Business ethics

Business ethics and code of ethics for Organization Decision Making

The Chambers Dictionary defines Ethics: 'A code of behavior considered correct'. Business ethics is a well-institutionalized academic field, which deals with the moral dimension of business activity. In the context of international business, it means the treating of moral questions of international cultures and countries. International business should be sensitive to the environment and not just selfish for its own profits. Ethically, safety comes first and the profit comes last. The various issues that ethics target are diverse - environmental concerns, animal welfare issues, labor practices, fair trade, health concerns, genetic modification, patenting of genes, cloning etc.International business is both more exposed to a variety of ethical conditions as well as in a position to exploit business ethics due to the sheer size an international company has. The end result of an ethical judgment entails its authenticity from being morally correct. But moral correction itself is a relative concept and is based upon the cultural perceptions as well as traditions. The international market and business arena can be ethically segmented into the 'die hard', the 'don't cares', and the various groups in between. Companies all around the world are coming under scrutiny from governments, shareholders, customers, trade unions, human-rights groups, and others to prove that their activities are conducted in ethical ways.

Ethics plays very important roles in international business and appreciates the impact and importance of the majority view in maintaining an ethical business standard. It derives its contents from what the majority perceives of a thing. The countries belong to different culture and traditions, which have different perceptions about the rightness or wrongness in business practices.

The surfacing of different International Standards are all there to make sure that businesses are complying with the basic standard practices. Social Accountability 8000 makes sure that the business is being conducted on strictly ethical grounds. Ethical Statement and/or Social Audit report the ethical and social commitment of an enterprise, but it can also be certified.

The international business ethics asks for commitment to:Support and respect the protection of human rights in their sphere of influence,

Ensure that the firms do not abuse human rights,Support the freedom of association and the real acknowledgement of the right of collective bargaining, Eliminate all the forms of compulsory or forced labor

Abolish children labor

Eliminate the discriminations related to work and employment, Support a precautionary approach to ...