Professional Documents
Culture Documents
Module One
Module One
8)Accountability
A good code of ethics is built on the
following foundations:
1)Compliance with internal policies and procedures
2)Compliance with external laws and regulations
3)Direction from organisational values
4)Direction from individual values
Definition of Ethics
Concise Oxford Dictionary: Ethics is relating to morals;
treating of moral questions; morally correct; honourable.
R. Wayne Mondy: Ethics is the discipline dealing with
what is good and bad, or right or wrong, or with moral
duty and obligation.
Objectives of Ethics
The objectives of ethics include:
1)Primary objectives-The primary objective is to define
the highest good of man and to set a standard for the
same. This can be used to deal with several
interrelated and complex problems which may be
psychological, legal, commercial, philosophical,
sociological or political in nature.
2)Other objectives-The other objectives are:
i. Studying human behaviour
ii.
iii.
iv.
v.
Business Ethics
Business ethics are moral principles that
define right and wrong behaviour in the world of
business. What constitutes right and wrong behaviour in
business is determined by the public interest groups,
business organisations as well as an individuals personal
morals and values. In short, business ethics is the study of
business situations, activities and decisions where issues
of right and wrong are addressed and involves the
application of general ethical rules to business behaviour.