Definition Of Ethics

1954 Words 8 Pages
Definitions of ethics
We can define ethics in many ways because every person is different from others, which means people have various ethical values. Ethics is the concept of human values, which defines what is right or wrong. It includes many concepts like study of universal values, human or natural rights, health, morality, safety and obedience of law. Like I explained it before, every individual has different approaches to explain the definitions of ethics. Another definition for ethics is “the consensually accepted standards of behavior for an occupation, trade or profession.” This definition is more likely used in the business world. Every organization in the business fields should have the code of ethics, which defines how an organization
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If my grandmother asks me what is your ethics, I will answer – ethics is what my feelings tell me is right or wrong. But if I have a serious conversation with a police officer I will answer – Ethics is what the law requires. Or if I am in church I will answer – ethics is my religious beliefs. As I said in my opening sentences, ethics can be defined in many ways. It depends on many circumstances, who are you as a person, who are you talking to or what environment are you in. From my point of view, ethics is what my feelings tells me is right or wrong. My family is very important to me and I grew up by this principle. Obviously, I cannot rely on my feelings all the time when I have to make important decisions but listening to your feelings is the right decision in life most of the times.
Importance of ethics in business
When we talk about ethics in business, code of ethics is very important. Code of Ethics sets up behavioral standards for organizations, which help maintain ethical behavior. In developed countries there are governance systems and this system makes it easy to keep ethical behavior in the business field when you get to deal with other firms. In developed
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Developing code of ethics can be a useful way to improve ethical behavior, it clarifies company’s expectations and it makes clear what a company expects of its employees. Morality and laws are also very important to keep ethical behavior. There are three basic approaches for ethical behavior in business fields; the utilitarian, the individual right and justice approach. These approaches are very important for a firm to make decisions. In my opinion, TOMS Shoes Company is a very good example for good ethical behavior in business. The American company is a not-for-profit organization; they donate to children in need one new pair of shoes for every pair of shoes sold. This strategy is very profitable for everyone and made a reputation for TOMS Shoes. Blake Mycoskie the founder of the company learned that walking in barefoot could cause serious diseases and his attention turned to help children without shoes. In my opinion, this is a very good example of selflessness and good ethical behavior in business. The repercussions for this business strategy raised a strong profile for the company and millions of children were shoes thanks to TOMS Shoes Company. I think raising a companies name by acting ethical is the best way to improve your business and your own values. TOMS now has a repetitive name and its brand recognition is very highly

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