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Essay On The Value Of Business Ethics

1050 Words5 Pages

According to the Universal Declaration of Human Rights, whatever race, culture, religion and nationality, all men on earth are born free, equal and possess all forms of right covering economic, social, cultural, civil and political aspects. Every individual has the responsibility to respect the rights of others. It demonstrates the universal values shared by all human beings: civilization, consideration, honesty, fairness, solidarity, openness, acceptance, recognition, relationship, compassion. [1] To maintain international peace, these values are recognized and expressed by law to guide us how to exercise our rights without invading or taking away the rights of others, promoting a concrete practice to protect human rights in a manner of reciprocity, equality and mutual respect.

Law reflects ethics, it functions through juridical authority and sanction on improper behaviors. It is essential in business. With law enforced, business sets aspirational behavioral standard expected by companies, organizations and the society to measure against error, crimes, unethical conduct and wrongdoings.

In daily business operations when dealing with contract, law facilitates trade and protects companies and individuals by addressing certainty on provisions, …show more content…

The principles may be threatened by a broad range of circumstances but it helps employees to identify, evaluate and respond to any potential ethical problems. Companies that display a firm commitment to ethics in every area of business often acquire more ethical and responsible employees in the industry. The culture helps ensure compliance to law and regulation, and by fostering management system of resilience and openness, employees are encouraged to report on error and wrongdoings to interrupt any downward spiral at the first sign of ethics or legal

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