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Business ethics

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In the field of moral philosophy , ethics occupies one of the most important places. This science is devoted entirely to the study of the way in which the human being is behaving based concepts related to right and wrong, what is good and bad, with the virtues and happiness. There are several types of ethics, one of them is known as business ethics .

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What is business ethics?

Le business ethics is a doctrine that includes a series of human values important and principles that should govern a company when it performs its actions and its various activities, so it is considered a part important of these organizations.

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  • Definition of business ethics
  • History
  • What is it for
  • Characteristics of business ethics
  • Types
  • Advantage
  • Disadvantages
  • How it differs from social responsibility
  • Importance
  • Examples of business ethics

Definition of business ethics

Business ethics is seen as one of the most important parts that must exist within a company. They are a series of principles based on ethics that must be present in any business so that it can be made to work properly reaching the same time , a commitment type social . It is the study that is based on the way in which a company must act in the face of different ethical and controversial situations that may arise within the workplace.

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It is actually a very broad field and can be analyzed from different points of view, mainly the legal field , since it plays a fundamental role in the influence that is generated in professional ethics.

History

Business ethics was born in 1970 as a part of business academic study. It was debated from a philosophical point of view and was also measured empirically . With the passage of time, it was improving and gaining more strength among companies so that governments managed to legislate the ideas that governed ethics in companies, this is how the different institutions began to comply with the rules and regulations that were considered as ethical.

What is it for

Business ethics helps companies carry out their activities within the limits established by law , thus providing security for employees, clients or consumers and even their owners. It is the ideal means for companies to have the ability to generate greater confidence and to improve their brands.

Characteristics of business ethics

Among the main characteristics that can be observed in business ethics are the following:

  • It is characterized by actively promoting solidarity by promoting the interest of customers and employees.
  • It is efficient because it uses resources responsibly.
  • It is rational since it is based on logic to be able to make correct decisions.
  • It has equity because all members who work within a company must be treated in the same way.
  • It promotes human dignity as it encourages the practice of respect for others .
  • It is transparent , it does not hide any type of information and it acts correctly.
  • It seeks to continually find improvements .
  • It is considered as a type of long-term investment for an adequate subsistence of the environment.
  • Business ethics act according to human values ​​such as freedom , equality , respect , dialogue and solidarity .
  • It seeks to satisfy the needs of all the agents that are involved in the company: clients, shareholders, employees, bosses, suppliers, etc.

Types

As a field of application, business ethics can be divided into several types which are based on basic principles which are:

  • Integrity : it is the means by which trust is sought through transparency and honesty in all actions carried out to generate a positive impact on the company.
  • Respect : it must be given between employees and clients so that all the promises that are established can be fulfilled, achieving adequate compensation when some objective is not met.
  • Justice : It consists of treating clients fairly and fairly and turns out to be one of the key aspects of business ethics.
  • Caution : it is important to remember that companies are made up of human beings who consume products and those who are in charge of working to be able to produce the different goods or services. Being able to show a sense of caring and maintaining proper lines of communication are an important part of business ethics.

Advantage

There are several advantages that can be obtained through the application of business ethics, among them the following are mentioned:

  • There is greater motivation in the workers.
  • The organization or company manages to improve its image.
  • The internal functioning of the company is improved .
  • The standard of living of employees and the region where the company is located is improved .
  • Customers’ trust in the company is improved .
  • Unethical situations such as robberies and mistreatment are avoided .
  • Considerably improves ethical , social and environmental responsibility .
  • Business corruption is avoided .

Disadvantages

Among the main disadvantages of business ethics are the following:

  • Sometimes it can reduce the freedom of the company to be able to obtain maximum profits.
  • The constant improvements in the company could at some point affect the economic savings of the companies.
  • It does not completely guarantee success since, when companies do not act with total rectitude, they can be surpassed by others that do.

How it differs from social responsibility

It is important to remember that business ethics is based on the study of ethical decision – making based on business contexts , it not only includes the social obligations of the company but also includes all the obligations of employees, suppliers, customers and competitors. . On the other hand, social responsibility focuses mainly on the different social obligations that exist in a company, it is the extent to which institutions owe “something” to society or have the feeling of need to pay something back.

Importance

Applying business ethics is of utmost importance because through it it is possible to improve the image of the company , which is a very positive point if we relate it to customers. It is thanks to it that users become more confident because they are identified with the ethical values that the company professes. In addition, it is the ideal means for employees to more easily practice loyalty , when these are respected correctly and moral values predominate in the institution, workers feel more motivated to perform their functions efficiently .

Thanks to business ethics is possible to prevent the corruption take over the company and so generally the places where this type of ethics is present, are best known to the public and even among other companies helping to generate collaborations between them. It is the ideal means for both the rights and duties of workers and employees to be applied and executed with ease, promoting the establishment of standards that manage to create safe and respectful work environments .

Examples of business ethics

Some examples of business ethics are mentioned below:

  • Handling information responsibly.
  • Maintain professional secrecy.
  • Respect among co-workers.
  • Inclusion as a daily practice.
  • Ethics in company finances .

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