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Most of the organizations have defined formal corporate ethics because most of the decisions of organizations are influenced by ethical issues. The employees feel very comfortable when a predefined corporate ethical is present in the organization because they get a clear understanding of what is right and what is wrong.
The compliance of employees to corporate ethics is usually ensured by organizations by setting a formal corporate ethics program. Organizations have developed different programs and procedures to enhance the compliance to corporate ethics. For example, at TEPCO, there is a Corporate Ethics Committee consisting of top management, which work closely with ethical lines and establish corporate ethics carefully.1
The diagram (Appendix I) shows that once the corporate ethical conduct is formulated at top management level of TEPCO, it is promoted through incorporating the norms into culture and by revising the regulations and manuals. Moreover, through formal training programs and continuous monitoring, the compliance to corporate ethics is ensured. In this way, formal regulations and cultural norms strengthen the values, thereby, ensuring corporate ethical norms at TEPCO.
There are some ethical guidelines, which are defined to develop corporate ethics programs. The ethical guidelines are the guidelines that are established to oversee what is suitable within the quest of specific objectives such as guidelines published by BPS (ITS, 2009). The ethical guidelines of companies usually differ and tend to be more specific. For example, American Mathematical Society has defined few ethical guidelines, which can be categorized into four sections including ethical guidelines related to mathematical research and its presentation, social responsibility of mathematicians, education and granting of degrees and ethical
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According to the task, these ethics can be explained in many different theories of ethics that include virtue ethics, rationality, utilitarianism, communitarianism, social ethics and normative ethics. Hence, international business ethics and corporate governance can be explained in various ways (Casson 95).
Business ethics are rules as well as standards which an organization is required to follow while performing its activities or operations. It mainly consists of moral standards which vary among organizations and it also helps in determining the right and the wrong decisions.
For example, according to the limited knowledge of the researcher, Magna Carta of 1215 was the first legal reference for ethics in UK (Holme, 2008). However, magnitude of importance for ethical perspective of business operation has been increased manifold in recent years after the financial scams by corporate such as Enron, Lehman Brothers, Worldcom, Nortel and many others came to the light.
Business ethics theories are often adopted by organisations seeking to curb practices that are deemed as corrupt. They usually have moral principles that organisations can implement to make sure that all the workers operating in the company conform to accepted codes of behaviour
Examples of ethical issues concerning three different issues have been explained along with their alleged law suits that have flagged these issues in the United States.
Business ethics are the moral eternal, abstract, and the
To some, the suggestion that an orderly and analytical process of decision making, not only on a personal level – but more so in business, should include the discussion of highly controversial ethical issues, about which
The other group of business people takes it as avoiding activities that portray bad image of the company. If the above are not considered as business ethics the business institutions may suffer loss or may earn the business bad reputation.Business people believe that if good business ethics are adhered to then the business will experience an upward trend with a lot of profit.
A similarity between ethics in the United States and ethics in Asia is that they address a variety of similar factors such as pollution, corruption, fraud and contracts among others. Although approaches to dealing with
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