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Businesses must create an ethical business climate in order to develop an ethical organization. Otherwise said, companies must focus on the ethics of employees in order to create an ethical business. Employees must know the difference between what is acceptable and unacceptable in the workplace.
Ethical issues arising out of international business transactions—e.g., bioprospecting and biopiracy in the pharmaceutical industry; the fair trade movement; transfer pricing. Issues such as globalization and cultural imperialism; Varying global standards—e.g., the use of child labor
Ethics are an accountability standard by which the public will scrutinize the work being conducted by the members of these organizations. The question of ethics emerges in the public sector on account of its subordinate character. Decisions are based upon ethical principles, which are the perception of what the general public would view as correct.
In its 2007 International Good Practice Guidance, "Defining and Developing an Effective Code of Conduct for Organizations", provided the following working definition: "Principles, values, standards, or rules of behaviour that guide the decisions, procedures, and systems of an organization in a way that (a) contributes to the welfare of its key stakeholders, and (b) respects the rights of all ...
The following outline is provided as an overview of and topical guide to ethics.. Ethics (also known as moral philosophy) is the branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong conduct. [1]
Applied ethics is the practical aspect of moral considerations. It is ethics with respect to real-world actions and their moral considerations in private and public life, the professions, health, technology, law, and leadership. [1]
Some professional organizations may define their ethical approach in terms of a number of discrete components. [4] Typically these include honesty, trustworthiness, transparency, accountability, confidentiality, objectivity, respect, obedience to the law, and loyalty.
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 ]