Fairness Principle

Compare and contrast the guiding principles of the Global Business Standards leaf-book and the Mixed Framework principles. Global business standards codex captures eight major underlying principles in which estim fitting behavior can be interpreted and evaluated. The eight ethical principles are fiduciary, property, reliability, transparency, dignity. rectitude, citizenship and responsiveness. Fiduciary Principle. As function of the legal structure of a business organization, each officer and director of a company has a legal fiduciary duty to act in the best interest of the stakeholders and other employees within the immobile.Furthermore, in that location is in any case an implied fiduciary duty for every employee within the organization to also act in a way that generates positive benefits for the firm. Property Principle. The property principle is found on the touch that every employee should extol property as well as the rights of the owners of the property. This princip le has been expanded 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 base on the belief that it is the employees responsibility to honor the commitments he or she has made to the firm. It is expected that the employees will follow through with the promises and commitments that endure been made between the employees and the firm. Transparency Principle. It is ground on the belief that every employee should conduct 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 keep consummate and current records of all the business obligations that are currently the responsibility of the employee. Dign ity Principle. It is based on the belief that each employee needs to respect the dignity of all individuals. It encourages the enhancement of human development not further within the company and marketplace, but also in the society at large. in that respectfore, any type of dismay 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 obtain a vested interest in the firm should be treated plumb. There are four types of fairness reciprocal fairness, distributive fairness, fair competition and procedural fairness. Reciprocal fairness addresses the issues of treating another 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 focuses on the fair treatment given by the f irm 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 for(p) citizen in the community of interests. It is also expected that employees respect the laws of the community. Furthermore, it is expected that employees protect and preserve public goods or leafy vegetable available to the community. It is also expected that employees should be cooperative 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 mustiness not only reply to stakeholders request for information, but also be responsive to ideas presented by the stakeholders to abet improve the operations of the firm. A responsive firm is expected to react in a timely 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 lucid and implicit 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 harm to others.