Business ethics should be based on broad guidelines of what should be done and what should be avoided. In every society there are three sources of business ethics-Religion, Culture and Law. The Business Ethics refers to the system wherein what is right and wrong, just and unjust, good or evil is studied about the actions of the businessmen.
Law breaking in business is common eg.
It is believed that ethics is a manifestation of the divine and so it draws a line between the good and the bad in the society. They are meant to guide human behavior within the social fabric.
Credibility in the Public: It is a code Sources of ethics conduct that is supposed to align behaviors within an organization and the social framework. During the early years of human development where ones who were the strongest were the ones who survived!
Everybody likes to be associated with an organisation which the society respects as a honest and socially responsible organisation. The human civilization is cumulative of cultural experience that an individual passes through during his lifetime. Business ethics should take into consideration the following factors: See Matter of Skokos, N.
Moreover culture is passed from generation to generation. State bars also administer bar exams and generally regulate entry into the profession. Religion is the basis of an individual that he follows from his childhood and is deeply rooted in his behaviors.
Managers have to run an industrial enterprise on the cutting edge of cultural experience.
The major problem with the law is that all the ethical expectations cannot be covered by the law and specially with ever changing outer environment the law keeps on changing but often fails to keep pace. Business Owner A main source for an organizational code of ethics is the business owner.
The courts decide cases by applying facts to the law. Meaning, Sources and Importance Article shared by: The Principle of Reciprocity, i. The Principle of Reciprocity, i. Respect for ethics will force a management to take various economic, social and ethical aspects into consideration while taking the decisions.
For example, ethics followed by Infosys are different than those followed by Reliance Industries or by Tata group for that matter.
Culture encourages the members of the organisation to give priority to organizational goals over and above their personal interests.Sources of Business Ethic: In every society there are three sources of business ethics-Religion, Culture and Law.
The HR manager in every organisation, thus, has to be well versed with the unique system of values developed by these three sources. Five Sources of Ethical Standards The Utilitarian Approach Some ethicists emphasize that the ethical action is the one that provides the most good or does the least harm.
The three primary schools of ethics that can be used in discussing ethical problems and dilemmas are care-based ethics, rule-based ethics, and end-based ethics.
In the case of ethical dilemma number 2, if one were to apply care-based ethics, then both of the adult parties in the situation would yield to what would be best for the child. A main source for an organizational code of ethics is the business owner.
These individuals choose the ethical stance of their company since they are responsible for all aspects of the organization.
A final source of ethical insight (more a way of developing one's ethical awareness and sensibilities than a separate source of ethical guidance) is pondering ethical dilemmas. These dilemmas are real or imagined situations that pit two or more ethical principles, rules, or objectives against one another.
Sources of Business Ethics Ethics in general refers to a system of good and bad, moral and immoral, fair and unfair. It is a code of conduct that is supposed to align behaviors within an organization and the social framework.Download