What is Business Ethics?

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The word “ethics” comes from the Greek word “ethos” means conduct, practices or character. Ethics deals with the implementation of concepts such as responsibility, right and wrong and moral ideals practical application of human activities. Ethical analysis discusses the limitations of moral rules and provisions and the consequences of actions. The output of such analysis, the decision on principles and protocols, development of individual and group responsibility and Verification of the implementation of this framework. Individual countries, cultures and business organizations will determine the different standards of ethical behavior. Individual organizations need to determine and develop ethical policies and the extent of such a strategy may include the following:

1. criminal behavior and the need to work within the legal framework. The strategy may include awareness training for individuals and groups so that employees understand the legal constraints on business and the responsibility this places on individuals;

2. human values ​​and personal behavior. Ethical policy needs to define the orientation and human resources level how people are expected to behave both within the company and also in their dealings with suppliers, customers and competitors and the development of business relationships

3. behavior in business. Ethical policy should address how all business activities are undertaken, monitored and verified to ensure that they comply with the legal guidelines and codes of conduct. Ethical policies should also review the potential risks of ethical business and how they can be mitigated.

So what is the ethical policy of the institution and it stand up to scrutiny?

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