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These norms, values, ethical, and unethical practices are the principles that guide a business. [2] Business ethics refers to contemporary organizational standards, principles, sets of values and norms that govern the actions and behavior of an individual in the business organization.
The American Psychological Association (APA) Ethical Principles of Psychologists and Code of Conduct (for short, the Ethics Code, as referred to by the APA) includes an introduction, preamble, a list of five aspirational principles and a list of ten enforceable standards that psychologists use to guide ethical decisions in practice, research, and education.
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 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 ...
There are at least four elements that aim to create an ethical culture and behavior of employees within an organization. These elements are: a written code of ethics and standards (ethical code) ethics training for executives, managers, and employees; the availability of ethical situational advice (i.e. advice lines or offices)
Morality can be a body of standards or principles derived from a code of conduct from a particular philosophy, religion or culture, or it can derive from a standard that is understood to be universal. [2] Morality may also be specifically synonymous with "goodness", "appropriateness" or "rightness".
According to Aristotle, how to lead a good life is one of the central questions of ethics. [1]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.
Most traditional moral theories rest on principles that determine whether an action is right or wrong. Classical theories in this vein include utilitarianism, Kantianism, and some forms of contractarianism. These theories mainly offered the use of overarching moral principles to resolve difficult moral decisions. [citation needed]