Principles of Management

1.  Define business ethics.

2.  What specific items should be included in an organization’s ethics program?

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3.  Explain why these specific items should be included in the ethics program and how they ensure the organization is “doing the right thing”?

4.  Please use class material to support your answer.
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Richard:

Ethics is described as the moral principle that governs a persons behavior or how an activity is conducted.  This can also be described as what guides a person to take the right course of action when completeing tasks.  Business ethics in particular are described as the application of general ethical ideas to the business practices.  Some of the important aspects of a business ethics program include policies, procedures, and codes of conduct that employees and shareholders must abide by.  These specific items create a business that clear commitment to ethical conduct that can be viewed by all potential clients.  Building and sustaining customer trust, improved employee retention, talent attraction,  positive work environment, smoother operations, and the prevention of legal issues are all ways in which a defined ethical conduct policy can help an organization ensure continued success.  Businesses that incoorporate a specific ethical conduct plan consistently outperform those in which fail to establish this type of plan.

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