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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]
Professional responsibility is defined by professional accepted standards of personal behaviour, moral values, and personal guiding principles. [16] Codes for professional responsibility may be established by professional bodies or organizations to guide members in performing functions to a consistent ethical set of principles. [ 17 ]
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.
The function of developing and implementing business ethics in an organization is difficult. Due to each organization's culture and atmosphere being different, there is no clear or specific way to implement a code of ethics in an existing business. Business ethics implementation can be categorized into two groups; formal and informal measures.
A code of practice is adopted by a profession (or by a governmental or non-governmental organization) to regulate that profession. A code of practice may be styled as a code of professional responsibility, which will discuss difficult issues and difficult decisions that will often need to be made, and then provide a clear account of what behavior is considered "ethical" or "correct" or "right ...
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 ]
Applied ethics – using philosophical methods, attempts to identify the morally correct course of action in various fields of human life.. Economics and business Business ethics – concerns questions such as the limits on managers in the pursuit of profit, or the duty of 'whistleblowers' to the general public as opposed to their employers.
Professionalism is a set of standards that an individual is expected to adhere to in a workplace, usually in order to appear serious, uniform, or respectful.What constitutes professionalism is hotly debated and varies from workplace to workplace and between cultures.