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This post addresses ethical principles and related issues.

1. How do you define an ethical principle?

2. Which ethical principles are most important in an individual ethical framework and which are most important in a business ethical framework? Explain your reasoning.

3. In the hospitality industry, who are the stakeholders affected by management decisions? Explain why?

4. How might an unethical decision affect a stakeholder?

Solution Preview

1. How do you define an ethical principle?

An ethical principle is basically defined as a set of morals and/or guiding principles that you use in making both personal and professional decisions. Your ethical principles will really work to define who you are both as a person and as a professional, and will also shape, based on your ethical decisions, how others see you in a professional atmosphere. Your ethical principles both have and will continue to develop over time, and it will be the set of principles you use in your future decision making. Based on your ethical principles, you will decide if certain actions that may be beneficial to your company are really for or against what you stand for.

2. Which ethical principles are most important in an individual ethical framework and which are most important in a business ethical framework? Explain your reasoning.

The two can really go hand-in-hand. You wouldn't have a poor set of ethical principles in a personal setting, and good, morally sound ethical principles in a business setting. As far as a personal setting, personal ethical principles stand for who you are, as an individual. People with sound personal ethical principles are honest, loyal to their family and friends, and always try to make the right decisions. Individual ethical frameworks that are based on good principle take into consideration the ...

Solution Summary

The solution provides a detailed explanation for each ethical principle question presented.

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