business ethics

Examples of business ethics in the following topics:

• Moral Principles in Management

  • Business ethics deals with the beliefs and principles that guide management decisions.
  • Business ethics (also corporate or professional ethics) is a form of applied ethics that examines the principles and moral beliefs that guide management decisions.
  • In particular, business ethics is concerned with situations when those obligations are inconsistent with economic or strategic choices, or are in conflict with each other.
  • Business ethics applies to all aspects of business conduct by individuals and organizations as a whole.
  • Recognize the importance of ethics in the business environment, particularly how individual managers should employ these principles

• Codes of Conduct

  • As part of comprehensive compliance and ethics programs, many companies formulate policies pertaining to the ethical conduct of employees.
  • They are generally meant to identify the company's expectations of workers and to offer guidance on handling some of the more common ethical problems that might arise in the course of doing business.
  • There are three types of ethical codes: codes of business ethics, codes of conduct for employees, and codes of professional practice.
  • A code of business ethics often focuses on social issues.
  • State the importance of utilizing a code of conduct to outline and maintain ethical business standards within an organization

• Defining Ethics

  • Ethics are the set of moral principles that guide a person's behavior.
  • Ethics are the set of moral principles that guide a person's behavior.
  • The phrases business ethics and corporate ethics are often used to describe the application of ethical values to business activities.
  • Ethics applies to all aspects of conduct and is relevant to the actions of individuals, groups, and organizations.
  • In addition to individual ethics and corporate ethics there are professional ethics.

• Training Ethical Decision Making

  • Organizations use compliance and ethics programs to demonstrate and reinforce their commitment to ethical practices.
  • On a more practical level, a compliance and ethics program supports the organization's business objectives, identifies the boundaries of legal and ethical behavior, and establishes a system to alert management when the organization is getting close to (or crossing) a legal or ethical boundary.
  • Ethics training inside corporations is aimed at helping employees address the moral dimension of business decisions.
  • In every type of business, ethics are needed to keep business standards high.
  • Recognize the value in ensuring that managers are trained in business ethics and legal standards, particularly in light of the growing complexity of legal factors

• Blurring Ethical Lines

  • Law and ethics are not the same thing.
  • A business may operate in a country that permits actions that would be considered unethical under that business's ethical code.
  • A company might consider the gift an unethical bribe in exchange for a customer's business, yet it may be essential to enter a new market.
  • Does an American company have the right to order factory owners in China to change their way of doing business?
  • Analyze the gray areas of ethical expectations within the context of corporate decision making and ethical business practice

• The Challenge of Ethics and Governance

  • First and foremost in corporate governance is the strict adherence to business ethics on a professional level.
  • At its most basic, ethical behavior can first be derived via the laws, rules, and regulations of the country in which a business operates.
  • This dissonance is exacerbated by the global economy, which sees businesses operating within communities towards which they have no dependence or direct sensitivity.
  • The 2008 financial collapse is a wonderful yet terrifying example of exactly what can go wrong and why corporate governance and ethics is of such importance to both a business and the society in which it operates.
  • Managers must be responsible because businesses as a whole cannot, and this responsibility towards integrity lies at the heart of management.

• Ethics in Organizational Communications

  • A business must practice ethics in organizational communication to establish and maintain a positive image.
  • A business can shape and protect its images by carefully crafting its communication strategies.
  • Commitment to socially responsible business practices can also help organizations establish and communicate an ethical code.
  • Customers appreciate social responsibility; as a result, companies that practice CSR can gain more business and also maintain their business more easily.
  • Some companies that value CSR have joined socially responsible business networks.

• Promoting Ethical Behavior through the Planning Process

  • Building ethical considerations into a business strategy via the planning process is an important element of ethics management.
  • Ethical Training: Investing in training employees and managers in how integrate ethics into their process is a critical aspect of developing a strong ethical culture.
  • Situational Advice (Ethics Officers): Having ethics officers available for consultation is a great way to handle ethical issues as they arise internally.
  • Employees and managers may encounter ethical dilemmas that the Code of Ethics and ethics training don't address.
  • The ethics officer can also use these situations to improve the organization's ethical strategy.

• Issues in Marketing

  • Each party in a marketing transaction brings a set of expectations regarding how the business relationship will exist and how transactions should be conducted.
  • Each facet of marketing has ethical danger points as discussed below.
  • Some ethical problems in market research are the invasion of privacy and stereotyping.
  • To market ethically and effectively one should be reminded that all marketing decisions and efforts are necessary to meet and suit the needs of customers, suppliers, and business partners.
  • The mindset of many companies is that they are concerned for the population and the environment in which they due business.

• Culture and Ethics

  • Culture reflects the moral values and ethical norms governing how people should behave and interact with others.
  • Culture reflects the moral and ethical beliefs and standards that speak to how people should behave and interact with others.
  • This is where culture intersects with ethics.
  • Compared to the French, American companies consider it to be a natural part of business.
  • Explain the role of culture in shaping moral and ethical behavior