Define ethic and give an example of ethical principle
Ethic is the study of what is good and evil, right or wrong, and just and unjust. Business ethics, therefore, is the study of good and evil, right or wrong, and just and unjust in organizations. The business ethics is one tend of attention in the organizations. In America and industrialized countries tend to incorporate the ethic in normal activities and all levels in the organizations. The importance of incorporate ethics in workforce can bring us a competitive advantage, with the clients target and the community in general. Now the managers are including ethic’s practices and training in their workforce. Because the lack ethic can help to increase critics against the organization, the top managers should increase their attention in this subject.
A professional organization and its members are granted the legal right by society to organize itself, to control entrance into the profession and to formulate standards of behaviour governing its members. A principle of business ethic is a guideline or rule which is applied when you are faced with an ethical dilemma, will assist you in making an ethical decision. Examples of principles which have been articulated and discussed by business philosophers and ethicists include the utilitarian principle, the justice principle and the rights principle.
Golden Rule. Do unto others as you would have them do unto you.
Hedonistic Ethic. If it feels good, do it.
Disclosure Rule. If you are comfortable with an action or decision after asking yourself whether you would mind if all your associates, friends, and family where aware of it, then you should act or decide.
The Disclosure Rule, which could be seen as complementary to the Golden Rule (do unto others as you would have them do unto you), moves the focus of attention to how others whose opinions you respect would regard your decision, action or behavior. According to the Disclosure Rule, you are probably on a sound ethical footing if you are still comfortable with a proposed action or decision after asking yourself whether you would mind if all your associates, friends, and family were aware of it. The concept of public exposure is powerful tool; and, though it does not provide ironclad assurance that you are acting ethically, it does provide some strong indication of how the action is likely to be viewed.
Intuition Ethic. You do what you “gut feeling” tells you to do.
Means-Ends Ethic. If the end justifies the means, then you should act.
There are a number of useful ethical principles around should managers wish to use them. The three principles which are ranked highest are quite straightforward and easily understood – treat others as you want to be treated, do only what you would feel comfortable with if those whom you care most about knew it, and follow your intuition. However, the modern concern for principles of ethical decision making that are neatly wrapped in a ready-to-use package cannot really be met.
Business ethics is more than a list of do's and don'ts, but these principles can help us get off to a good start.