Principles of business ethics

Ethical Principles for Business. Whether you work for a small business or a major corporation, ethical principles matters. The most recent lesson on the importance of business ethics came with the Wall Street collapse, as once highly esteemed financial institutions made headlines for their bad choices and questionable behavior.

While businesses have to meet economic expectations, they also have ethical responsibilities. Everyone, from the bottom to the top of the organizational chart, must take care to meet these responsibilities.

1. Principles of Business Ethics

2. Ethics - is a set of moral principles of value, and the set may be general or professional Appropriate personal behavior - is imposed by society, and moral duties and individuals are guided by general ethics. Professional ethics - practice of ethics above the requirements of the law selected by professionals.

3. It is worthwhile to repeat that these set of moral Principles or value systems have their foundations in the ethics environment . The classical philosophies The religious beliefs Value systems of countries, including the Philippines.

4. There are indicators that the ‘small number’ of enterprises that are mindful of societal interest may be on the uptrend, as technology and customer watch groups directed business toward ethical practices. The cost of the ethical and moral solutions is an expected deterrent. There are socially desirable and ethical practices that, may not entail additional cost/money, such as:

5. Serving an honest day’s work among the employees. Volunteering in waste management promotion like recycling and prevention of the environment Rejecting business products, television stations and other media that promote objectionable shows Uprightness or truth in advertising

6. Production and delivery of organically grown fruits and vegetables and other food products; and Preparation of and obedience to the business code ethics .

7. These are evidence by their compliance to government rules and regulation, including policies and laws set by international ethics . Suki - practice often as weighty as the Professional accreditation system set by an organization’s code of ethics .

8. Organization’s code of ethics- is a formal document that states an organization’s primary values. Reminded that an enterprise also has its responsibility to its: Investors and owner, for fair returns on their investment Customers, for safe products; Suppliers for fair deals; Employees, for decent wages.