Ethics, also known as moral philosophy is a branch of philosophy that addresses questions about morality—that is, concepts such as good and evil, right and wrong, virtue and vice, justice, etc.
Major branches of ethics include:
Meta-ethics, about the theoretical meaning and reference of moral propositions and how their truth-values (if any) may be determined;
Normative ethics, about the practical means of determining a moral course of action;
Applied ethics, about how moral outcomes can be achieved in specific situations;
Moral psychology, about how moral capacity or moral agency develops and what its nature is; and
Descriptive ethics, about what moral values people actually abide by.
Within each of these branches are many different schools of thought and still further sub-fields of study.
ETHICAL CODE
An ethical code is adopted by an organization in an attempt to assist those in the organization called upon to make a decision (usually most, if not all) understand the difference between 'right ' and 'wrong ' and to apply this understanding to their decision. The ethical code therefore generally implies documents at three levels:
Code of ethics (corporate or business ethics)
A code of ethics: A code of ethics often focuses on social issues. It may set out general principles about an organization 's beliefs on matters such as mission, quality, privacy or the environment. It may delineate proper procedures to determine whether a violation of the code of ethics has occurred and, if so, what remedies should be imposed. The effectiveness of such codes of ethics depends on the extent to which management supports them with sanctions and rewards. Violations of a private organization 's code of ethics usually can subject the violator to the organization 's remedies (such as restraint of trade based on moral principles). The code of ethics links to and gives rise to a code of conduct for employees.
Code of conduct (employee ethics)
A code of conduct is a document
References: Ahmed, S.U, "Entrepreneurship and Management Practices Among Immigrants from Bangladesh in the United Kingdom", unpublished Doctoral Thesis, Brunel University, London, 1981. Asian Productivity Organization, Commercialization of Indigevous Technology. Compiled and Edited by Volunteers in Technical Assistance, 1985. Dr. Purohit Kumar Kanchan and Rahman Shahedur, "The Development of Entrepreneurship in Bangladesh: A Study of Entrepreneurs in Garments Industry", Chittagong University Studies, Commerce Vloume- 11, 1995. Habrison, Fredefick and Charles Myers, Education, Manpower and Economic Growth : Strategies for Human resources Development, New York, McGraw Hill Series in International Development