Evaluating an essay on business code of ethics
A code of ethics ensures that, if followed, employees will work diligently, with integrity and expertise, protect confidential information and do so in a professional manner. Implementing and maintaining a code of conduct and ethics builds trust among stakeholders in a multinational financial services company. The structure, format and scope of codes vary depending on the company's activities. For example, an oil company's code would likely have different criteria and emphases than a health care provider's code of ethics. Sometimes codes of ethics are called by other names, such as an employee code of conduct. Business ethics is the branch of ethics that deals with the application of ethical principles to make right business decisions Smith, Palazzo, amp Bhattacharya, 2010. It is about distinguishing between right and wrong to make right business decisions . Business ethics enable organizations to maximize profits while minimizing them. Business ethics is a principle that guides decision-making. As a leader, you will face many challenges in the workplace due to the different interpretations of what is ethical. Situations often require navigating the “gray area,” where it is unclear what is right and wrong. When making decisions: your experiences, opinions and perspectives.