Unit II

PROFESSIONALISM

Accreditation

Accreditation is the process of formally obtaining credibility from an authorized body. In terms of
information security, federal agencies must adhere to the 2002 Federal Information Security
Management Act (FISMA) for all activities related to information assurance.

An organization may consider itself accredited according to internal standards or elect to adhere to a
more formal process with an independent entity, such as the International Organization for
Standardization (ISO).

Federal agencies must adhere to state agency regulations related to accreditation. Private
businesses follow a similar process.

For example, the National Institute of Standards and Technology (NIST) Special Publication 800-37
may be used as a guide and tailored to organizational requirements. This type of accreditation
process communicates established preventative measures and an understanding of associated IT
security risks.

Other organizations are accredited through ISO/IEC 27001 - a standard that explains
recommendations and requirements related to IS and risk protection.

By definition – accreditation is a formal, third party recognition of competence to perform specific

tasks.

The accreditation hierarchy is overseen by the International Accreditation Forum (IAF) and the
European Accreditation Forum (EA). Both forums approve and accredit the National Accreditation
Body (NAB) in each country that has arrangements in place to operate an NAB. You can see the list
of approved NABs at www.iaf.nu.

APMG is global exam, certification and accreditation body accredited by UKAS – the UK’s only
National Accreditation Body (NAB). UKAS is internationally recognized for applying the most rigorous
assessment procedures – ensuring that all Certified Bodies apply similarly high standards when
certifying an organization.

Any organization which has been accredited by UKAS agrees to abide by its stringent terms and
conditions for assessing clients, for keeping records to support such assessments, handling customer
orders and organizing its business and processes.

APMG’s accredited by UKAS to deliver the Change Management Practitioner certification. In turn,
APMG approves its Accredited Training Organizations to ensure that they’re delivering their
products and services to the same high standards.
Accredited status therefore assures prospective clients that an APMG Accredited Training
Organizations have been rigorously assessed.

Clients should always ensure their selected Certification Body has been accredited by a NAB.

Certification

Certification is defined as the conformance to certain characteristics of an object, person, or

organization. The conformance is often, but not always, provided by some form of external review,
education, assessment, or audit.

An independent body provides certification in the form of written assurance indicating that the
service, product or system satisfies specific requirements.

Certification verifies that an individual or organization has achieved a certain level of compliance
within a particular area. It indicates they have completed the necessary steps to receive a specific
designation. Again – it’s important to be certified by an official certification body, as scenarios arise
where individuals become ‘certified’ by simply paying a membership fee – rendering the certification
valueless.

Official certification shows you’ve achieved a worthwhile designation – thus demonstrating to your
employer and/or clients that you possess capability in a chosen area confirmed by a reputable
organization.

Certification demonstrates that the offered products or services meet the expectations of the
customer. For many organizations – certification is necessitated by law or contract.

Certification is confirmed once you, your organization or your department have gone through all the
steps specified in the standards you are aiming for.

When an individual passes an APMG examination following a course provided by an approved ATO –
they can demonstrate their knowledge of the subject matter contained within the course material of
that certification.

Certification and Accreditation (C&A or CnA) is a process for implementing any formal process. It is a
systematic procedure for evaluating, describing, testing, and authorizing systems or activities prior
to or after a system is in operation. The process is used extensively across the world.

What is the difference between certification and accreditation?

As an accreditation body, ASI "checks the checkers."

Certification is the confirmation that a client (also called a Certificate Holder) operates in line with a
set of requirements, which are defined by a standard setter. Conformity Assessment Bodies (CABs),
also commonly called Certification Bodies (CBs), perform these certification activities.

ASI has been appointed as the international accreditation body for a range of voluntary sustainability
standards (VSS). To certify these standards, a CAB must be accredited by ASI. ASI does not offer
accreditation for schemes accredited by public entities.
In other words, before a CAB performs certification for any of these VSS, they must be accredited by
ASI. Any entity wishing to earn certification should contact an accredited CAB.

ASI international accreditation ensures that:

standard setting and evaluation are independent and impartial

voluntary sustainability standards (VSS) are implemented with rigour and consistency around the
world.

CABs are able to thoroughly assess clients against VSS requirements and issue certificates in an
impartial manner

Licensing:

There are few faster or more profitable ways to grow your business than by licensing patents,
trademarks, copyrights, designs, and other intellectual property to others. Licensing lets you
instantly tap the existing production, distribution and marketing systems that other companies may
have spent decades building. In return, you get a percentage of the revenue from products or
services sold under your license. Licensing fees typically amount to a small percentage of the sales
price but can add up quickly.

For example, about 90 percent of the $160 million a year in sales at Calvin Klein Inc. comes from
licensing the designer's name to makers of underwear, jeans and perfume. The only merchandise
the New York-based company makes itself, in fact, are its women's apparel lines. Many large
corporations, such as the Walt Disney Co., generate less significant proportions of their revenue
from licenses. IBM, after energizing its efforts to license its thousands of technology patents a few
years ago, now attributes $1 billion a year of its corporate sales to licensing. The downside of
licensing is that you settle for a smaller piece of the pie. Calvin Klein-branded products, for example,
generate $5 billion in sales a year, the vast majority of which goes to licensees and retailers. At the
same time, licensing revenue tends to be high-margin, with almost all the fees from licensing flowing
straight to the bottom line.

On the other side of the coin, you could be the one with the interest in licensing the high-recognition
brand name of another company. To many, it might seem like the key to a gold mine: Putting a
Notre Dame logo, a Lion King character or a Star Wars graphic on your product means guaranteed
success, right?

For a sure thing, prepare for a frustrating search. But if you're willing to put some time and effort
into making your product work, buying the licensing rights to a well-known product or name can
substantially increase your chances for success.

Licensing is a billion-dollar retail market worldwide. But a license isn't a prescription for instant
success. It gives you the borrowed interest of a name that is either unique or has some consumer
acceptance, but it still takes good selling and marketing to succeed. A license is, in essence, a tool,
and when used well, it's an extremely cost-effective marketing tool.

Licensing offers three major advantages. First, it may mean you have something unique your
competitors don't. Second, it may mean getting a little better margin because it's unique. And third,
it may mean that 10 percent of the retailers you call on that you've never been able to sell to will
finally take a look because you have something different. And when that happens, you can sell the
rest of your line.

Who can obtain a licensing agreement? The list runs the gamut from a multinational conglomerate
to a one-person operation. But in general, a licensor looks for the strongest company in terms of
finances, manufacturing and marketing. The good news for small business is that strength is not
necessarily measured in dollars or longevity.

Before you tackle the licensing industry, you need to have your own house in order. Make sure you
have or can get financing, ensure that your manufacturing capacity is up to snuff, and establish
distribution channels. It's also a good idea to try to establish a sales history for your products. Once
this is accomplished, then decide what licensing products you want to target.

Once you know who you want to target, the next step is talking to the company or its representative
and convincing them of your product's potential. Large organizations will most likely have people
who oversee licensing and marketing or will have turned those functions over to a licensing agent.
You can determine the proper person to speak with by contacting the company directly to ask about
licensing opportunities.

Deciding which licensor to approach means evaluating your strengths. The bigger and more popular
the property is, the more it's going to cost to secure the licensing rights. Beginners should probably
start out small to learn the ropes.

Once you begin approaching companies, many will ask you to fill out a licensing application, and all
will ask for a business plan detailing how you propose to market the product, who your target
audience is and what you estimate sales could be. Most licensors will also request product samples.

What happens after the licensor says yes? Most, if not all, companies will ask for a minimum
guarantee of sales covering the life of the contract paid in advance or in installments, and will charge
royalties as well. Royalties are a percentage of sales paid by the licensee to the owner of a property
or a designated agent, usually based on the net wholesale selling price. Some licensors are willing to
negotiate these fees; others are not.

THE CODE OF ETHICS

Members of CFA Institute (including CFA charterholders) and candidates for the CFA designation
(“Members and Candidates”) must:

• Act with integrity, competence, diligence, respect and in an ethical manner with the public, clients,
prospective clients, employers, employees, colleagues in the investment profession, and other
participants in the global capital markets.

• Place the integrity of the investment profession and the interests of clients above their own
personal interests.

• Use reasonable care and exercise independent professional judgment when conducting
investment analysis, making investment recommendations, taking investment actions, and engaging
in other professional activities.
• Practice and encourage others to practice in a professional and ethical manner that will reflect
credit on themselves and the profession.

• Promote the integrity and viability of the global capital markets for the ultimate benefit of society.

• Maintain and improve their professional competence and strive to maintain and improve the
competence of other investment professionals.

STANDARDS OF PROFESSIONAL CONDUCT

I. PROFESSIONALISM

A. Knowledge of the Law. Members and Candidates must understand and comply with all applicable
laws, rules, and regulations (including the CFA Institute Code of Ethics and Standards of Professional
Conduct) of any government, regulatory organization,licensing agency, or professional association
governing their professional activities. In the event of conflict, Members and Candidates must
comply with the more strict law, rule, or regulation. Members and Candidates must not knowingly
participate or assist in and must dissociate from any violation of such laws, rules, or regulations.

B. Independence and Objectivity. Members and Candidates must use reasonable care and judgment
to achieve and maintain independence and objectivity in their professional activities. Members and
Candidates must not offer, solicit, or accept any gift, benefit, compensation, or consideration that
reasonably could be expected to compromise their own or another’s independence and objectivity.

C. Misrepresentation. Members and Candidates must not knowingly make any misrepresentations
relating to investment analysis, recommendations, actions, or other professional activities.

D. Misconduct. Members and Candidates must not engage in any professional conduct involving
dishonesty, fraud, or deceit or commit any act that reflects adversely on their professional
reputation, integrity, or competence.

II. INTEGRITY OF CAPITAL MARKETS

A. Material Nonpublic Information. Members and Candidates who possess material nonpublic
information that could affect the value of an investment must not act or cause others to act on the
information.

B. Market Manipulation. Members and Candidates must not engage in practices that distort prices
or artificially inflate trading volume with the intent to mislead market participants.

III. DUTIES TO CLIENTS

A. Loyalty, Prudence, and Care. Members and Candidates have a dutyof loyalty to their clients and
must act with reasonable care and exercise prudent judgment. Members and Candidates must act
for the benefit of their clients and place their clients’ interests before their employer’s or their own
interests.

B. Fair Dealing. Members and Candidates must deal fairly and objectively with all clients when
providing investment analysis, making investment recommendations, taking investment action, or
engaging in other professional activities.
C. Suitability.

1. When Members and Candidates are in an advisory relationship with a client, they must:

a. Make a reasonable inquiry into a client’s or prospective client’s investment experience,

risk and return objectives, and financial constraints prior to making any investment
recommendation or taking investment action and must reassess and update this information
regularly.

b. Determine that an investment is suitable to the client’s financial situation and consistent
with the client’s written objectives, mandates, and constraints before making an investment
recommendation or taking investment action.

c. Judge the suitability of investments in the context of the client’s total portfolio.

2. When Members and Candidates are responsible for managing a portfolio to a specific mandate,
strategy, or style, they must make only investment recommendations or take only investment
actions that are consistent with the stated objectives and constraints of the portfolio.

D. Performance Presentation. When communicating investment performance information,

Members and Candidates must make reasonable efforts to ensure that it is fair, accurate, and
complete.

E. Preservation of Confidentiality. Members and Candidates must keep information about current,
former, and prospective clients confidential unless:

1. The information concerns illegal activities on the part of the client or prospective client,

2. Disclosure is required by law, or

3. The client or prospective client permits disclosure of the information.

IV. DUTIES TO EMPLOYERS

A. Loyalty. In matters related to their employment, Members and Candidates must act for the
benefit of their employer and not deprive their employer of the advantage of their skills and
abilities, divulge confidential information, or otherwise cause harm to their employer.

B. Additional Compensation Arrangements. Members and Candidates must not accept gifts,
benefits, compensation, or consideration that competes with or might reasonably be expected to
create a conflict of interest with their employer’s interest unless they obtain written consent from all
parties involved.

C. Responsibilities of Supervisors. Members and Candidates must make reasonable efforts to

ensure that anyone subject to their supervision or authority complies with applicable laws, rules,
regulations, and the Code and Standards.

V. INVESTMENT ANALYSIS, RECOMMENDATIONS, AND ACTIONS

A. Diligence and Reasonable Basis. Members and Candidates must:

1. Exercise diligence, independence, and thoroughness in analyzing investments, making investment
recommendations, and taking investment actions.

2. Have a reasonable and adequate basis, supported by appropriate research and investigation, for
any investment analysis, recommendation, or action.

B. Communication with Clients and Prospective Clients. Members and Candidates must:

1. Disclose to clients and prospective clients the basic format and general principles of the
investment processes they use to analyze investments, select securities, and construct
portfolios and must promptly disclose any changes that might materially affect those
processes.

2. Disclose to clients and prospective clients significant limitations and risks associated with
the investment process.

3. Use reasonable judgment in identifying which factors are important to their investment
analyses, recommendations, or actions and include those factors in communications with
clients and prospective clients.

4. Distinguish between fact and opinion in the presentation of investment analysis and
recommendations.

C. Record Retention. Members and Candidates must develop and maintain appropriate records to
support their investment analyses,recommendations, actions, and other investment-related
communications with clients and prospective clients.

VI. CONFLICTS OF INTEREST

A. Disclosure of Conflicts. Members and Candidates must make full and fair disclosure of all matters
that could reasonably be expected to impair their independence and objectivity or interfere with
respective duties to their clients, prospective clients, and employer. Members and Candidates must
ensure that such disclosures are prominent, are delivered in plain language, and communicate the
relevant information effectively.

B. Priority of Transactions. Investment transactions for clients and employers must have priority
over investment transactions in which a Member or Candidate is the beneficial owner.

C. Referral Fees. Members and Candidates must disclose to their employer, clients, and prospective
clients, as appropriate, any compensation, consideration, or benefit received from or paid to others
for the recommendation of products or services.

VII. RESPONSIBILITIES AS A CFA INSTITUTE MEMBER OR CFA CANDIDATE

A. Conduct as Participants in CFA Institute Programs. Members and Candidates must not engage in
any conduct that compromises the reputation or integrity of CFA Institute or the CFA designation or
the integrity, validity, or security of the CFA Institute programs.

B. Reference to CFA Institute, the CFA Designation, and the CFA Program. When referring to CFA
Institute, CFA Institute membership, the CFA designation, or candidacy in the CFA Program,
Members and Candidates must not misrepresent or exaggerate the meaning or implications of
membership in CFA Institute, holding the CFA designation, or candidacy in the CFA program.

Importance of Codes:

Regardless of whether your organization is legally mandated to have a code (as public companies
are), every organization should have one. A code has value as both an internal guideline and an
external statement of corporate values and commitments.

A well-written code of conduct clarifies an organization's mission, values and principles, linking
them with standards of professional conduct. The code articulates the values the organization
wishes to foster in leaders and employees and, in doing so, defines desired behavior. As a result,
written codes of conduct or ethics can become benchmarks against which individual and
organizational performance can be measured.

Additionally, a code is a central guide and reference for employees to support day-to-day decision
making. A code encourages discussions of ethics and compliance, empowering employees to handle
ethical dilemmas they encounter in everyday work. It can also serve as a valuable reference, helping
employees locate relevant documents, services and other resources related to ethics within the
organization.

Externally, a code serves several important purposes:

 Compliance: Legislation (i.e., the Sarbanes-Oxley Act of 2002) requires individuals serving on
boards and organizational leaders of public companies to implement codes or clearly explain
why they have not.

 Marketing: A code serves as a public statement of what the company stands for and its
commitment to high standards and right conduct.

 Risk Mitigation: Organizations with codes of ethics, and who follow other defined steps in
the U.S. Sentencing Commission's Federal Sentencing Guidelines, can reduce the financial
risks associated with government fines for ethical misconduct by demonstrating they have
made a "good faith effort" to prevent illegal acts.

Limitations of Codes:

A professional code of ethics is a set of rules which define how those involved in a given industry or
company should interact with clients and conduct business in general. Implementing a code of ethics
has several disadvantages which may affect employee performance and a company's bottom-line
sales.

Smaller Profits:

A professional code of ethics restricts a businessman from going after maximum profit in favor of
"what's best for the client." This may mean a businessman's sales figures under-perform for a given
quarter because he's only selling people what they "need" versus what he can convince them they
need. If the businessman works on a commission, not only is he returning smaller profits for his
business but he's also taking home less money. According to SRA International, a professional code
of ethics teaches an employee to put the client first and always be honest with him. In the
competitive business world where results matter more than politeness, this strategy could cost
someone a job.

Wasted Time:

A professional code of ethics requires you to invest your time in inefficient ways. Taking the time to
establish good rapport with clients and other sales people takes time away from the business of
making money. For example, while you're off somewhere at a charity golf event raising your
presence in the community as an upstanding, ethical businessman, your competition is closing a deal
and maneuvering you out of contention. Losing a big sale to more tenacious competition can
severely damage your career.

Performance and Unattainable Goals:

A professional code of ethics places value on treating all employees with respect as opposed to
respecting performance. Implementing a professional code of ethics may cause employee
production to slip as the focus is taken away from results and work standards, and turned toward
creating a happy work environment. A code of ethics may also raise the public's expectations for
company standards to unattainable levels, according to the business information website Goliath.
This creates a more stressful workplace as employees struggle to maintain performance standards
while learning a new rules set.

Ethical Relativism:

Ethical Relativism is the view that moral (or normative) statements are not objectively true, but
“true” relative to a particular individual or society that happens to hold the belief.

In saying that moral beliefs are relative, we mean that they are a function of, or dependent on, what
those individuals or societies do, in fact, believe. Put negatively, according to E.R., there are no
objective moral values, no objective right or wrong, and no universally valid moral claims
independent of what a subject happens to believe.

Hence, there are no objective and universal norms against which we might measure our subjective
beliefs about morality. There is no moral knowledge. Note: the opposite view- right and wrong is
objective and universal – is often called

Two versions of Ethical Relativism

Individual or Personal Ethical Relativism: ethical statements are relative to the individual.

I have my ethical views and you have yours, neither my views nor your views are better or more
correct. In a sense we are all equally correct, insofar as whatever we believe is true, or looked at
differently, the idea of being more or less correct doesn’t apply to moral beliefs, since that would
assume that there is some objective standard of right or wrong, independent of what I might believe
which would serve as a standard of judgment, but that is exactly what relativism denies. This is
sometimes called ethical subjectivism.
Social or Cultural Ethical Relativism: ethical statements are relative to a given society. Although
societies may differ or disagree as to what is right or wrong, for an individual to decide what is right
or wrong, one must simply look to the norms of the society in which they live. Right and wrong
simply IS what a given society says it is. And although a society may believe that its views are the
correct ones, cultural ethical relativism insists that no society’s views are better or more moral that
any other society’s beliefs. For the same reason stated above, there is no objective standard
independent of what a society actually believes against which its views might be evaluated.

An operational definition of Ethical Relativism: Whenever two people or two societiesdisagree about
the morality of an act (i.e., hold different and opposing views), both sides are equally correct.

Reasons for Ethical Relativism

1. Diversity of Moral Views Argument

The fact of disagreement and differences in moral beliefs is evidence for the claim that there are no
objective moral truths, only subjective moral beliefs.

2. Moral Uncertainty Argument

The fact that I do not know for certain (objectively) in a given situation what is right, implies that
there is no objective standard; hence morality is relative and subjective.

3. Situational Differences Argument

Given the many differences in particular circumstances, what we call morality must berelative to the
particular situation and no objective or universally valid moral norms exist.

4. Toleration of Differences Argument

Ethical Relativism promotes Tolerance for differences and/or Tolerance is consistent with ethical
relativism.

Four Reasons (Arguments) for Ethical Relativism

1. The Diversity of Moral Views

For: The actual fact that People and Societies have and continue to disagree aboutthe moral issues,
they continue to hold different moral beliefs.

For a Relativist, this fact is best explained by and is therefore evidence for E.R.; otherwise we would
expect to find considerable moral agreement. (See Ruth Benedict). In sum: The fact of disagreement
and differences in moral beliefs is evidence for the claim that there are no objective moral truths,
only subjective moral beliefs.

2. Moral Uncertainty

For: Despite our best efforts, we are often uncertain about what is the right thing to do, especially in
the context of a dilemma, our judgment seems to be very subjective, a matter of personal opinion.
There seems to be no decisive way to settle many moral disputes, in contrast with factual disputes.
Relativism based on epistemic uncertainty and/or skepticism. In sum, the fact that I do not know for
certain in a given situation what is right implies that there is no objective standard; hence morality is
relative and subjective.

3. Situational Differences

For: The actual situation in which people live are often very different, it is implausible to believe that
there could be one set of moral principles or rules that are universally true for all persons at all
times. In sum, given the many differences in particular circumstances, what we all morality must be
relative to the particular situation and no objective or universally valid moral norms exist.

4. Toleration of Differences

For: People from different cultures have different moral beliefs, one ought to tolerate, i.e., not be
critical of, these beliefs. One ought not to think that one view is better or more correct than another,
hence one should adopt ethical relativism, which entails that all moral beliefs are equally correct. In
sum, Ethical Relativism promotes Tolerance for differences and/or Tolerance is consistent with ethical
relativism.

Against the aforementioned Arguments for Ethical Relativism

1. The Diversity of Moral Views Argument

1. If people disagree about some claim, then that claim is subjective and relative.

2. People disagree about moral claims.

3. Therefore, moral claims are subjective & relative, i.e., E.R. is true (both side sides are
equally correct).

2. Moral Uncertainty Argument

Against: Uncertainty, even not knowing, does not prove there is nothing to know. In a complex moral
situation, I may be uncertain about what is the right thing to do. I may indeed have to simply act
according to my conscience, i.e., what I believe to be right. But this does not prove that morality is
wholly a matter of mere belief. That would be like saying; since I do not know with certainty the
correct answer to this problem therefore there is no correct answer (the fallacy of appeal to
ignorance). The best I can say is that I do not know the answer, not that there is no answer.

Granted, such situations may lead to Skepticism (I doubt that I can know withcertainty that x is true),
but skepticism is not equivalent to, nor does it necessarily imply, relativism. Relativism assumes that
I know something very significant about moral claims, i.e., that they are all subjective and relative
and that there are no objective norms. But one cannot draw a positive conclusion (about the nature
of morality) from a negative premise. At best, relativism is a possibility.

3. Situational Differences Argument

Situational differences seem to make objectivity, in terms of a common or universal morality

impossible. A Relativist insists that moral norms cannot be objective universally true, because
circumstances vary too much. For example, a Relativist might insist that given diverse circumstances,
the judgment that “lying is always wrong” cannot be absolutely true. For instance, lying might be
right in order to save a life. Against: This argument confuses Objectivism with ABSOLUTISM
Absolutism: one set of absolute moral rules that apply in all places and at all times;

Objectivism: some moral claims are objective and universal, but particular moral rules may vary. The
Objectivist agrees that Absolutism is too simplistic, that is, that one can know absolutely the truth or
falsity of every moral statement, but insists that moral differences can be explained objectively by a
comprehensive moral theory, which will explain why certain goods may take presence over other
goods, when they conflict. Hence, moral conflicts and situational differences do not lead to the
conclusion that all norms are subjective and relative.

4. Toleration of Differences Argument

Indeed, much of contemporary relativism is not the result of a logical argument but is a function of
allegiance to a value Tolerance. Against: This position is contradictory. I might adopt tolerance as a
moral value, but if relativism is correct, than tolerance is only one value among many. Since no value
is more correct than another, I could just as easily adopt dogmatism as my overriding moral belief.
Moreover, if relativism is true, why should I even bother to listen to another person’s moral beliefs,
since by definition their beliefs cannot be better or more correct than my own beliefs? (See Bernard
Williams). Oddly enough, an ethical objectivist, who is not a dogmatist, might insist that tolerance is
an objective value and trans-cultural, in that by being open to the beliefs of others I am more likely
to come closer to the truth about morality.

Justification of Codes:

Ethics and Morality:

Codes of Ethics are concerned with ethics.1 But what is ethics? Ethics or morality is about what
actions an individual person or member of an occupation ought to do, and it is about what kind of
character an individual person or member of an occupation ought to have. It is also about what
features the organisations which employ members of specific occupations ought to have.

Although ethics is concerned with what ought to be done, or not done, it does not embrace the
entire sphere of prescribed or proscribed actions. For there are ‘oughts’ other than the ethical or
moral ‘ought’. Sometimes we say things like, “You ought to have said ‘Hello’ to Jack”. Here the
‘ought’ is one of etiquette. You ought, because it is rude not to greet people; rude, but not
necessarily unethical or immoral.

Ethics is not the same thing as etiquette or manners. So codes of ethics should not address issues of
politeness.

We also need to distinguish ethics or morality from aesthetics. Sometimes we say that that painting
is good, or that so and so ought not wear green trousers with a blue shirt, or shocking pink suits.
Here we have in mind aesthetics; it is not unethical or immoral to dress in these ways.

Ethics is not the same thing as aesthetics. So codes of ethics should not address issues of style,
rhetoric or self-presentation.
The terms “ethics” and “morality” are often used interchangeably. However, sometimes ethics is
distinguished from morality. One way of making the distinction is as follows. Morality is about
minimum standards of behaviour and attitude. Do not kill the innocent, do not tell lies, do not steal
or commit fraud. These are all minimum standards of behaviour; they are moral principles. On the
other hand – on this way of thinking - ethics is a wider notion. Ethics involves ideals and aspirations;
it goes beyond minimum standards. A doctor who was competent, and was not negligent might not
be engaged in immoral behaviour. Nevertheless, such a doctor might not be a good doctor. To be a
good doctor implies doing more than merely complying with minimum standards. For example, a
good doctor would have a caring attitude to his or her patients.

Henceforth, I will distinguish ethics and morality in this above-described way. So morality refers to
minimum standards, whiles ethics refers to a wider field of value that embraces notions of what is
good and worth aspiring to - ideals as well as minimum standards.

Accordingly, codes of ethics will refer not only to moral principles, but also to ideals of the good. One
important point to consider in this connection concerns punitive sanctions.

Presumably punitive sanctions - sanctions applied in the context of an appropriate complaints and
discipline system - ought only to be deployed in relation to minimum standards (morality) but not in
relation to ideals (ethics). A second important point concerns education. If ideals are to be realised
then they need to be inculcated. If this is not to be done primarily by punitive sanctions, it will need
to be done (at least in large part) by formal and informal education.

Let us now turn to a general account or map of the ethical or moral terrain. We will return to values
and issues specific to occupations, and to codes of ethics, in the ensuing sections.

In thinking and reasoning about moral or ethical questions, and about codes of ethics, there are a
number of key concepts and distinctions. We will now introduce some of the more important of
these.

First we need to distinguish between actions, habits and attitudes.

Actions are morally right or morally wrong or neither. Examples of actions normally regarded as
morally right are truth-telling, paying one’s debts and providing for one’s children. Examples of
actions normally regarded as morally wrong are breaking a promise, killing an innocent person and
thieving. Examples of actions which are normally regarded as neither morally right nor morally
wrong are going for a walk, drinking a bottle of lemonade or buying the Sunday papers.

If we now turn to ethical actions, as opposed to merely morally acceptable, actions then we can see
that they tend to be actions in conformity with ideals or aspirations. For example, giving bread to a
hungry person, or not taking advantage of one’s competitor when they are in an unfortunate
situation due to bad luck.

Notwithstanding the distinction between minimum standards and ideals, the boundary between
these is blurred; there is a considerable grey area. Moreover, it is important to note that attending
only to minimum standards – being a ‘rule addict’ and eschewing ideals - is an ultimately
unsustainable position. Rule addicts will tend to lose sight of the values, including ideals, that inform
even the rules embodying minimum standards; ultimately this is corrosive of conformity to minimum
standards, as well as the realisation of ideals.

19

Codes of ethics typically prescribe and proscribe actions. Indeed, codes of ethics are largely about
actions. However, the view that codes of ethics are simply rules that prescribe what actions are to be
performed, and what actions are not to be performed, is too narrow. For one thing, codes of ethics
typically mention virtues and vices, as well as actions. Virtues and vices are habits or dispositions to
act. As such they are not simply actions, they are elements of a person’s character. For another
thing, codes of ethics are, or ought to be, concerned with affective attitudes as well as actions.
Attitudes are important; attitudes motivate actions.

Habits are dispositions to action that are typically or standardly performed by a person. For example,
Winston Churchill had the habit of smoking cigars. Habits include virtues, such as courage, honesty
and determination, as well as vices, such as cowardice, corruption and dishonesty. Winston Churchill
was said to be a courageous leader because he frequently or habitually made hard decisions in the
service of his country. The police officer Chook Fowler was said to be corrupt because he
consistently or habitually engaged in illegal activity to enrich himself. Some habits are neither virtues
nor vices. For example, the habit of taking the dog for a walk in the early morning would not
normally be regarded as either a virtue or a vice.

Once again, vices tend to call for moral condemnation; people who are corrupt or dishonest fail to
meet minimum standards. On the other hand, persons possessed of virtues tend to be seen as
ethical; they have dispositions to do good. They do more than merely avoid wrongdoing. However,
once again there is a grey area here between minimum standards and ideals.

As noted above, the key property of virtues and vices is that they are elements of character; they are
to do with what a person is, as opposed to what a person might do on some particular occasion.
Clearly character, and thus virtues and vices, are of central importance in ethics, and typically they
feature in codes of ethics. For example, many codes of ethics advocate the virtue of honesty,
trustworthiness, sincerity, and so on.

Affective attitudes, including feelings and emotions, are not actions as such; nor are they habits or
merely dispositions to act. A person can obey all the rules, even do so as a matter of habit, and yet
have a ‘bad attitude’.

As with actions and habits, affective attitudes can be classified into those that are by and large good,
such as a caring or sympathetic or sensitive attitude, and those that are for the most part morally
wrong, such as an attitude of hatred or contempt. Naturally, some attitudes would not normally be
regarded as either good or morally wrong, for example, the attitude or feeling of excitement
generated at the thought of being paid a large salary. Moreover, there is a grey area here between
morally problematic attitudes such as hatred, and attitudes that one ought to ideally have, but ought
not suffer moral condemnation if one did not experience them for example, friendliness.

Codes of ethics have typically been much more concerned with actions than with attitudes. That
said, the so-called caring occupations, such as child-minders, social workers and nurses, typically
mention attitudes, such as caring or being sympathetic. So do some other codes, such as journalists’
codes. They often note the need for sensitivity in, for example, interviewing someone who has
recently suffered trauma. Moreover, even the accountants’ codes speak of a duty of care. Doubtless,
this duty of care is in large part spelled out in terms of actions. However, it is difficult to conceive of
this duty to care as not having at least a partial attitudinal element. A similar point holds for the duty
of impartiality.

A further important point that should be made in relation to codes of ethics and attitudes concerns
culture or ethos. The culture or ethos of an occupational group or organisation is the ‘spirit’ that
pervades it. A group can be to have a low rather than high morale, or to have a positive culture
rather than a culture of complaint, or to have a culture of service rather than one of contempt for
their clients. Culture in this sense refers in large part to the attitude of the members of the group to
one another and to their clients or customers. It goes without saying that culture in this sense is very
often a question of ethical attitude, and therefore ought to fall within the purview of codes of ethics.

We can further characterise actions, habits and attitudes as being intrinsically good/bad or good/bad
in terms of their consequences. For example, the excitement derived from driving fast cars might not
be intrinsically either morally good or morally bad. However, such desire for such excitement might
cause (say) a taxi driver to drive fast in heavy traffic and thereby cause accidents. If so, this
excitement might be held to be morally bad in virtue of its consequences.

The notion of a principle or rule is fundamental to ethics and especially morality, especially in
relation to actions. Here we need to distinguish between moral or ethical principles and goals or
ends. We also need to distinguish between moral or ethical principles and other sorts of principles.

Goal or ends, including ideals, are states of affair or outcomes that individuals or groups or
organisations aim at or seek to realise by means of their actions. Ideals and aspirations are goals or
ends that are good, or at least believed to be good. Principles, by contrast, govern actions, not as
ends to their means, but as rules or maxims to instances of conformity to them. As such, principles
prescribe regularities in action.

The proximate or immediate justification for the existence of many occupations is the existence of a
widespread desire, and therefore economic demand, for the product or services that they provide.
The justification for ice cream sellers is that people desire to eat ice creams. Presuming such desires
not to be harmful – as opposed to harmful desires such as a desire to inject heroin – then the
fulfilment of these desires is a good thing, and the product that fulfils them can be referred to as a
good, though not necessarily a moral good.

However, the ultimate justification for the existence of human institutions and of associated
occupations, such as government, the education system, the health system, the economic system
and the criminal justice system, is their provision of some moral or ethical or moral good or goods to
the community. The existence of universities is justified by the fact that the academics that they
employ discover, teach and disseminate the fundamental human good, knowledge. The existence of
governments is justified by the fact that they provide the fundamental social good, leadership of the
community, and thereby contribute to prosperity, security, equitable distribution of economic
goods, and so on. The existence of the economic system is justified by the fact that they provide for
the material well-being of members of the communities that participate in that system.

In short, the point of having any one of these institutions is an ethical or moral one; each provide
some fundamental human or social good(s). And the extent to which some specific government or
university or economic system fails to provide the moral good which justifies their existence is the
extent to which their continued existence needs to be called into question. There are international
and historical examples where an institution has for one reason or another got to the point where it
is no longer providing the moral good(s) that justify its existence.

In relation to government, cases in point include totalitarian governments such as those under Stalin
or Hitler, and also governments no longer able to govern, such as the 'governments' of Liberia and
former Yugoslavia. In relation to economic systems, examples might include the socialist economies
in former East European communist regimes, which ultimately failed to adequately provide for the
material needs of their communities.

In relation to occupations, consider the academics, business people, bureaucrats, doctors,

psychiatrists, police officers, journalists, and so on, who abandoned the principles and ideals of their
chosen occupations, and put their knowledge and skills in the service of the evil ends of totalitarian
government during the Nazi period.

Professional Rights:

1. To translate with the greatest fidelity and accuracy he can command, endeavoring always to give
his readers and audiences the impression they would have if they could read or hear the original.

2. To maintain professional discretion and in particular to respect the rights of his client or employer
by divulging nothing he may have learned in his professional capacity that is harmful to their
interests; and to derive no personal profit or advantage from any confidential information he may
have acquired in his professional capacity.

3. To accept no assignment for which he knows himself to be less than well qualified in either
language or understanding of the subject, except with the prior knowledge of his client or employer;
and to refuse any assignment which he believes he cannot properly complete within the time
allowed.

4. To share professional knowledge with his colleagues on a reciprocal basis.

5. To refrain from any action likely to discredit the profession, and in particular to abstain from
engaging in unfair competition.

6. To seek or accept no work on terms that are humiliating to him or to the profession.

7. To refuse any assignment that he believes to be intended for illegal or dishonest purposes, or
against the public interest.

8. To be loyal to his colleagues and to his profession ,and to agree to settle professional differences
by arbitration whenever possible.

EVERY TRANSLATOR SHALL HAVE THE RIGHT:

1. To receive the same consideration and the same status as are generally accorded the members of
other professions, including prompt payment for his services.

2. To charge such I professional fees as are commensurate with his experience, degree of specialized
knowledge and quality of work, taking into account such guidelines as may be laid down by his
professional society.
3. To demand working conditions that will enable him to perform his services with efficiency and
dignity.

4. To refuse to quote a fee on a competition basis or without having seen the work to be translated.

5. To seek, by legislation or other means, the same social and fiscal benefits and tax classifications
granted to members of other professions.

6. To enjoy in the case of translations intended for publication or. performance, equitable publicity
of the kind traditionally granted authors of technical, literary, and dramatic works, including mention
of his name on the title page and jacket of the published translation, or in the theater program, and
in the a6vertising of his translation by the publisher or producer.

7. To share, in the case of commercially published or produced works, in the fortunes of his
translation, and in particular to receive a proportional share of the royalties as well as an advance
payment.

8. To insist, in the case of translations intended for publication or performance, that no substantial
changes be made without his consent or, alternatively, that his name be removed as translator or
adapter, without prejudice to the agreed payment.

Employee Rights:

Employees are an asset to the company and any ethical organization would like its employees to be
happy and prosperous by providing them a safe and happy working environment, steady work,
reasonable modifications to work time, and a healthy work-life balance.

Many companies that top the chart when it comes to providing ideal environments to its employees
credit their good employee management and retention programs as the key to their success.

An employee is, at the very least, entitled to the following rights at his workplace −
 No discrimination at work, especially on the basis of gender, nationality, religion, medical
condition, and political affiliation.
 Healthy work-life balance, which means no long hours at work. Employees can also report if
their employer makes unnecessary delays in delegating work.
 Protection of job for people with disabilities and medical conditions.
 Complete protection against sexual harassment of any kind and immunity from being forced
to exchange favors for benefits.
 Freedom to discuss the terms and conditions of the employment with other employees and
negotiating wages to suit lifestyle as per changing times.
 Right to ask for safe working conditions and reservation to answering questions on age,
religion, nationality, and medical condition.
 Demanding certain changes and modifications regarding the working conditions to
accommodate situations that might crop up due to their prevailing medical conditions.
 Right to form or participate a union that aims to improve the wages, lifestyle, working
environment, and emphasizes on employee rights at the workplaces.

Professional Concerns:

We observe rapid changes in the construction: new mega cities, inside and centered around which
are focuses in the country's population. New phenomenon’s: architecture of bioshere, "green
architecture and others. In the mass consciousness emerged the concept of "environmental ethics".
Certainly, the problems of human relationships with nature have always existed, and this attracted a
lot of attention, as evidenced by the presence of various public organizations in different countries
of the world. But in order to social value will be the real mechanism for the behavior of individual
people, needed time and hard work with the population at all stages of human development. The
changed social situation forces people to accept the new values, to establish priorities and attitudes
that would enable them to find his place in different systems of interaction and self-determination.
Moreover, it's very hard for people. In the process of learning in the system of vocational education
formed a professional value system, in which social ideals (values) inevitably will be adjusted in
accordance with the real possibilities and the needs of specific production sites. Professional values,
in turn, a person acquires through the prism of individual interests, views, psychological setting.
Thus, individual values and relationships become personal.

Environmental Ethics:

Environmental ethics is a branch of ethics that studies the relation of human beings and the
environment and how ethics play a role in this. Environmental ethics believe that humans are a part
of society as well as other living creatures, which includes plants and animals. These items are a very
important part of the world and are considered to be a functional part of human life. Thus, it is
essential that every human being respect and honor this and use morals and ethics when dealing
with these creatures.

As per Nature.com, ” Environmental ethics is a branch of applied philosophy that studies the
conceptual foundations of environmental values as well as more concrete issues surrounding
societal attitudes, actions, and policies to protect and sustain biodiversity and ecological systems.”
According to Wikipedia, “Environmental ethics is the part of environmental philosophy which
considers extending the traditional boundaries of ethics from solely including humans to including
the non-human world. It exerts influence on a large range of disciplines including environmental law,
environmental sociology, ecotheology, ecological economics, ecology and environmental
geography.”

Global warming, global climate change, deforestation, pollution, resource degradation, threat of
extinction are few of the issues from which our planet is suffering. Environmental ethics are a key
feature of environmental studies, that establishes relationship between humans and the earth. With
environmental ethics, you can ensure that you are doing your part to keep the environment safe and
protected. Every time that a tree is cut down to make a home or other resources are used we are
using natural resources that are becoming more and more sparse to find. It is essential that you do
your part to keep the environment protected and free from danger. It is not as difficult to do as you
may think so long as you’re willing to make a few simple and easy changes.

With the rapid increase in world’s population, the consumption of natural resources has increased
several times. This has degraded our planet’s ability to provide the services we humans need. The
consumption of resources is going at a faster rate than they can naturally replenish.

Environmental ethics builds on scientific understanding by bringing human values, moral principles,
and improved decision making into conversation with science. It was Earth Day in 1970 that helped
to develop environmental ethics in the US, and soon thereafter the same ethics were developed in
other countries including Canada and North America. This is important because the ethics of the
environment are of major concern these days.
What Causes Environmental Pollution?

The acts of humans lead to environmental pollution. The stronger demand for resources is also a
factor that contributes to the problem as we all need food and shelter. When these things are so
desired and need the natural balance of the environment is disturbed. Engineering developments
are resulting in resource depletion and environmental destruction. There are several environmental
issues that have created havoc on our environment and human life. If ignored today, these ill effects
are sure to curb human existence in the near future.

The major environmental issues include Pollution, Overpopulation, Industrial and Household
Waste, Acid Rain, Climate change, Ozone Layer Depletion, Urban Sprawl, Genetic Engineering,
Deforestation and Global Warming. These environmental issues have taken toll on our environment
and we’ve already started seeing some disastrous effects in the form of effect of health on humans,
rise in sea level, depletion of non-renewable resources, melting of glaciers, extinction of species,
polluted landfills, toxic dust, decreasing soil fertility, rise in air and water pollution and many more.
Human beings are considered to be the most intelligent species living on earth. This could be why it
is the only species on earth which has civilized itself over the decades to a large extent. Today,
human beings boast as being superior to all other animals but what is the use of such great
intelligence when environment ethics are not followed?

Cutting down of trees is something that many humans do for their own benefit, without any concern
for the animals which are dependent on trees for survival. Using fossil fuels erratically,
industrialization, pollution, disturbing ecological balance, all these are attributable to human
activities. Just because we are in possession of all of these natural resources does not mean that we
can use those resources in any manner in which we choose without keeping anything for the future
generations.

Environmental Ethics and Environmental Philosophy:

Environment ethics has produced around environmental philosophy. Many scientists have taken up
the belief of philosophical aspect of environmental hazards thus giving rise to environment ethics.
Currently environment ethics has become the major concern for the mankind.

Industrialization has given way to pollution and ecological imbalance. If an industry is causing such
problem, it is not only the duty of that industry but all the human being to make up for the losses.
But how long an artificial and restored environment will able to sustain? Will it be able to take the
place of the natural resources? Environmentalists are trying to find answers to these difficult
questions and all these together are termed as environment ethics.

It is the responsibility of all to ensure that environmental ethics are being met. It is somewhat
difficult to make adjustments that are necessary to ensure that you are following all environmental
ethics.

Ethics plays an important role in our society today, and environmental ethics and business ethics
must be considered. This has become more prevalent in today’s society.

Both oil and coal are bad, but not only for the environment, but for all living creatures, including
plants and animals. Both are highly toxic in their natural raw state. They pollute the air and ground
and water, and whether or not they are helping to create these natural disasters should be
irrelevant. They are both finite, and will not last forever, and the sooner we rid ourselves of the need
for these two demons, the better. While oil and coal companies continue to promote their products,
and the best yet is clean coal, which is an unethical definition of something that just isn’t possible,
their ethics come into question, especially environmental ethics. Most of the worlds ills are derived
from both of these, with oil spills, mining accidents, fires, and now climate change and global
warming. Ensure that you are doing your part and following all environmental ethics that are out
there.

Computer Ethics:

Computer ethics deals with the procedures, values and practices that govern the process of
consuming computing technology and its related disciplines without damaging or violating the moral
values and beliefs of any individual, organization or entity. Computer ethics is a concept in ethics
that addresses the ethical issues and constraints that arise from the use of computers, and how they
can be mitigated or prevented.

Ethics deals with placing a “value” on acts according to whether they are “good” or “bad”. Every
society has its rules about whether certain acts are ethical or not. These rules have been established
as a result of consensus in society and are often written into laws.

When computers first began to be used in society at large, the absence of ethical standards about
their use and related issues caused some problems. However, as their use became widespread in
every facet of our lives, discussions in computer ethics resulted in some kind of a consensus. Today,
many of these rules have been formulated as laws, either national or international. Computer crimes
and computer fraud are now common terms. There are laws against them, and everyone is
responsible for knowing what constitutes computer crime and computer fraud.

The Ten Commandments of computer ethics have been defined by the Computer Ethics Institute.
Here is our interpretation of them:

1) Do not use a computer to harm other people: If it is unethical to harm people by making a bomb,
for example, it is equally bad to write a program that handles the timing of the bomb. Or, to put it
more simply, if it is bad to steal and destroy other people’s books and notebooks, it is equally bad to
access and destroy their files.

2) Do not interfere with other people's computer work: Computer viruses are small programs that
disrupt other people’s computer work by destroying their files, taking huge amounts of computer
time or memory, or by simply displaying annoying messages. Generating and consciously spreading
computer viruses is unethical.

3) Do not snoop around in other people's files: Reading other people’s e-mail messages is as bad as
opening and reading their letters: This is invading their privacy. Obtaining other people’s non-public
files should be judged the same way as breaking into their rooms and stealing their documents. Text
documents on the Internet may be protected by encryption.

4) Do not use a computer to steal: Using a computer to break into the accounts of a company or a
bank and transferring money should be judged the same way as robbery. It is illegal and there are
strict laws against it.

5) Do not use a computer to bear false witness: The Internet can spread untruth as fast as it can
spread truth. Putting out false "information" to the world is bad. For instance, spreading false
rumors about a person or false propaganda about historical events is wrong.
6) Do not use or copy software for which you have not paid: Software is an intellectual product. In
that way, it is like a book: Obtaining illegal copies of copyrighted software is as bad as photocopying
a copyrighted book. There are laws against both. Information about the copyright owner can be
embedded by a process called watermarking into pictures in the digital format.

7) Do not use other people's computer resources without authorization: Multiuser systems use user
id’s and passwords to enforce their memory and time allocations, and to safeguard information. You
should not try to bypass this authorization system. Hacking a system to break and bypass the
authorization is unethical.

8) Do not appropriate other people's intellectual output: For example, the programs you write for
the projects assigned in this course are your own intellectual output. Copying somebody else’s
program without proper authorization is software piracy and is unethical. Intellectual property is a
form of ownership, and may be protected by copyright laws.

9) Think about the social consequences of the program you write: You have to think about computer
issues in a more general social framework: Can the program you write be used in a way that is
harmful to society? For example, if you are working for an animation house, and are producing
animated films for children, you are responsible for their contents. Do the animations include scenes
that can be harmful to children? In the United States, the Communications Decency Act was an
attempt by lawmakers to ban certain types of content from Internet websites to protect young
children from harmful material. That law was struck down because it violated the free speech
principles in that country's constitution. The discussion, of course, is going on.

10) Use a computer in ways that show consideration and respect: Just like public buses or banks,
people using computer communications systems may find themselves in situations where there is
some form of queuing and you have to wait for your turn and generally be nice to other people in
the environment. The fact that you cannot see the people you are interacting with does not mean
that you can be rude to them.