Business ethics are important because they help to develop customer and employee loyalty and engagement and contribute overall to a company's viability. Businesses rely on reputation and a lack of moral guidelines can ruin a reputation.Know More
Ethical behavior involves using an overall set of corporate values to govern actions and decisions that come up in business. Using morality to make corporate decisions is part of corporate culture and is seen as a social responsibility.
There are tangible benefits to corporate ethics that are proven by case studies.
Along with loss of customers, employees and corporate reputation, in the worst of cases, unethical corporate behavior and practices can result in death, prosecution and imprisonment.Learn more about Ethics
Ethics and law are closely intertwined as they both have a focus on right and wrong, preventing immoral acts and on creating rules for trade groups such as doctors and social workers. However, ethics and law are quite different as well and ethical obligations often exceed a person's duty to the law.Full Answer >
The three types of ethics include descriptive ethics, normative ethics and metaethics, explains Lander University’s Philosophy Department. Each type has a place in the functionality of a society.Full Answer >
A code of ethics is the guideline that sets acceptable behaviors for a given group of people or profession. For example, physicians typically adhere to a code of ethics. A code of ethics can also be defined as a set of guidelines to which an individual holds himself.Full Answer >
A code of ethics is necessary because it allows individuals to know what is expected of them as acceptable behavior. It provides guidelines on making decisions that are in line with the goals of the organization.Full Answer >