Ethical Principles for Business. Whether you work for a small business or a major corporation, ethical principles matters. The most recent lesson on the importance of business ethics came with the Wall Street collapse, as once highly esteemed financial institutions made headlines for their bad choices and questionable behavior. While businesses have to meet economic expectations, they also have ethical responsibilities. Everyone, from the bottom to the top of the organizational chart, must take care to meet these responsibilities.

1. Principles of Business Ethics

2. • Ethics- is a set of moral principles of value,
and the set may be general or professional
• Appropriate personal behavior- is imposed
by society, and moral duties and
individuals are guided by general ethics.
• Professional ethics- practice of ethics
above the requirements of the law
selected by professionals.

3. It is worthwhile to repeat that these set
of moral Principles or value systems have
their foundations in the ethics environment.
• The classical philosophies
• The religious beliefs
• Value systems of countries, including the
Philippines.

4. There are indicators that the ‘small
number’ of enterprises that are mindful of
societal interest may be on the uptrend, as
technology and customer watch groups
directed business toward ethical practices.
The cost of the ethical and moral solutions is
an expected deterrent.
• There are socially desirable and ethical
practices that, may not entail additional
cost/money, such as:

5. • Serving an honest day’s work among the
employees.
• Volunteering in waste management
promotion like recycling and prevention of
the environment
• Rejecting business products, television
stations and other media that promote
objectionable shows
• Uprightness or truth in advertising

6. • Production and delivery of organically
grown fruits and vegetables and other
food products; and
• Preparation of and obedience to the
business code ethics.

7. These are evidence by their compliance
to government rules and regulation,
including policies and laws set by
international ethics.
• Suki- practice often as weighty as the
Professional accreditation system set by an
organization’s code of ethics .

8. • Organization’s code of ethics- is a formal
document that states an organization’s
primary values.
Reminded that an enterprise also has
its responsibility to its:
• Investors and owner, for fair returns on
their investment
• Customers, for safe products;
• Suppliers for fair deals;
• Employees, for decent wages.