Asked by Floyd Turner on Apr 25, 2024
Verified
What are the three foundational values used to identify ethical issues and why are they important?
Foundational Values
Core beliefs and principles that form the underpinning for organizational culture, decision-making, and strategies.
Identify
To establish the identity of someone or something, recognizing them as distinct or unique.
- Identify the moral aspects of business choices, encompassing the necessity to assess deeds as ethical or unethical.
- Recognize the significance of sincerity, uprightness, and moral excellence within the principles of business ethics.
Verified Answer
KK
Khizra Karamat8 days ago
Final Answer :
Three foundational values used to identify ethical issues are integrity, honesty, and fairness.Understanding these foundational values can help identify and developdiscussions and a constructive dialogue on appropriate conduct. Integrityis one of the most important and oft-cited elements of virtue, and refers to beingwhole, sound, and in an unimpaired condition. Integrity is a value that relates to all activities, not just business issues. Integrity relates to product quality, open communication,transparency, and relationships. Therefore, it is a foundational value for managers to buildan ethical internal organizational culture. Honesty refers to truthfulness or trustworthiness. Honesty is necessary to form trusting relationships needed to do business. Without honesty business (and society) could not exist because nobody could trust anyone else to do what they said they would do. Fairness isthe quality of being just, equitable, and impartial. Fairness is needed to ensure justice as well as equitable relationships among stakeholders.
Learning Objectives
- Identify the moral aspects of business choices, encompassing the necessity to assess deeds as ethical or unethical.
- Recognize the significance of sincerity, uprightness, and moral excellence within the principles of business ethics.