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Final answer:
The answer provides insights on the requirements for a good code of ethics, advantages of ethical business ventures, and the differences between ethics and professionalism.
Explanation:
Requirements for a Good Code of Ethics:
1. Transparency: Codes of ethics should be clear and explicit, outlining acceptable and unacceptable behaviors.
2. Relevance: The code should be relevant to the profession, addressing specific ethical dilemmas professionals may face.
3. Accessibility: All members should have easy access to the code for reference.
Advantages of Ethical Business Ventures:
Ethical businesses tend to earn trust and loyalty from customers, attract top talent, avoid legal issues, and contribute positively to society.
Differences Between the Principles of Ethics and Professionalism:
Ethics: Deals with moral principles and values governing individual behavior. Professionalism: Focuses on the conduct, aims, and behaviors expected within a specific profession.
Learn more about Professionalism, Ethics, Business Practices here:
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