Ethics can be considered as the study of principles that different individuals as well as corporations can utilize for the purpose of determination of right as well as wrong courses of activities. Essentially, it can be assumed in ethics that different individuals are independent good agents who are essentially in a correct position to arrive at choices (Moore 2017).
The four basic or fundamental principles of ethics mainly include responsibility, liability as well as accountability. As such, responsibility refers to the fact that independent moral agents, specific individuals, corporations as well as communities are accountable for the activities they undertake (Wang and Murnighan 2014). In addition to this, accountability refers to the fact that individuals, corporations as well as communities need to be held accountable to other people for diverse consequences of different activities undertaken. Again, liability indicates towards certain features or else characteristics of the political scheme in which a particular body of directives is in place that in turn allows individuals to pull through damages inflicted to them by different other agents/actors, systems or else any organization (Moore 2017).
Furthermore, due process refers to a specific feature of specific law governed communities and indicates towards a procedure in which directives are properly known as well as understood and there remains an ability to plead to higher authorities to make certain that the regulations are properly implemented (Wang and Murnighan 2014).
Moore, G., 2017. Virtue at Work: Ethics for Individuals, Managers, and Organizations. Oxford University Press.
Wang, L. and Murnighan, J.K., 2014. Money, emotions, and ethics across individuals and countries. Journal of Business Ethics, 125(1), pp.163-176.
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