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An organization forms when individuals with varied interests and different backgrounds unite on a common platform and work together towards predefined goals and objectives. [1] A code of ethics within an organization is a set of principles that is used to guide the organization in its decisions, programs, and policies. [2]
It is thus related to concepts such as trust, honesty, consideration, charisma, and fairness. [1] [2] Ethics is concerned with the kinds of values and morals an individual or a society finds desirable or appropriate. Furthermore, ethics is concerned with the virtuousness of individuals and their motives.
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. [citation needed]
Principlism is an applied ethics approach to the examination of moral dilemmas centering the application of certain ethical principles. This approach to ethical decision-making has been prevalently adopted in various professional fields, largely because it sidesteps complex debates in moral philosophy at the theoretical level. [1]
An applied ethics approach to the examination of moral dilemmas can take many different forms but one of the most influential and most widely utilised approaches in bioethics and health care ethics is the four-principle approach developed by Tom Beauchamp and James Childress. [9]
Ethics (also known as moral philosophy) is the branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong conduct. [1] The field of ethics, along with aesthetics , concern matters of value , and thus comprise the branch of philosophy called axiology .
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In ethics and social sciences, value denotes the degree of importance of some thing or action, with the aim of determining which actions are best to do or what way is best to live (normative ethics), or to describe the significance of different actions.