Answer to this question is the same as why ethics?
is ethics subjective or objective?
Why my conscience permits is ethics: emotionalist thinking
This makes the whole concept of ethics chaotic
Ethics are based on collectivism
Is ethics contemporary or perennial?
Is ethics whole or partial?
Is ethics the same as law?
Who or What does unethical behavior offend – the law or humanity?
A possible, incomplete, practical guide to ethics in business
If there is a rule, and an exception to the rule, the idea should be to fit into the rule and not fit into the exception
If short term and long term interests clash, long term should prevail:
How long is long term – may be 5-7 years
Conduct which violates code of ethics of a self-regulatory organization is unethical
While the eventual aim should be total ethics, there is nothing wrong in progressing towards ethics in stages
Where business relations are based on long-term faith, a conduct that breaches the faith is unethical
E,g. cheating of a business partner
Laws that are founded on principles of morality and good business conduct should not be violated
If business using investors’/lenders’ money becomes unsuccessful, ethics requires minimal personal expenses and maximum effort to restore business
If a conduct is unethical, anything done to cover it is also unehtical
Warren Buffet’s rule of thumb for ethical conduct
“… I want employees to ask themselves (when they are in doubt about whether a particular conduct is ethical or not) whether they are willing to have any contemplated act appear the next day on the front page of their local paper – to be read by their spouses, children and friends – with the reporting done by an informed and critical reporter.” [Berkshire Hathaway’s code of ethics]