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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]
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 ...
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.
Furthermore, a general business and human rights treaty would have to be constructed at such a high level of abstraction that any practical applicability would be diminished. [14] In this sense, the UNGPs are more favourable because being a "soft law" instrument has allow them be comprehensive and more appealing to Governments.
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 Sullivan principles, introduced in 1977 with one addition in 1984, consisted of seven requirements a corporation was to demand for its employees as a condition for doing business. In general, the principles demanded the equal treatment of employees regardless of their race both within and outside of the workplace, demands which directly ...
In law and ethics, universal law or universal principle refers to concepts of legal legitimacy actions, whereby those principles and rules for governing human beings' conduct which are most universal in their acceptability, their applicability, translation, and philosophical basis, are therefore considered to be most legitimate.
Acceptability is an amorphous concept, being both highly subjective and circumstantial; a thing may be acceptable to one evaluator and unacceptable to another, or unacceptable for one purpose but acceptable for another. Furthermore, acceptability is not necessarily a logical or consistent exercise.