Fairness Principle

Comp atomic number 18 and telephone line the guiding principles of the orbiculate Business Standards Codex and the Mixed Framework principles. Global bloodline standards codex captures eight major underlying principles in which honourable behavior can be interpreted and evaluated. The eight ethical principles are fiduciary, seat, reliability, transparency, dignity. loveliness, citizenship and responsiveness. Fiduciary Principle. As part of the levelheaded structure of a business organization, each officer and director of a company has a legal fiduciary duty to act in the best come to of the stakeholders and early(a) employees in spite of appearance the square.Furthermore, there is withal an implied fiduciary duty for each employee within the organization to also act in a way that generates af profligateatory benefits for the firm. Property Principle. The property principle is base on the belief that every employee should treasure property as well as the rights of the owners of the property. This principle has been expand to intangible property and now also includes the misappropriation of intellectual property or other types of information.It expected that an employee would protect the tangible and intangible assets of the firm and the employee should be a good steward to the resources the employee has access to. Reliability Principle. It is based on the belief that it is the employees responsibleness to honor the commitments he or she has do to the firm. It is expected that the employees volition follow through with the promises and commitments that have been made between the employees and the firm. Transparency Principle. It is based on the belief that every employee should occupy business in a truthful and open manner.It is expected that the employees will not make decisions based on a personal agenda and not to act in a descriptive manner and to nurture accurate and current records of all the business obligations that are currently the righteousness of the employee. Dignity Principle. It is based on the belief that each employee needs to respect the dignity of all mortals. It encourages the enhancement of gay development not moreover within the company and marketplace, but also in the society at large. Therefore, any type of humiliation coercion, or other type of human offenses is in direct violation of the dignity principle.Fairness Principle. It is based on the belief that stakeholders who have a vested interest in the firm should be treated fairly. There are four types of fairness reciprocal fairness, dispersive fairness, fair contest and procedural fairness. Reciprocal fairness addresses the issues of treating another political party fairly and having the other party treat the firm fairly. Distributive fairness is based on the assumption that the allocation of finite resources within the firm will be distributed fairly based on maximizing the benefits of those allocations.Fair competition accentes on the fair treatment given by the firm as it interacts with its existing and potential competitors, Procedural fairness deals with ensuring that parties that interact with the firm are treated fairly from a due process perspective. Citizenship Principle. It is based on the belief that every employee should act as a responsible citizen in the community. It is also expected that employees respect the laws of the community. Furthermore, it is expected that employees protect and preserve state-supported goods or commons available to the community. It is also expected that employees should be conjunct with community officials.Responsiveness Principle. It is based on the belief that employees have a responsibility to respond to requests for information about the operations from the various stakeholders. As a result, employees must not only reply to stakeholders request for information, but also be responsive to ideas presented by the stakeholders to help improve the operations of the fir m. A responsive firm is expected to react in a incidentally manner to resolve any outstanding issues that have been raised by the employees, interest groups, suppliers, the local community and any other stakeholders that has a vested interest in the company.Mixed Framework principlesa)Fidelity an individual needs to keep explicit and unquestioning promises.b)Reparation an individual must act an repairing the consequences for previous wrongful acts.c)Gratitude an individual must be able to show gratitude for the kindnesses that others have given him or her.d)Justice an individual should try to see that any goods are fairly distributed.e)Beneficence an individual should focus on trying to improve the lives of others.f)Self-improvement an individual should improve oneself by focusing on virtue and intelligence.g)Noninjury an individual should not cause any suffering to others.