Each person should live with moral standards. To distinguish between the right and wrong is based on the person’s ethics. It describes what kind of values and beliefs does the person has. In business, it composed of standard ethics that serves as a guideline among employees about their expectation to the company. Newell S. stated that ethics in business focuses on identifying the moral standards of right and wrong as they apply to behaviour within and across business institutions and other related organizations.
The goal of business is to gain profit but, the fair practices they implement internally and externally matters because the values they represents reflects the ethics of the company. Rajeeve stated that the lack of business ethics in the market is the reason the world economy is presently in crisis. Unethical practices such as dishonesty, lack of transparency, creating false documents, and sexual discrimination are activities that are not fair.
A Quick Ethics Test from Dayton Fandray of Raytheon Company was chosen to distinguish the ethical values of the person when faced in dilemmas. It includes the information about legalities, the affected person of such case, fitting of right values, the appearance in newspaper, its reflection on the company, the choice of being right and the feeling towards the result (Salopek J., 2001). Through this test, the company can assess the capabilities of their employees in terms of ethical thinking. A concrete briefing about the company’s ethics is needed as a recommendation after the assessment. This test is valid to develop the employee’s ability in decision making against the company’s policy and procedures, regulations, values and self-
The effects of ethics in Business perspective.
When an employee turns to a gray decision situation, reflecting through this test is essentially help before proceeding.
Myths of Business Ethics
Ketz, E. (2003) stated that many
References: Chen E. Main Principles of Business Ethics. Retrieved from http://ezinearticles.com/?Main-Principles-of-Business-Ethics&id=4502579 Ketz, E. (2003) The Accounting Cycle: Myths about Ethics. Retrieved from http://accounting.smartpros.com/x38366.xml Newell S. Business Ethics Q finance. Retrieved from http://www.qfinance.com/contentFiles/QF02/g1xtn5q6/12/2/business-ethics.pdf Rajeev L. Ethical and Unethical Business Practices. Retrieved from http://www.buzzle.com/articles/ethical-and-unethical-business-practices.html Salopek J., (July 2001) Right Thing - business ethics. Retrieved from http://findarticles.com/p/articles/mi_m4467/is_7_55/ai_77713888/pg_3/?tag=content;col1