12 Ethical Principles For Business Managers

1410 Words Oct 23rd, 2014 6 Pages
In the modern business world it is necessary for companies to be ambitious, competitive, and innovative, but without a high standard of moral and ethical practices, these companies are not guaranteed to be successful. Michael Josephson, the president and CEO of Josephson Institute has an article titled “12 Ethical Principles for Business Executives”, in which he talks about the twelve principles of ethics and how important it is to follow these principles. The article defines ethical principles as:
Ethical principles are universal standards of right and wrong prescribing the kind of behavior an ethical company or person should and should not engage in. These principles provide a guide to make decision but they also establish the criteria by which your decisions will be judged by others
The twelve principles he lists include: honesty, integrity, promise-keeping, loyalty, fairness, caring, respect for others, law abiding, commitment to excellence, leadership, reputation and morale, and finally accountability. Every week in Forbes, The Huffington Post, Business Insider, or any major news site, there are stories about CEOs or executives not following these principles and the consequential controversies they have caused. In 2012, Dan Cathy was this CEO who everyone was talking about for unethical comments he made on his views about same sex marriage.
In 1964, Founder and Chairman Emeritus S. Truett Cathy took a secret recipe for a chicken sandwich and turned it into what…
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