How is ethics a key to success?
Employee Ethics
Employees make better decisions in less time when business ethics are a guiding principle.
This increases productivity and overall employee morale.
When employees work in a way that is based on honesty and integrity, the whole organization benefits..
Types of business ethics
Accountable leadership is key
Ethical businesses have a high moral code and expect honest and trustworthy behavior from everyone in their organizations.
Chief executive officers and other high-level company leaders hold themselves accountable for following and enforcing the same ethical standards as their employees..
Types of business ethics
The notion of ethics in business can be traced back to the earliest forms of bartering, based on the principle of equal exchange.
Countless philosophers and economists have examined the topic, from Aristotle and his concept of justice to Karl Marx's attack on capitalism..
What are the 5 levels of business ethics?
The six elements that must be in place to support a code of ethics in a company are respect, fairness, care, trust, responsibility, and goodness..
What are the 7 codes of business ethics?
The five levels of business ethics are compliance, legal, ethical, economic, and philanthropic.
Companies use these levels for ethical reasoning and moral decision-making.
At the compliance level, businesses comply with the laws and regulations that govern their industry..
What is ethics in your own words?
Ethics examines the rational justification for our moral judgments; it studies what is morally right or wrong, just or unjust.
In a broader sense, ethics reflects on human beings and their interaction with nature and with other humans, on freedom, on responsibility and on justice..
- Key Points
Ethics reflect beliefs about what is right, what is wrong, what is just, what is unjust, what is good, and what is bad in terms of human behavior.
Ethical principles and values serve as a guide to behavior on a personal level, within professions, and at the organizational level.
