Core Principles of Business Ethics

1. Principle of Conscience – This principle is based on the inner-feeling of persons to analyze the sense of right and wrong. On this basis, the businessmen can determine different roles and behavior at their levels.

2. Principle of Wishless Work – This principle emphasise that there is no need to perform all the task to be self-centered or self-interest. Accordingly, we should perform all the roles and behavior of another person for their esteemed interest. We should be devoted to our efforts to do the work for others.

3. Principle of Esprit – According to this principle businessmen should give due attention to make the best possible services and try to develop the feelings of devotion and truthfulness in services. All the behavior and activities should be based on values and service motive in business.

4. Principle of Publicity – According to this principle, all the activities and performance as conducting in business houses should be well informed to every person or organization that is directly or indirectly attached to the business. It aims to remove the doubtfulness and misunderstanding among people.

5. Principle of Purity – It is most needful that every businessman should follow the politeness, truthfulness, and tolerance for developing the feelings of mental peace. At the same time, mental peace and purity also becomes the ways for politeness and tolerance, etc.

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6. Principle of Humanity – It is needful that every businessman should follow the human values, human decorum and human aspects within their policies, programs and different working areas. Ethical behavior may determine the path of humanity.

7. Principle of Universal Values – It is required that every businessman should conduct and perform the task and different business activities to be based on universal assumptions, customs and overall accepted norms and principles by society.

8. Principle of Commitment – According to this principle, every businessman should be able to fulfill their commitments and assurances as given to other persons. The implementation of commitments should be based on honesty and responsiveness.

9. Principle of Rationality – On the basis of the ethical code of conduct, every businessman should analyze and evaluate the good or bad, right or wrong, ethical or unethical aspects within their business transaction and day to day working of the business houses. They must follow the rational attitudes and behavior.

10. Principle of Communicability – According to this principle, there is a need to make effective means of communication with the internal and external persons as engaged with business houses. The communication should be in clear, open and justified manners.

11. Principle of non-Cooperation in Evils – It is needful that businessmen should try to make non-cooperation or discourage the evils, misconduct and unethical behavior not only with different customers but with the society also.

12. Principle of Cooperation with Other – Ethical norms motivates the feeling of collaboration and team spirit. It is required that on the basis of capacity and available resources, the businessmen should make full cooperation with different other persons as per their good conduct and value-based behavior.