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t. e. Business ethics (also known as corporate ethics) is a form of applied ethics or professional ethics, that examines ethical principles and moral or ethical problems that can arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. [1]
Ethical decision-making. 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] Ethical decision-making requires a review of different options ...
Tone at the top. "Tone at the top" is a term that originated in the field of accounting and is used to describe an organization's general ethical climate, as established by its board of directors, audit committee, and senior management. Having good tone at the top is believed by business ethics experts to help prevent fraud and other unethical ...
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] For example, bioethics is concerned with identifying the best approach to moral issues in the life sciences, such ...
Ethical dilemma. In philosophy, an ethical dilemma, also called an ethical paradox or moral dilemma, is a situation in which two or more conflicting moral imperatives, none of which overrides the other, confront an agent. A closely related definition characterizes an ethical dilemma as a situation in which every available choice is wrong.
Friedman doctrine. The Friedman doctrine, also called shareholder theory, is a normative theory of business ethics advanced by economist Milton Friedman which holds that the social responsibility of business is to increase its profits. [1] This shareholder primacy approach views shareholders as the economic engine of the organization and the ...
Ethics, also called moral philosophy, is the study of moral phenomena. It is one of the main branches of philosophy and investigates the nature of morality and the principles that govern the moral evaluation of conduct, character traits, and institutions. It examines what obligations people have, what behavior is right and wrong, and how to ...
Integrity is the quality of being honest and showing a consistent and uncompromising adherence to strong moral and ethical principles and values. [1][2] In ethics, integrity is regarded as the honesty and truthfulness or earnestness of one's actions. Integrity can stand in opposition to hypocrisy. [3] It regards internal consistency as a virtue ...