This research paper looks into the types of ethics and the importance of ethics. Ethics is a system of moral principles. It affects how people make decisions and live their lives. Subsequently, ethics looks into what is good for individuals and society hence it is a moral philosophy. Also, ethics covers dilemmas in like rights and responsibilities, how to live life, moral decisions especially deciding what is good and what is bad. Ethics also teach people the language of right and wrong. The concepts of ethics, therefore, infuse debates on topics like professional conduct, human rights, and abortion.
types of ethics and importance of ethics
TYPES OF ETHICS IN BUSINESS
There are three major types of ethics in business. These are personal ethics, professional ethics, and corporate responsibility. Personal ethics refers to the personal beliefs of an individual in business. It not only involves beliefs in matters like honesty and obedience but also the willingness to perform duties in the business. Professional ethics involves the loyalty of employees towards the business. Besides acquiring their rights and responsibilities, employees seek to help the business work hard and achieve its objectives. Corporate responsibility involves the moral codes of managers who run the business. This, therefore, displays the importance of ethics for the effective operation of business activities.
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THE IMPORTANCE OF ETHICS IN ORGANIZATIONS
The importance of ethics in an organization is as follows. First, it builds a positive corporate culture. This is because it improves the employees’ morale to work hence they feel protected against retaliation for personal beliefs. This, therefore, helps them achieve their rights and responsibilities at work. Second, it boosts consumer confidence through fair and honest advertising methods. Organizations should, therefore, train employees on how to treat customers to boost their confidence in the products and services. Third, it reduces financial liabilities since ethical responsibility and the types of ethics in the business sway public opinion away. Lastly, it minimizes potential lawsuits as a result of appropriately dealing with accusations and harassment claims.
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