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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.
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.
Strasnick, T. (1981) "Neo-utilitarian Ethics and the Ordinal Representation Assumption", in Philosophy in economics, edited by J. Pitt, Reidel Publishing. Luetge C., ed. 2013, Handbook of the Philosophical Foundations of Business Ethics. Heidelberg/New York: Springer, ISBN 978-9400714953
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.
In social exchange theory the effect of ethical leadership on followers is explained by transactional exchanges between the leader and their followers. The leader's fairness and caring for followers activates a reciprocatory process, in which the followers act in the same manner towards the leader.
Work ethic is a belief that work and diligence have a moral benefit and an inherent ability, virtue or value to strengthen character and individual abilities. [1] Desire or determination to work serves as the foundation for values centered on the importance of work or industrious work.
A business may approach a professional engineer to certify the safety of a project which is not safe. While one engineer may refuse to certify the project on moral grounds, the business may find a less scrupulous engineer who will be prepared to certify the project for a bribe, thus saving the business the expense of redesigning.