appropriate system for the evaluation and measurement of their own performance towards stakeholders and for the communication of results achieved. According to Perrini Tencati (2006), a company can creates value if it adopts managerial approach based on sustainabilityRead MoreAlternative Dispute Resolution1493 Words   |  6 PagesLS311-01: Business Law 1 Professor James Starcher May 1, 2012 Disputes, disagreements, differing opinions, and arguments, what do they all have in common? They all involve two persons or groups that have different ideas that are in conflict with the other. When these differences arise we as a civilized society usually are able to work out some solution that may work to the benefit of both parties. This process of resolving these conflicts is called Dispute Resolution. There are three basic categories