The way the business responds to such issues is depend on their ethics
Definition of ethics – individual’s moral beliefs and values about what is right and what is wrong, good or bad that guide his behavior. It is code of behavior that is acceptable to a person/organization to follow in a given society.
It is a value judgment that may differ in importance and meaning between different individual. Ethics are based on individual beliefs and social standards; vary from person to person, from situation to situation and from culture to culture.
Social standards of individual influence by;
- The behavior af parents and other adults
- Influenced by peers
- Experience shapes our lives and contributed to aur ethical beliefs and our behavior
How employees (managers) make a decisions is depends on their moral and belief.
Business ethics is a term used to refer to ethical and unethical behaviors by employee of commercial organizations.
Ethical behavior – behavior which is conforming to generally accepted social norms concerning beneficial and harmful actions.
Ethical objectives – are targets based on a moral code(ethical code) for the business, for example ‘doing the right thing’. The growing acceptance of corporate social responsibility has led to businesses adopting an ‘ethical code’ to influence the way in which decisions are taken.
Ethical code – a document detailing a company’s rules and guidelines on staff behavior that must be followed by all employees.
Codes of ethics /policies/code of practice - A set of principles to determine employees’ behavior.
Its employees may refer to this when faced with decision or dilemma (as a guidelines).
Guidelines to the moral principles or values used by organization to steer conduct.
Its should include:
• Behavior towards the environment, eg when deciding on the process
• Personal behavior eg when…...