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Ethical Values and Principles in Business

   

Added on  2020-01-28

6 Pages1070 Words129 Views
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Business Ethics a GlobalPerspective
Ethical Values and Principles in Business_1

TABLE OF CONTENTSQuestion 1........................................................................................................................................3Step 1) Ethical value and principles............................................................................................3Step 3) Reflection.......................................................................................................................4REFERENCES................................................................................................................................62
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QUESTION 1Step 1) Ethical value and principlesThere are different types of ethical value and principle. Each value is derived from thedifferent types of theories. Some of them are given below. Courage Moral courage refers to action which taken for reasons or adverse consequences. It refersto take actions when one has doubts or fears about the consequences. Therefore, moral courageincludes deliberation or careful thought. This value is based upon the consequentialism. In whichit stated that ethical principles makes decision should be focus on actions that are fair to thoseinvolved (Kennedy and Kray, 2014). Courage is also involved standing against evil is moreimportant than defeating it. It also involves to take all the rights decisions against the all odds. HonestyThis ethical value is related to the integrity. This ethical theory suggested that personshould have the strong moral principles and ethical standards. As per this theory, a person shouldbe honest towards their actions. Honesty should be maintained require a lot of moral courage. Inthis they also have to live ethical principles despite grate pressure to do otherwise. As per thistheory a business executive should also have to be ethical in terms of their words, actions andthought (Skela-Savič and Kiger, 2015). Individual actions is also needed to be honest asaccording to their words. FairnessThe fairness includes do not exercise power to someone other. This value is based uponthe principles of justice. It is also described as the moral obligation to act on the basis of fairadjudication between competing claims. The term fairness is also associated with respectpeople's rights and respect them morally. Fairness is also related to treat people equally. It is thebest policy which need to accept by the organization so they can treat people equally (Taylor andYang, 2015). It is also related to give fair treatment to everyone in every circumstances. 3
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