Login with Facebook

What is business ethics and code of ethics

Have you noticed that one of our most frequent topics of conversation is companies? Most of us work in or interact with companies, which is why we are so affected by their practices. To understand how a company should act and compare it with what it really does, we must know what business ethics is. 

What is business ethics?

The definition of business (or corporate) ethics can be expressed in many ways, but in this case, we found the concept of business ethics that Wikipedia shows us very accurately. According to Wikipedia, business ethics is a type of professional ethics that analyzes the ethical and moral principles that arise in the business world. It encompasses all aspects of corporate behavior, that is, the individual behaviors of individuals and the behaviors of organizations as a whole.

Main characteristics of business ethics

Corporate ethics deals with all kinds of rules that guide the action of companies. The establishment of some norms or others has to be justified. Said foundation is not imposed, but dialogues among all those affected by said norms. The dialogue must be impartial and without any type of obligation or pressure towards some options or others. Business ethics will also clarify for us the resolution of ethical conflicts in business strategies. So those corporate ethics are not left alone in theory, all these characteristics will be specified in a written code.

The code of business ethics

There is no standard that outlines the steps to follow in drafting a code of business ethics. Anyway, we give you under these lines a series of guidelines to observe in case you have to write one of these codes.

- The ethical values that the company assumes must appear, as well as the tasks, goals, and the role that the company must fulfill in society.

- The code must indicate four types of behavior: compulsory, optimal, desirable, and prohibited. The text must be clear enough so that the reader knows how to distinguish these behaviors.

- The system of penalties and how to apply them fairly will be established. The penalties must be proportional to the responsibility of the employee in the evaluated conduct. Likewise, the rewards for good behavior will be established.

- In line with the previous point, it will also establish how to evaluate behaviors, which will apply sanctions and how ethical dilemmas will be solved.

Nowadays, the approach of an ethical code in companies is increasingly important. Perhaps some companies still see it as something very theoretical, but they are changing their minds because they realize the advantages it has. We explain them below.

Benefits and importance of business ethics

Compliance with ethical standards has numerous benefits for companies, both internal and external.

- The application of an ethical code prevents situations of risk since conflicts are tried to be solved in the company itself, before becoming regulated by law.

- A company that takes its ethical standards seriously generates greater confidence in collaborators, shareholders, and customers since it will be considered more transparent.

- The ethical code grants uniformity to the performance of the company. Both its staff and its collaborators must respect the same principles.

Businesses are getting smarter and have realized that the best way to attract talent is to publicize ethical values ​​that are respectful of people. This makes more qualified people eager to work in such companies.

Differences between business ethics and social responsibility

The number of companies with a social responsibility plan is growing every day. In fact, the concept of social responsibility is better known than that of business ethics. The social responsibility is related to business ethics but does not confuse the two. As we have seen in the development of the article, the scope of corporate ethics lies within companies. However, the concept of social responsibility is broader. It refers to the impact on society of the activities of companies. A very clear example of corporate social responsibility is a commitment to the environment. Given all these considerations, we are going to study different examples of business ethics in companies that we all know.

Main components

There are innumerable reasons to implement a code of ethics in companies, but the most important thing is that it helps to carry out a job that the rest of the people involved in it and we can be proud of. The practical applications to meet the requirements of business ethics are diverse and have the common goal of achieving quality results that encompass the business in an appropriate profile.

The main components that accompany business ethics include increasing responsibility towards the environment, fighting discrimination in every way. (By sex, race, religion or physical condition, etc.) and the development of a commitment to culture. Polishing business ethics will help protect employees' rights, as well as respect their needs. The company will be more honest, will have a more globalized vision, and will have the capacity to make its environment healthy and safe. Adopting for this will convey continued transparency, reduce margins for corruption, and ensure integrity in all work and development processes.

We can say that we are acting ethically in our company when two circumstances are met. The first is that we have accepted and defined our criteria and values ​​for the way in which we act with respect to the different interest groups. The second is that we have defined ethical practices to adapt the business to the demands in this area. For this, it will be necessary to create a series of reports and documents that allow establishing corporate ethics so that it reaches everyone in the company. We can achieve this through documents that meet the corporate code of ethics, through communications sent from the communication department and through the creation of ethical training programs that allow employees to be educated. Introducing all members of the company in search of a more conscious profile will help the company achieve its objectives in less time.

For this process to achieve the most beneficial results, codes of ethics and conduct will have to be stipulated through the participation of the top managers of the businessbusiness ethics, as well as the managers of the human resources department. Achieving the best result will depend on the existence of a well-formed unity concept around the workforce and thinking about searching for the perfect approach that will help define the business both internally and externally. Boosting business ethics will yield positive results from the start and will enable businesses to go even further than they might have thought.

Author: Vicki Lezama


Comments

Need a custom
essay?

We will write it for you.
Order now

Free Essay Examples

Free essays:

All you need to know about Neuroendocrinology
All you need to know about Big data management
All you need to know about digital special effects
All you need to know Technical Writing?
Basics the Game Theory in Cryptoeconomics
Business innovation ideas for making money
Biosensors for cancer diagnosis
Business Analysis: Pricing strategies and Demand Curve
Conservation Economics
Cybersecurity in business: challenges, risks, and practices
Corporate Behavior
Compare and contrast the political theories
Determinants of Wages
Deontology Vs. Utilitarianism
Development of Advertising
Digital Illiteracy
Economy and Air Pollution
Economic Externalities and How to Deal with Them
Economic Analysis of Market Structure
Expected Utility
Factors Affecting Purchasing Behavior
Financial Statement Analysis
Factors Influencing Interest and Exchange Rates
Fiscal and Monetary Policies in Response to 2008/2009
Game theory in microeconomics
Globalization: definition, causes, social impact and risks
Gene expression: what it is and why it is important
Global environmental issues
How women can manage sexual harassment
How to conduct economic research?
How to define the Enterprise Value
How cancer is developed - Cancer biology
Introduction to Labor Markets
Investment in Human Capital
Intellectual Property and Product Liability
Introduction to Social Choice and Incarceration
Journalism: What is News?
Journalism: Broadcast media and Television Presenters
Journalism: Sources of News
Journalism and Law
Key Determinants of National Income
Key Factors That Affect Pricing Decisions
Kinetic models in biology and Related fields
Know about the different forms of traditional African dances
Latest technology trends
Latest dance trends
Microeconomic Analysis to the Demand for Labor
Modern journalism
Neuromuscular disorders
National Economies, Fluctuation, and Responses to Fluctuations
Neurotransmitters: what they are and different types
Nanomedicines to target tumors
Organizational motivation and its effects
Overcoming Hiring Challenges for Nonprofit Organization
Policy in Corporate Mergers
Political theories of John Locke
Research and Development
Risk Sharing in Insurance and Asset Markets
Risk and the value of information
Reverse discrimination.
Structure of a Corporation
Schizoaffective disorder: how to live better with it
Segregation in the US.
Stages of the Consumer Decision-Making Process
The Role of Internal Audit in Corporate Risk Management
The Use of Law on Economics and Vice Versa
The political theory of Thomas Hobbes
The Game Theory in Social Media
Unemployment
Utilitarianism Vs. Kantianism
Understanding Auctions and Auction Theory: Part 2
Understanding Auctions and Auction Theory: Part 1
Various theoretical perspectives of sociology
Virtual reality, what it is and how it works
What is Neuroplasticity?
What is the 7 layers of OSI model?
4 Facts about Origin of Mathematics!
5 techniques to create an animation
10 emerging technologies according to World Economic Forum
10 strategies to maximize corporate profits
3d Model Of Building
6 Medical Technologies that revolutionized the healthcare in 2020
All you need to know about the ACA Code of ethics
Architecture and Democracy: An Introduction
Architecture and Democracy: Democratic Values
Architecture and Democracy: Democratic Procedures
All You Need to Know About a Synthesis Essay
An essential guide to understanding Film Theory
Application of Artificial Intelligence in Cyber Security
Applications of electrical engineering
Augmented reality: what it is, how it works, examples
Advantages And Disadvantages Of Social Networking
All you need to know about Cryptography
Applications of astrophysical science
All you need to know about architecture engineering
Applications of geological engineering
Artificial intelligence and medicine: an increasingly close relationship
An insight into Computational Biology
ACA code of conduct
A Rose for Emily
Applications of Mathematics in daily life
Architecture mistakes to avoid
All you need to know about Toxicology
All you need to know about Holistic Medicine
All you need to know about linguistics
An introduction to Linguistics and its subfields
All you need to know about Anxiety disorder
All you need to know about Drones
A Brief Insight into Political Science
Assumptions related to feminism
All you need to know about Byzantine emperors
All you need to know about labour economics
An insight into xenobots -the first-ever robots
An ultimate guide about Biomaterials
A Comprehensive Introduction to the Mona Lisa
Analysis methods of Transport through biological membranes
An ultimate guide about biochemical reactions
Analysis of brain signals
Artificial Gene Synthesis
Application to synthetic biology of CAD methods
All you need to know about metabolic pathways
Applications of BIOMEMS
All you need to know about the epidemiology
Asian vs. western leadership styles
All you need to know about Smart prosthesis
Analysis of Economy: Output of Goods and Services (GNP), and GDP on Economic success
A Guide to Pricing Strategies
An Overview Of Economic Studies
Analysis of Fiscal and Monetary Policies
Analysis of Business Cycles
Analysis of Consumption and Investment
A Look into Regression Analysis
Analysis of Household's Consumption and Savings Behavior
All you need to know about Capital Budgeting
All you need to know about risk management
Art looted in wartime.
Appropriate use of Data in Economics
All you need to know about reaction kinetics?
A historical overview of Financial Crises
All you need to know about management discipline?
An insight into the error-correction models
All you need to know about Data visualization
All you need to know about Work-family balance
All you need to know Technical Writing?
All you need to know about digital special effects
All you need to know about Big data management
All you need to know about Neuroendocrinology
How to Write a Personal Essay
Housing Needs in America
How to Write a Description Essay
How to Create an Excellent Scholarship Essay?
How to write a cause and effect essay
How to Hire the Best Essay Writing Service Provider?
How to Write a College Application Essay?
How to get the most out of your English lectures
How to write Expository Essay
How to succeed in your psychology class?
How to Write an Academic Essay in the Shortest Time?
History of Journalism
How Different Sectors are Using Artificial intelligence (AI)
How to write an informative essay
How to deliver persuasive essays?
How to Give a Convincing Presentation
How to write an essay on leadership?
Historical Art Still Around Today
Humanoid robot: what it is, how it works and price
History of Chemistry
Healthcare Advanced Computer Power: Robotics, Medical Imaging, and More
Healthcare AI: Game Changers for Medical Decision-Making and Remote Patient Monitoring
How to understand different types of English
How to Cope with Chronic Pain
How African American choreographers and dancers have influenced American dance
How mobile robot can do in logistics or in production
How To Become a Successful Entrepreneur
History of the Philosophy of Feminism
How is the climate changing?
How to Track Your Content Marketing ROI
How to Gun control In the USA?
Historical and contemporary role of labour in the modern world
How breast cancers are classified?
How the cells of our body communicate?
How the Lymphatic System Works?
How Digestive System Works
How to complete your capstone projects effectively?
How to write a research project
Healthcare technologies that help patients with better self-management
How to choose the topic of the senior capstone project
How to make your business survive at economic crisis
How can immigrants blend in the American society?
How does the economics of war affect society?
Hate speech on social media.
How to Build an Economic Model
How to start a healthcare startup?
How can financial illiteracy harm you?
How cancer is developed - Cancer biology
How to define the Enterprise Value
How to conduct economic research?
How women can manage sexual harassment
Introduction to Urban Studies
Importance of dance in education
InMoov: how to build an open source humanoid robot
Importance of KYC verification to making the Blockchain secure
Importance of Rhythm
Importance of dance student evaluation
I/O control methods -types and explanations
Identity theft: what to do?
Introduction to Utilitarianism
Importance of 3d Modelling in Architecture
Importance of online journalism
Image processing in medical diagnosis
Introduction to USA Politics
Introduction to Comparative Politics
International Relations as a Major in Political Science
Importance of modern trade policy
Introduction to Journalism
Introduction to Writing a TV Script
Introduction of Microfabrication techniques
Introduction to Microeconomics
Interaction of Consumer and Firm Choices in Markets
Importance of corporate sustainability
Issues in International Monetary Macroeconomics
Introduction to Statistics and Data for Economics
Introduction to Data and Probability for Economics
Introduction to the Game Theory
Introduction to Econometrics
Introduction to Economic Information
Introduction to Market Equilibrium
Introduction to Economic Models and Application
Introduction to Empirical Research
Introduction to Econometric Data
Importance of Critical Thinking, Principles, and Goals
Introduction to Identification and Causal inferences
Introduction to Econometric Application
Intermediaries and Government in Financial Crisis
Importance and seven principles of quality management
Illiteracy in the USA
Introduction to Economics of Law
Introduction to Coase Theorem
Introduction to Social Choice and Incarceration
Intellectual Property and Product Liability
Investment in Human Capital
Introduction to Labor Markets
The Looming Energy Crisis in America
Top benefits of performance-based engineering
The More Languages You Know, The More Times You Are a Man
Things to consider while writing an Argumentative Essay
Top Ways to Improve Your Academic Writing Skills
Tips to Excel in Creative Writing
The origins of films in the early 19th century
Top career options in Architecture
The Elevator Pitch
Top finance trends 2020
The basic Structure and functionality of robots
The Way to Success
The election system of the President in the United States of America
Two-party System in United States of America
Top trends in urban design
The history and theory of African American filmmaking
Top benefits of creative writing
Tinnitus Guide: Common Symptoms and Treatment Options
The language of dance
The digital image processing management
Top famous politicians of the World
Top methods of political science!
The history of the feminist movement
The blood flow in cardiovascular system - Biofluid Mechanics
The best of Leonardo Da Vinci
The Structure and Function of Macromolecules
The structure of cell: a research on the bricks of the human body!
Tissue and organ construction: Adhesion and recognition between cells
The kinetics of the transformation processes
The Modeling of Biological Systems
Tips for writing a great thesis statement
The Defense mechanisms against infections
The impact of the technological innovations in medicine
Top journalism trends to know about
The relation between mass media & politics
Theranostics: Diagnosis and Care through Nanoparticles
The practical Applications of X-rays
The applications of Ultrasound in medicine
Transfer mechanisms of genetic information in Bacteria
The regulation of cellular metabolism in the diagnosis
The Principles of MRI Contrast agents
The technical basis of optical coherence imaging
The New Media: Emerging Trends
The Structure of Interest Rates and the Yield Curve
Technological perspectives and reflections of neural engineering
Types of bioreactors and their applications
The Role of Government Policy in Improving Economic Outcomes
Types of corporate responsibility
The Role of IMF in International Monetary Macroeconomics
Tools for investment decision making
The concept of Organizational Culture and its applications
The Conduct of Monetary and Fiscal Policy
The Basics of Financial Accelerator Models
Tips for labeling medical devices- Medical Entrepreneurship
The different medical imaging techniques
The Economics of Uncertainty – Introduction
Theories of Public Policy
The Game Theory in Social Media
The political theory of Thomas Hobbes
The Use of Law on Economics and Vice Versa
The Role of Internal Audit in Corporate Risk Management
What is a Definition Essay?
What are diagnostic essays?
What is the relation between art structural engineering?
What is a Narrative Essay
What are robotics and intelligence systems?
What are the benefits of studying health sciences?
What is artificial intelligence and why it matters?
What is comparative Literature?
Why study neuroscience
What is Wi-Fi and how does it works
What is French history famous for?
What are Humanistic Studies?
What is covered in Biophysics?
What is modern journalism?
What is Virtualization? Benefits & Applications
What are modern public relations?
What is plasma physics?
What is teacher preparation?
What is rapid prototyping for 3D printing?
What is contemporary European Politics?
Why should you learn American Ballet?
What is engineering physics?
What is the purpose of African American Literature?
Ways to learn the Rhythm
What is digital art used for?
What are Enzymes and how do they work
Who is the father of political science?
Why Study Political Science - Job?
What is the Philosophy of Feminism?
What is a quantum computer?
Ways B2B Startups Streamline Their Conversion Strategies
Why do biomedical signals need processing?
What are the long term effects of climate change?
Why study labour relations
What is Holoprosencephaly?
What is antisocial disorder?
What are the important principles of evolution?
What is the cytoplasm and its function?
What is biopolymers?
What Makes a Good Leader
Women empowerment in modern generation
What is the history of political thought?
What is Gene recombination
What is synthetic biology
What is business cost analysis?
What is Inflation
What are the consequences of unemployment?
What is lithotripsy and its types?
What is transition elastography?
What is the purpose of deep brain stimulation?
What is a Brain-Computer Interface (BCI)
What is neuroethics?
What is Market and Supply and Demand
What is optogenetics?
What are the techniques to record brain activity?
What happens if the interest rate increases?
What is immunotherapy?
What is the economic role of the financial market?
What are the factors behind illegal immigration?
What is the lymphocyte activation?
What is financial market and its types?
What is the structure of financial markets?
What are the methods of measuring business performance?
What is the Credit market?
What is business ethics and code of ethics
What are the Causes of financial instability?
What is MBA with Concentrations
What is regenerative medicine?
What is Population ecology?
What is Microfinance: evolution, and practices?
What is biotechnology and its applications?
What are Workplace diversity and its benefits?
What is the difference between a leader and a manager?
What Is Branding and best branding Business strategies?
Why are microelectronics important?
What are biologic drugs.
What is the Foreign Exchange market?
What is the role of scientific research in times of crisis?
What are the risks of international trade?
What is financial management?
What is gene therapy?
What is education economics?
What is regression analysis, and why should you use it?
What Is Technology Marketing And How Should It Work?
What is Management Accounting
What are the methods of valuation of companies?
What is Immune System and Immunotherapy?
What is big data analytics?
What is the 7 layers of OSI model?
What is Neuroplasticity?