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In business ethics, Ethical decision-making is the study of the process of making decisions that engender trust, and thus indicate responsibility, fairness and caring to an individual. To be ethical, one has to demonstrate respect, and responsibility. [ 1 ]
The Society for Business Ethics was founded in 1980. European business schools adopted business ethics after 1987 commencing with the European Business Ethics Network. [12] [13] [14] In 1982 the first single-authored books in the field appeared. [15] [16]
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]
The Journal of Business Ethics aims [2] to improve the human condition by providing a public forum for discussion and debate about ethical issues related to business. The journal's emphasis is on the "ethics" of business ethics, with the goal of promoting dialogue between diverse publics, both academic and civil society.
Professional ethics encompass the personal and corporate standards of behavior expected of professionals. [1] The word professionalism originally applied to vows of a religious order. By no later than the year 1675, the term had seen secular application and was applied to the three learned professions: divinity, law, and medicine. [2]
Friedman introduced the theory in a 1970 essay for The New York Times titled "A Friedman Doctrine: The Social Responsibility of Business is to Increase Its Profits". [2] In it, he argued that a company has no social responsibility to the public or society; its only responsibility is to its shareholders. [2]
Whole-person specialty care, a model where a comprehensive care team works together to coordinate personalized and individualized treatment, is offering renewed hope for patients.
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.