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Business Practices
Business ethics (also known as Corporate Ethics) is a form of applied ethics or professional ethics, that examines ethical principles and moral or ethical problems that can arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. These ethics originate from individuals, organizational statements or the legal system. These norms, values, ethical, and unethical practices are the principles that guide a business. Business ethics refers to contemporary organizational standards, principles, sets of values and norms that govern the actions and behavior of an individual in the business organization. Business ethics have two dimensions, normative business ethics or descriptive business ethics. As a corporate practice and a career specialization, the field is primarily normative. Academics attempting to understand business behavior employ descriptive methods. The range and quantity of business eth ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Applied Ethics
Applied ethics refers to the practical aspect of moral considerations. It is ethics with respect to real-world actions and their moral considerations in the areas of private and public life, the professions, health, technology, law, and leadership. For example, the bioethics community is concerned with identifying the correct approach to moral issues in the life sciences, such as euthanasia, the allocation of scarce health resources, or the use of human embryos in research. Environmental ethics is concerned with ecological issues such as the responsibility of government and corporations to clean up pollution. Business ethics includes questions regarding the duties or duty of 'whistleblowers' to the general public or their loyalty to their employers. History Applied ethics has expanded the study of ethics beyond the realms of academic philosophical discourse. The field of applied ethics, as it appears today, emerged from debate surrounding rapid medical and technological advan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiduciary Responsibility
A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other assets for another person. One party, for example, a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to another party, who, for example, has entrusted funds to the fiduciary for safekeeping or investment. Likewise, financial advisers, financial planners, and asset managers, including managers of pension plans, endowments, and other tax-exempt assets, are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice, or protection is sought in some matter... In such a relation, good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trust ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiduciary
A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other assets for another person. One party, for example, a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to another party, who, for example, has entrusted funds to the fiduciary for safekeeping or investment. Likewise, financial advisers, financial planners, and asset managers, including managers of pension plans, endowments, and other tax-exempt assets, are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice, or protection is sought in some matter... In such a relation, good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trust ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stakeholder Theory
The stakeholder theory is a theory of organizational management and business ethics that accounts for multiple constituencies impacted by business entities like employees, suppliers, local communities, creditors, and others. It addresses morals and values in managing an organization, such as those related to corporate social responsibility, market economy, and social contract theory. The stakeholder view of strategy integrates a resource-based view and a market-based view, and adds a socio-political level. One common version of stakeholder theory seeks to define the specific stakeholders of a company (the normative theory of stakeholder ''identification'') and then examine the conditions under which managers treat these parties as stakeholders (the descriptive theory of stakeholder ''salience''). In fields such as law, management, and human resources, stakeholder theory succeeded in challenging the usual analysis frameworks, by suggesting that stakeholders' needs should be pu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free Speech
Freedom of speech is a principle that supports the freedom of an individual or a community to articulate their opinions and ideas without fear of retaliation, censorship, or legal sanction. The rights, right to freedom of expression has been recognised as a Human rights, human right in the Universal Declaration of Human Rights and international human rights law by the United Nations. Many countries have constitutional law that protects free speech. Terms like ''free speech'', ''freedom of speech,'' and ''freedom of expression'' are used interchangeably in political discourse. However, in a legal sense, the freedom of expression includes any activity of seeking, receiving, and imparting information or ideas, regardless of the medium used. Article 19 of the UDHR states that "everyone shall have the right to hold opinions without interference" and "everyone shall have the right to freedom of expression; this right shall include freedom to seek, receive, and impart information an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Social Responsibility
Corporate social responsibility (CSR) is a form of international private business self-regulation which aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in or supporting volunteering or ethically oriented practices. While once it was possible to describe CSR as an internal organizational policy or a corporate ethic strategy, that time has passed as various national and international laws have been developed. Various organizations have used their authority to push it beyond individual or even industry-wide initiatives. In contrast, it has been considered a form of corporate self-regulation for some time, over the last decade or so it has moved considerably from voluntary decisions at the level of individual organizations to mandatory schemes at regional, national, and international levels. Moreover, scholars and firms are using the term "creating shared value", an extension of corporate social responsibility, to explain ways of d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Primum Non Nocere
' () is a Latin phrase that means "first, do no harm". The phrase is sometimes recorded as '. Non-maleficence, which is derived from the maxim, is one of the principal precepts of bioethics that all students in healthcare are taught in school and is a fundamental principle throughout the world. Another way to state it is that, "given an existing problem, it may be better not to do something, or even to do nothing, than to risk causing more harm than good." It reminds healthcare personnel to consider the possible harm that any intervention might do. It is invoked when debating the use of an intervention that carries an obvious risk of harm but a less certain chance of benefit. Non-maleficence is often contrasted with its corollary, beneficence. Origin The origin of the phrase is uncertain. Some early versions of the Hippocratic Oath include the promise "to abstain from doing harm" ( el, ἐπὶ δηλήσει δὲ καὶ ἀδικίῃ εἴρξειν) but do not include t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pragmatic Ethics
Pragmatic ethics is a theory of normative philosophical ethics and meta-ethics. Ethical pragmatists such as John Dewey believe that some societies have progressed morally in much the way they have attained progress in science. Scientists can pursue inquiry into the truth of a hypothesis and accept the hypothesis, in the sense that they act as though the hypothesis were true; nonetheless, they think that future generations can advance science, and thus future generations can refine or replace (at least some of) their accepted hypotheses. Similarly, ethical pragmatists think that norms, principles, and moral criteria are likely to be improved as a result of inquiry. Martin Benjamin used Neurath's boat as an analogy for pragmatic ethics, likening the gradual change of ethical norms to the reconstruction of a ship at sea by its sailors. Contrast with other normative theories Much as it is appropriate for scientists to act as though a hypothesis were true despite expecting future in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Utilitarian
In ethical philosophy, utilitarianism is a family of normative ethical theories that prescribe actions that maximize happiness and well-being for all affected individuals. Although different varieties of utilitarianism admit different characterizations, the basic idea behind all of them is, in some sense, to maximize utility, which is often defined in terms of well-being or related concepts. For instance, Jeremy Bentham, the founder of utilitarianism, described ''utility'' as: That property in any object, whereby it tends to produce benefit, advantage, pleasure, good, or happiness ... rto prevent the happening of mischief, pain, evil, or unhappiness to the party whose interest is considered. Utilitarianism is a version of consequentialism, which states that the consequences of any action are the only standard of right and wrong. Unlike other forms of consequentialism, such as egoism and altruism, utilitarianism considers the interests of all sentient beings equally. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consequentialist
In ethical philosophy, consequentialism is a class of normative ethics, normative, Teleology, teleological ethical theories that holds that the wikt:consequence, consequences of one's Action (philosophy), conduct are the ultimate basis for judgment about the Morality, rightness or wrongness of that conduct. Thus, from a consequentialist standpoint, a morally right act (or omission from acting) is one that will produce a good outcome. Consequentialism, along with eudaimonism, falls under the broader category of teleological ethics, a group of views which claim that the moral value of any act consists in its tendency to produce things of Intrinsic value (ethics), intrinsic value.Teleological Ethics " ''Encyclopedia of Philosophy''. via ''Encyclopedia.com.'' 28 May 2020. Retrieved 2 J ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Economist
''The Economist'' is a British weekly newspaper printed in demitab format and published digitally. It focuses on current affairs, international business, politics, technology, and culture. Based in London, the newspaper is owned by The Economist Group, with its core editorial offices in the United States, as well as across major cities in continental Europe, Asia, and the Middle East. In 2019, its average global print circulation was over 909,476; this, combined with its digital presence, runs to over 1.6 million. Across its social media platforms, it reaches an audience of 35 million, as of 2016. The newspaper has a prominent focus on data journalism and interpretive analysis over original reporting, to both criticism and acclaim. Founded in 1843, ''The Economist'' was first circulated by Scottish economist James Wilson to muster support for abolishing the British Corn Laws (1815–1846), a system of import tariffs. Over time, the newspaper's coverage expanded further into ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Friedman Doctrine
The Friedman doctrine, also called shareholder theory is a normative theory of business ethics advanced by economist Milton Friedman which holds that the social responsibility of business is to increase its profits. This shareholder primacy approach views shareholders as the economic engine of the organization and the only group to which the firm is socially responsible. As such, the goal of the firm is to increase its profits and maximize returns to shareholders. Friedman argues that the shareholders can then decide for themselves what social initiatives to take part in, rather than have an executive whom the shareholders appointed explicitly for business purposes decide such matters for them. The Friedman doctrine has been very influential in the corporate world from the 1980s to the 2000s, but has attracted criticism, particularly since the financial crisis of 2007–2008 (caused by various financial institutions which engaged in excessive risk for profit maximization, causing th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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