Ethics govern proper conduct in business and professional life.
Every career carries a set of ethics with it: ways to behave around colleagues, customers and even competitors that treat everyone fairly and respectfully. It can be easy to lose sight of ethical tenets in a cutthroat environment, where financial prosperity seems to trump all other concerns. Yet, professional ethics not only help navigate difficult circumstances, but grant a career a longevity that less ethical colleagues can never hope to achieve.
Definition
A code of ethics is a specific set of rules or guidelines designed to establish principles of right and wrong within a given profession. Once established, such codes govern the behavior and demeanor of businesses that embrace them. Not only does it allow those businesses to address grievances and handle morally fuzzy situations, but also it lets customers know that a given business is committed to honest and fair dealings.
History
Ethical codes stretch back to the days of ancient Greeks, when philosophers such as Socrates and Aristotle posited complete systems on deal with the rest of the world. One of the earliest professional codes of ethics--the Hippocratic Oath--first appeared in the 5th century B.C. and has been used by doctors ever since. Modern codes of ethics developed alongside craftsman's guilds and organizations such as the Freemasons, providing a common standard to which all members of such organizations adhere.
Aspects
A professional code of ethics needs to be clearly written and easy to understand. Otherwise, those who swear by it may not be clear about its tenets. Furthermore, it requires a measure of practicality, in order to apply to real world situations instead of just hypothetical "good deeds." A code shouldn't be all-encompassing--almost no code can account for every conceivable ethical dilemma which may appear--but instead should provided flexible and widely applicable tenets which adherents can apply on a case-by-case basis.
Enforcement
Ethical codes are not formal laws and as such cannot be enforced as rigorously as laws are. A good professional code of ethics will spell out reasonable penalties for breaking the rules, which employers and/or other authority figures may apply when necessary. Penalties can include censure, reprimand, expulsion from the organization in question or termination of the rule-breakers' job. In the worst instances, a code of ethics may stipulate contacting the authorities and pursuing legal action.
Ideals
While a professional code of ethics should dictate practical behavior, it also needs to outline the ideals and principles by which the attendant organization wishes to adhere. Such principles may be unattainable as everyone makes mistakes from time to time. Yet, by providing a high standard towards which its members can strive, a code of ethics inspires people to behave in the very best manner possible.
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