In February 2020, Wells Fargo agreed to pay $3 billion to "settle potential federal criminal and civil charges that, for more than a decade, the bank’s aggressive sales goals led to widespread consumer abuses, including millions of accounts opened without customers’ consent." For example, a code of ethics for nursing will likely address different issues than a code of ethics for engineering, but there will still be some overlap. One example of utilitarianism in business is the practice of having tiered pricing for a product or service to different types of customers. The first two are considered deontic or action-based theories of morality because they focus entirely on the actions which a person performs. What systems of ethics can you use to guide your choices in life? Integrity and honesty. Some common ethical principles include honesty, equality, respect for rights, integrity and adherence to the law. The components of our code of professional ethics: We base our business code of ethics on common principles of ethics [Note: Modify this list based on your own organization’s values]: Respect for others. As smaller businesses grow, ethical hazards and risks will increase, solidifying the need for a clear code for employees to follow. For example, the airline industry offers first class, business class and economy class seats on many of their airplanes. They often develop from your core values and work ethic into actionable goals used in a variety of challenging situations. Technology Transparency Transparency is the practice of clearly explaining how … Justice. Publishing a code of ethics and business conduct is a way of underlining the company’s commitment to ethical behavior. Ethics are a system of moral principles and a branch of philosophy which defines what is good for individuals and society. Treat people as you want to be treated. Examples of Utilitarian Ethics. Employee Handbook: Download a Complete Template & FAQ. Code of conduct and code of ethics examples. While these are all fairly standard ethical principles, their precise applications depend on the setting. At its simplest, ethics is a system of moral principles. Insubordination: What it … Personal ethics is the code of ethical guidelines that guide you in your personal and professional life. Ethics, governance and risk management tend to lag the spread of a new technology. These are examples of workplace ethics problems that cost companies or employees big-time payouts. Related Hiring Resources. Tell the truth and avoid any wrongdoing to the best of your ability. For instance, the implications and importance of ethical principles vary greatly between medical and business environments. Ethical systems can generally be broken down into three categories: deontological, teleological and virtue-based ethics.
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