Question

1. Discuss the importance of principles and core values to ethical decision making.
2. Discuss the influence of corporate culture on business ethics.

Answer 1

The importance of principles and core values to ethical decision making is explained below:

1. In general a principles and core value are fairness, trustworthy, respect and responsibility, these principles and core values help to develop and recognize the best possible solution for any problem.

2. It also helps to be centered and confidently approach towards any problem without any concerns.

3. When principles are followed and when the ethical decision making are made then the organization may feel safe and secured and not act anything against law.

4. It forms a pattern of ethics which will in turn become the culture of the organization to make ethical decisions.

The influence of corporate culture on business ethics is explained below:

1. Organization culture can be defined as a set of values and believes which people follow in an organization. Business Ethics typically means a set of business policies and practices followed by the employees in the organization.

2. A culture of any organization can either make or break business ethics which means if an organization follows values as a culture it will automatically followed by employees while doing business.

3. Following Company’s code of conduct is must for any employee and as culture if the organization has good code of conduct then it can be seen in the business process too.

4. When an organization has a reputation of being ethical as a culture the employee would not dare to go against it in order to save the organization reputations.