Business Ethics: Principles, Ethics in International Business, Application of Moral Values

Business Ethics 0
Title: Business Ethics
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Business Ethics 1
Contents
Principles of Ethics....................................................................................................................2
Ethics in International Business.................................................................................................3
Application of Moral Values......................................................................................................4
References..................................................................................................................................6

Business Ethics 2
Principles of Ethics
Business ethics are the standards and norms according to which an organization and
its employees need to conduct themselves. They should refrain themselves from indulging in
any such activity which is unethical and unlawful (Norman, 2011). Corporate Social
Responsibility, on the other hand, is about framing the policies in such a regulating manner
that the organization is held responsible socially towards its employees, society, and
stakeholders. Corporate Social Responsibility is about taking actions that are reliable and
authenticated in terms of principles and values (Trong Tuan, 2012).
The ethical values when translated into the code of conduct, direct individuals to
behave in a particular way, and to engage in ethical activities and the activities that one
should refrain from indulging, are called ethical principles (Krisnajaya, 2018). The one
ethical principle that I believe is integrity, which is essential for any individual to adapt. The
integrity of an individual reflects the way he works, the way he behaves with society and how
he makes decisions that are reliable. It has a very important role to play in the decision-
making and also increases the credibility and accountability of the employees and the
organization. Integrity is all about being disciplined and principled and standing for what is
right and doing what is right even when others want an individual to act otherwise. A person
who is virtuous does not alter his motives and neither he indulges in any fraudulent activity
nor practices anything that is unethical.
The ethical theories are also framed for the organizations and individuals to indulge in
ethical behaviour. The one theory which matches the ethical principle is the Deontology
theory, which states that individuals should follow their duties and obligations when engaged
in the activities that are ethical. A person should engage in following his duty because that is
called for to be ethically correct. The person who fulfils his duty is said to be disciplined and