In a short essay, list and describe five of the eight major underlying principles in which ethical behavior can be interpreted and evaluated.
What will be an ideal response?
a. Fiduciary principle—the traditional components of fiduciary duty include ensuring that there are no actual or potential conflicts of interest given the actions of the employee. It also is implied that each employee will not put his or her self-interests above the interest of the firm
b. Property principle—based on the belief that every employee should respect property as well as the rights of the owners of the property
c. Reliability principle—based on the belief that it is the employee’s responsibility to honor
commitments he or she has made to the firm
d. Transparency principle—based on the belief that every employee should conduct business in a truthful and open manner
e. Dignity principle—based on the belief that each employee needs to respect the dignity of all individuals
f. Fairness principle—based on the belief that stakeholders who have a vested interest in the firm should be treated fairly
g. Citizenship principle—based on the belief that every employee should act as a responsible citizen in the community
h. Responsiveness principle—based on the belief that employees have a responsibility to respond to requests for information about the operations from the various stakeholders
Answer Location: Global Business Standards Codex
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