In 1994, John Elkington, an American economist and entrepreneur, proposed his concept of a triple bottom line in business. It’s very hard to come up with a win-win strategy, considering that every business action has short-, medium- and long-term consequences. #3 Financial – The vast majority of private companies are aimed at generating profit, and it’s nothing wrong with that. Good moral values support in building healthy workplace culture. Therefore, the several components need for professional ethics. Background: Professional ethics is an important branch of applied ethics that it is necessary to deal with life in a new community, accordingly set of rules and ethics must be observed in any Occupation and pay more attention to ethics. Honesty also means straightforward conduct. The code of ethics must be followed by both the members of CFA Institute and the candidates seeking the CFA designation. Environmental ethics also implies the effective and wise use of non-renewable sources of energy, reduction the production waste and making it less toxic. Codes of ethics exist in this field to help these professionals make good decisions about the manner of their professional work, according to the Association for Computing Machinery (ACM). As professional ethics in an organization, they should apply several component because they as a guidance for member in their organization. Address : No. There are three key components of corporate ethics: – Human values, which includes material benefits, the care of employees, and the creation of workplaces. – Many believe that achieving equilibrium between the three lines is almost impossible, especially when it comes to small or medium corporations. Among all, 31 participants were selected randomly. Curated Resources > Professional Ethics Overview. If you wonder how corporate ethics can benefit to your company, this article is just for you! The connection of business and ethics becomes stronger with every passing day, and it’s no surprise given the fact that modern companies are much more competitive if they stick to certain human values. #1 Social – A company should be honest with people working for it, as well as with the community and region in which the company operates, organizing the business in such a way as to interrelate the profits, good working conditions and the interests of investors. Code of conduct may include elements such as dress code and social media use, whilst our code of professional ethics refers to legally or morally charged issues. Individual Professional Obligations: 1. Professional ethics is an ancient concept that dates back to the days of Ancient Greece and the Roman Empire. The aim of study is to recognize and ranking the professional ethics components in management.Method: This study is an applied- qualitative research. Keep Things Under Control A good work environment boosts enthusiasm and productivity. Typically these include Honesty, Trustworthiness, Transparency, Accountability, Confidentiality, Objectivity, Respect, Obedience to the law, and Loyalty. Note that our code of ethics is slightly different than our code of conduct. In a few years, you’ll see how wrong you are! Business ethics is a set of moral rules in a particular sphere of human/company behavior. Information about the open-access article 'Introducing components of Professional Ethics in Organization Using Religious Principles' in DOAJ. Posted by Guest Poster on April 25, 2017, Smart tips for relocating your small business, 10 tips for an effective employee recognition program for your small business. "#$%)'* $% $&'( +% $,-+& ./ 01 $2 34! Whether ethically or unethically. All employees are expected to represent a business ethically as they are a part of it. Importance of Ethics in Professional Life - Regardless of profession or the field of work one belongs to, ethics is an important part of work. #2 Environmental – The company shouldn’t harm to the environment (or at least, minimize it) and should donate some funds for environmental protection. According to the concept, any business should be based on three fundamentals of sustainable development: social, environmental and financial. In addition to this, qualities like being punctual, staying focused, and having an inclusive 1395 #1 6%!78 #9:. Think your small business will survive without strong ethics? However, it can’t arise just like that – the formation of the entrepreneurship ethics is a rather complicated and slow process. Teaching professional ethics components from the viewpoint of students, Qom University of Medical Sciences [14] Factors affecting self-care in women with osteoporosis: A qualitative study with the content analysis approach [15] The practice of nursing research: Conduct, Police officers are expected to be respectful and honest on and off duty. (,5) 127! When it comes to customers, good work ethics means fair advertising and value for money, as well as fair treatment of investors, shareholders, and partners. Spirituality indicator has 3 component, intrapersonal (internal person) 10 component, extra personal 7 component, intra organization 12 component, and extra organization 5 component.Conclusion: Ranking of manager's professional ethics component is showing responsibility (in first order) trust in God, Trusteeship and honesty component. Thus, we can say professional ethics of managers of Co-operative Company of Sanabad development Kimya is in the desired level. The… Professionals work in a wide variety of settings and across many different industries including business, science, medicine, education, art, and public service. Work ethics play a major role for the success of organization. Professional ethics for accountants: Approaches to the development and maintenance of professional values, ethics and attitudes in accounting education programs . Some of the important components of professional ethics that professional organizations necessarily include in their code of conduct are integrity, honesty, transparency, respectfulness towards the job, confidentiality, objectivity etc. There are three key components of corporate ethics: – Human values, which includes material benefits, the care of employees, and the creation of workplaces. Professional ethics are commonly known as ethical business practices. Knowing the cornerstones of business ethics, you’ll be able to create a powerful team of professionals who will never cross the line in pursuit for short-term profits. 1.1 Basic terms- Moral, Ethics, Ethical dilemma, Emotional Intelligence, 1.2 Moral development theories of Kohlberg and Piaget 1.3 Views on ethics by Aristotle 1.4 Governing factors of an Individual‘s value system 1.5 Personal and professional ethics. Many professions have Codes of Conduct that specify ethical behavior and … First is honesty means being trustful, trustworthy, loyal, fair and sincere. – The concept of the TBL leads to a rise in the price of goods and services, and this burden falls on the shoulders of ordinary people. [amazon_link asins=’1118226224′ template=’ProductAd’ store=’succeedingi0d-20′ marketplace=’US’ link_id=’39fdc96a-8f71-11e8-a686-cf2d350879a6′]Drawbacks of triple bottom line concept. Like values, professional ethics provide rules on how a person should act towards other people and institutions in such an environment. According to some experts, following the concept can lead to the bankruptcy of enterprises and global crisis. OBJECTIVES (WHY NEED PROFESSIONAL ETHICS?) The TBL concept is not without issues, however: – The concept includes three criteria, namely social, environmental and financial, but it doesn’t take into account the factor of time. They give general outlines of how employees should behave, as well as specific guidance for handling … [amazon_link asins=’0446532290′ template=’ProductAd’ store=’succeedingi0d-20′ marketplace=’US’ link_id=’658d85b8-8f71-11e8-b439-a3b772d0dc6b’]As an entrepreneur, you should treat all business opportunities not only from the perspective of your personal benefit but also from the position of complying with moral standards and key components of corporate ethics. 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