This paper examines the relationship between values and ethics in a professional context, arguing that while the two terms are often used interchangeably, they represent distinct concepts. Values are defined as the internal parameters — good or bad — by which individuals make choices, while ethics represent an externally agreed-upon system promoting integrity and societal benefit. The paper discusses the sources of individual values, including education and work environment, and illustrates how ethical and unethical choices produce different short- and long-term consequences through examples such as price fixing and whistleblowing. It concludes that developing and maintaining professional ethics is a lifelong process.
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Values and ethics are two terms that are used quite often in the professional world, frequently interchangeably. A better and more differentiated understanding of these often abstracted concepts, however, allows for a much more effective and dynamic comprehension of how they affect — and are affected by — the choices made by an individual. All choices are truly values-based; the choices that an individual makes and their end results reflect the values of that individual.
Though the same description could be applied to an understanding of ethics, in a professional context professional ethics are best understood as the set or sets of values that inspire or require choices based on "good" values — those that promote choices and behavior that are not only legal, but that respect the spirit of fair play and show proper consideration for all entities involved in and affected by each choice made. To put these definitions succinctly, values are the parameters, good or bad, by which an individual makes choices, and ethics are the externally agreed-upon system of values that promotes integrity and general societal benefit.
There are many different factors and sources for a given individual's specific set of values. Integrity is learned early in life, and the environment of one's education — especially at the university and graduate level — can be hugely determinative in the development of an individual's values and ethics. The work environment, too, is a major influence on values. In companies and industries where integrity, honesty, and the restraint of greed are all demanded and given proper respect and reward, these values will be encouraged and developed in others entering the company or field. In other circumstances, where reward is given for any behavior that turns a profit no matter how unscrupulous, such values might not even be tolerated. Ultimately, values are internally derived and require dedication to personal principles.
"Price fixing and whistleblowing as contrasting case examples"
"Ethics as a continuous lifelong professional commitment"
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