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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]
An estimate that turns out to be incorrect will be an overestimate if the estimate exceeds the actual result [3] and an underestimate if the estimate falls short of the actual result. [4] The confidence in an estimate is quantified as a confidence interval, the likelihood that the estimate is in a
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 ...
Since combining quantitative, probabilistic information with estimates is successful in business forecasting, marketing, medicine, and epidemiology it should be implemented by the intelligence community as well. These fields have used probability theory and Bayesian analysis as forecasting tools. Using probability theory and other stochastic ...
Eastern ethics in business; Employee-driven growth; Enron Code of Ethics; Entrepreneurial feminism; Ethical decision-making; Ethical implications in contracts; Ethics in business communication; Ethics in mathematics; Ethics in pharmaceutical sales
The English word ethics has its roots in the Ancient Greek word êthos (ἦθος), meaning ' character ' and ' personal disposition '. This word gave rise to the Ancient Greek word ēthikós (ἠθικός), which was translated into Latin as ethica and entered the English language in the 15th century through the Old French term éthique. [6]
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.
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 ]