What can be the consequences for not following ethical standards?

Unethical behaviour has serious consequences for both individuals and organizations. You can lose your job and reputation, organizations can lose their credibility, general morale and productivity can decline, or the behaviour can result in significant fines and/or financial loss.

What are the types of ethical standards?

The five main principles of ethics are usually considered to be:

  • Truthfulness and confidentiality.
  • Autonomy and informed consent.
  • Beneficence.
  • Nonmaleficence.
  • Justice.

How do you promote ethics?

Fostering Ethical Decisions

  1. Act ethically and be seen to act ethically.
  2. Be active in the ethics program. For example, introduce the ethics training or be the person to speak.
  3. Encourage employees to raise issues.
  4. Address ethics issues.
  5. Enforce the ethics program, such as by punishing violators.

Is every action that is legal also ethical?

Ethical behaviour is not always best defined within the confines of the law. Ethics and the law are not identical. Typically, the law tells us what we are prohibited from doing and what we are required to do. It is said that the law sets minimum standards of behaviour while ethics sets maximum standards….

What is the difference between ethical and legal standards?

Legal standards are based on written law, while ethical standards are based on human rights and wrongs. Something can be legal but not ethical. Legal standards are written by government officials, while ethical standards are written by societal norms….

What are some examples of ethical behavior?

Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. Those who have others’ interests in mind when they make decisions are displaying ethical behavior. In the workplace, there might be a standard for ethics set throughout the company.

How do you maintain ethical standards?

Maintaining Ethical Standards

  1. Adhere to a concept of selling that respects consumers.
  2. Add value to the mutual benefit of both your company and the customer.
  3. Under no circumstances misrepresent product to customers.
  4. Never take actions that are detrimental to a customer’s well-being.
  5. Offer maximum customer value at the lowest reasonable cost.

What is something illegal but ethical?

Behaviors that are illegal but are thought by many to be ethical include jaywalking, mixing food and paper waste, cheating taxes, spitting inside a city and driving over the speed limit.

What are the ethical requirements?

Relevant ethical requirements are derived from five fundamental principles of ethics:

  • integrity,
  • objectivity,
  • professional competence and due care,
  • confidentiality,
  • professional behaviour.