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Business ethics (also known as corporate ethics) ... Fairness is the quality of being just, equitable, and impartial. Misuse of company's time and resources: This ...
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 ]
Justice or fairness refers to the idea that an action or decision is morally right, which may be defined according to ethics, religion, fairness, equity, or law. People are naturally attentive to the justice of events and situations in their everyday lives, across a variety of contexts. [ 2 ]
Business ethics further examines the role of honesty and fairness in business practices as well as the moral implications of bribery, conflict of interest, protection of investors and consumers, worker's rights, ethical leadership, and corporate philanthropy. [155]
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.
It is thus related to concepts such as trust, honesty, consideration, charisma, and fairness. [1] [2] Ethics is concerned with the kinds of values and morals an individual or a society finds desirable or appropriate. Furthermore, ethics is concerned with the virtuousness of individuals and their motives.
The acronym FATE refers to Fairness, Accountability, Transparency, and Ethics in sociotechnical systems. FATE is a topic of rising interest as the societal and ethical implications of complex systems such as artificial intelligence (AI), machine learning (ML), and natural language processing (NLP) are increasing.
The Institute of Business Ethics was founded by Neville John Cooper (1924–2002), the chairman of the Christian Association of Business Executives (CABE) from 1985 and a member of the governing council of the Confederation of British Industry (CBI) in 1985–1986, who had worked as a telecom executive during the 1970s and had been an activist for Moral Re-Armament before 1964. [5]