BBSA/DBSA 2204: BUSINESS ETHICS / BUSINESS

ETHICS PRINCIPLES

CHAPTER THREE

• Abdiladif aden jama derie

• 20/bcc/bu/r/1002
 ETHICS IN PRACTICE

ethics in practice refers to the application of ethical principles in real-world

situations, whether in personal or professional contexts. it involves making
decisions and taking actions that are in line with ethical values and principles, such
as honesty, respect, fairness, and responsibility.

in professional settings, ethics in practice can involve adhering to codes of conduct

and ethical guidelines established by professional organizations, such as the
american medical association or the american bar association. for example, a
physician who adheres to the hippocratic oath strives to act in the best interest of
their patients and uphold medical ethics.
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in personal contexts, ethics in practice can involve making moral decisions in

everyday life, such as choosing to behave honestly and with integrity, or treating
others with kindness and respect. this can include issues such as how we treat
animals, how we interact with others online, or how we manage our personal
relationships.

ultimately, ethics in practice requires individuals to reflect on their own values

and beliefs, and to make choices that align with those principles. it can be
challenging at times, as ethical dilemmas often involve complex and conflicting
values, but by consistently practicing ethical behavior, individuals can create a
positive impact in their own lives and the lives of those around them.
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 CHALLENGES OF BUSINESS ETHICS

business ethics can be challenging due to various factors, including the complexity of
modern business practices, conflicting interests of stakeholders, and the pressure to
maximize profits. some of the key challenges of business ethics are:

1. balancing profit and ethics: companies need to generate profits to sustain and grow
their businesses. however, this can create a conflict between maximizing profits and
adhering to ethical principles. businesses need to find a way to balance these
competing interests.

2. globalization: with globalization, businesses operate in different countries with varying

cultural, legal, and ethical norms. companies need to ensure that they comply with
local laws and regulations while maintaining their ethical standards.
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3. social responsibility: businesses are increasingly expected to consider their

impact on society and the environment. this includes issues such as environmental

sustainability, labor rights, and social justice. companies need to prioritize social

responsibility while balancing the interests of shareholders.

4. ethical leadership: the behavior of leaders can have a significant impact on the

ethical culture of an organization. ethical leadership involves setting a positive example,

fostering ethical behavior, and promoting a culture of integrity and accountability.

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5. whistleblowing: employees may face retaliation for reporting unethical behavior within an

organization. companies need to create a safe and supportive environment for employees to

report misconduct, without fear of retaliation.

6. stakeholder interests: companies have a responsibility to consider the interests of all

stakeholders, including employees, customers, suppliers, and the broader community. this can

be challenging when stakeholder interests conflict with each other or with the interests of

shareholders.

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navigating these challenges requires companies to establish a strong ethical culture, with

clear ethical principles and values, effective policies and procedures, and ongoing training

and communication. by prioritizing ethics, businesses can build trust with stakeholders,

mitigate risk, and create long-term value

THANK YOU