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The Importance Of Ethics In Business

835 Words4 Pages

Ethics and ethical standards as it relates to businesses maybe be defined in many forms. Ethics is synonymous with principles, professional competence, truthfulness and honesty. According to IFAC Code of Ethics 2006 business ethics is defined as “A distinguishing mark of the accountancy profession is its acceptance of the responsibility to act in the public interest.”
Ethics is about more than simple conformance with the law or about choosing right or wrong, good or bad, hence, the question that should be asked is, how this can apply to the business world one may ask. It is believe that the discussion of business ethics is a subjective one, for different individuals brings different notions of ethical behavior to the table. Some professions such as medicine and law undoubtedly have distinct codes of professional ethics. In other business areas appropriate behavior has been established during the course of time by experience. Decision making in …show more content…

(2006). London: CIMA

Horton, M. (2015). How important are business ethics in running a profitable business. Retrieved from:http://www.investopedia.com/ask/answers/040715/how-important-are-business-ethics-running-profitable-business.asp
Horton, M. (2016). Why are business ethics important? Retrieved from: http://www.investopedia.com/ask/answers/040815/why-are-business-ethics-important.asp
IFAC code of ethics for professional accountants. (2005). New York: International Federation of Accountants of ethics or a set of values, is to embed those values into their business and reinforce them by training
Laney, B., LaMar, D., (UNKNOWN). How to keep your employees happy and productive. Retrieved from: http://www.reliableplant.com/Read/18833/how-to-keep-your-employees-happy-productive

Taylor & Francis Group. (UNKNOWN). Emotivism. Retrieved from:

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