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Ethical Principles in the Global Business Standards Codex

1) Discuss the eight ethical principles in the Global Business Standards Codex. Using these principles, describe an example of a company that does follow one of these principles, and then describe an example of a company that does not follow one of these principles.

2) Select three business ethics myths, and discuss why they represent a general misunderstanding about business ethics.

3) List and discuss in depth the three teleological frameworks and the three deontological frameworks. What are the advantages and disadvantages of each? Of these six frameworks, with which one do you most associate?

4) Examine the three simple tests identified by the Institute of Business Ethics. Use these tests, and discuss a decision you made dealing with ethics.

Solution Preview

1) The Business Ethics Forum identifies the eight Global Business Standards Codex as follows:
1. The Fiduciary Principle (Diligence, Loyalty).
This principle applies to loyalty to one party to another. Fiduciary trust is usually a confidence that is applied between two parties that promotes mutual interest.
2. The Property Principle (Protection, Theft).
This principle applies to real and intellectual property. It is important to protect and maintain a state of security for both real and intangible property.
3. The Reliability Principle (Contracts Premises, Commitments).
This emphasizes responsibility and stability to commitments.
4. The Transparency Principle (Truthfulness, Deception, Disclosure, Candor, Objectivity).
This promotes telling the truth, and disclosing with full candor all aspects of a company's policies and other pertinent material.
5. The Dignity Principle (Respect for the Individual, Health and Safety, Privacy and Confidentiality, Use of Force, Association & Expression, Learning & Development, Employment Security).
Having respect for employees and their ideas through policies that protect their rights, needs, and concerns.
6. The Fairness Principle (Fair Dealing, Fair Treatment, Fair Competition, Fair Process).
Showing impartiality in all dealings private and public.
7. The Citizenship Principle (Law & Regulation, Public Goods, Cooperation with Authorities, Political Noninvolvement, Civic Contribution).
This encompasses being a ...

Solution Summary

This solution is a 1271 word document that discusses the eight ethical principles in the Global Business Standards Codex. It uses these principles to example a company that follows one of these principles, and then describes an example of a company that does not follow one of these principles. The solution includes 6 references.

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