Business Ethics and Responsibility

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The code of ethics is a form of conformity in which each individual engaging in the company operation is to follow. The main objective in creating the “code of ethics” is to ensure a respectable reputation as well as a level playing field in which each individual’s role is crucial to the success and to be observed as a fair and negotiable representation in any market. Responsibilities of professional are held to high standards and complimented by given instructions as well as the compilation of policies, procedures, and protocols. To further this professional structure, companies have created such codes that can be substantiated by known professional conduct laws. Ethics refers to a branch of philosophy that deals with values of moral conduct with regard to rightness and wrongness of a certain action. The term is derived from a Greek word “ethos” meaning “character”. It is also the rule of conduct that is recognized and respected by a particular group or a society including Professional ethics such as medical ethics, religious ethics, academic ethics, and personal ethics (Howard, and Korver, 2008). This code is an essential part of both business practices and personal development and help aid in the responsibilities of one person’s function and/or a company’s survival.

Code of ethics is a set of statements adopted by an organization or an individual stating the principle and expectations that governs their behavior. It consists of 4 major sections –preamble, purpose, ethical principles and ethical standards. It provides a framework for reflection about ethical responsibility both at the individual level and at the societal level. Personal code of ethics are those principle guiding what an individual hold as good, acceptable and accords them a lot of