Business ethics (also known as corporate ethics) is a form of applied ethics or professional ethics, that examinesethical principles and moral or ethical problems that can arise in a business environment.

The ethical principles that nurses must adhere to are the principles of justice,beneficence, non maleficence, accountability, fidelity, autonomy, and veracity.Justice is fairness.

ETHICS IN ORGANISATION

Organizational ethics express the values of an organization to its employees and/or other entities irrespective of governmental and/or regulatory laws. Ethics are the principles and values used by an individual to govern his or her actions and decisions.

Characteristics of Ethical Organization:

Highly ethical organizations exhibit a number of key characteristics, starting with the head of the organization and filtering down to the lowest-paid workers.

• Honesty. An ethical workplace exhibits the characteristic of honesty. ...
• Integrity. ...
• Accountability. ...
• Management Focus.

IMPORTANCE OF ETHICAL ORGANIZATION:

Why is ethics important to business? Ethics concern an individual's moraljudgements about right and wrong. Decisions taken within an organisation may be made by individuals or groups, but whoever makes them will be influenced by the culture of the company.

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2. ORGANISATIONAL ETHICS:
3. 1. Organizational/Business Ethics By Charles D. Little, Ph.D. The Integrity Based Strategy
4. 2. Organizational/Business Ethics A Crisis!
5. 3. Organizational/Business Ethics What is it? If ethics deals with the choices (the morality of right vs wrong) that individuals make in their personal and professional lives, then….. Organizational business ethics is the application of these morality related choices as influenced and guided by values, standards, rules, principles, and strategies associated with organizational activities and business situations. “Business ethics deals with choices about what laws should be and whether to follow them, about economics and social issues outside the law, and about the priority of self-interests over the company’s interests.” Laura Nash, Ph.D. Harvard University.
6. 4. Organizational/Business Ethics Why is it important? Ethics influence and contribute to: Employee commitment. Investor and customer loyalty and confidence. Legal problems and penalties. Customer satisfaction. The ability to build relationships with stakeholders. Cost control. Performance, revenue, and profits. Reputation and image. “One of an organization’s most prized assets is its reputation.” S. Waddock, Ph.D.
7. 5. Organizational/Business Ethics The “Ethical Dilemma” Individual morality and integrity. Daily choices by every organizational participant. The use of power and authority. Interpretations of rules and standards from one individual to the next. Anything from inconsequential to organizationally and socially significant scenarios. Social influences. Plus…….. Character. Attitudes. Personal Values. Judgment. Opportunities. The use of information. Ambiguous guidelines. The ‘ethical dilemma’ involves all associates in an organization and a multitude of issues:
8. 6. Organizational/Business Ethics The “Ethical Dilemma” (continued) Plus! 1. Laws don’t cover everything. 2. Free market and regulated market mechanisms don’t describe how to respond to complex issues that have far reaching ethical consequences. 3. Complex problems often require an intuitive or learned understanding and concern for fairness, justice, due process to people, groups, and communities. 4. Consequences. “To companies and employers, acting legally and ethically means saving billions of dollars each year in lawsuits, settlements, and theft.” David Callahan, Ph.D.
9. 7. Organizational/Business Ethics Thus, two things become apparent: 1. Organizational/business ethics are the responsibility of organizational leadership; and 2. The challenge of leaders to create an ethical organization is….difficult! “Leaders play THE key role in developing the ethical organization as they confront balancing operational and profit goals with corporate moral obligations to internal and external stakeholders”. Ethics starts at the top! Teresa Yancey Crane Issue Management Council
10. 8. Organizational/Business Ethics Key Questions for Leaders as they build the ethical organization: What are my core values and beliefs? What are the core values and beliefs of the organization? Whose values, beliefs and interests are impacted by my actions and decisions? Who will be harmed or helped by my actions and decisions and those of my organization? How will my core values and those of my organization be affected or changed by my actions or decisions? How will I and my organization be affected by my actions and decisions? Do my actions and decisions represent a consistent set of values? From this, how will I approach the creation of an ethical organization? “The ethics of the organization reflect the ethics and skills of leaders.” Lee Hartman, Ph.D. Ethics starts at the top!