THE CHALLENGES OF BUSINESS ETHICS: THE BASIC PRINCIPLES OF BUSINESS ETHICS - ETHICAL CODEX IN BUSINESS

Abstract

Past several decades management has become a vital concern to society. If we look at pools, we notice that the public does not have good opinion about management ethics and business. For the management community to turn this situation around, significant efforts are required. It should be understood what management ethics means, why it is important and how it should be integrated into decision making. Principles of ethics from moral philosophy and management theory are available to inform interested managers. Further requires that managers understand, and be sensitive to, all the stakeholders of the organization and their stakes. If the moral management model is to be achieved, managers need to integrate ethical wisdom with their managerial wisdom and to take steps to create and sustain an ethical climate in their organizations. When all that will be done, the desirable goals of moral management will be achievable.

Keywords

• Business ethics; Responsibility; Management ethics
• ; Moral anagement; Organization’s ethical climate