Final answer:
Ethical standards in a company are more proactive than the law, aimed at preventing harm before it occurs and adhering to moral principles that go beyond legal requirements. The proactive nature of corporate ethics is informed by normative ethical theories that guide moral conduct.
Step-by-step explanation:
In developing ethical standards for your company, you are actively considering the potential harm your company's actions could have on consumers or the organization itself. With regards to the question, 'For your company, ethics is A. Consistent with legal standards B. More proactive than the law C.
Responding to negative consequences of past actions D. A formal statement of legal requirements E. All of the above', the most fitting answer is B.
More proactive than the law.
This is because ethical standards in a business context often go beyond legal requirements by anticipating potentially harmful actions before they occur, rather than simply responding to them.
Ethics involves a commitment to certain moral principles and practices that ensure the well-being of all affected stakeholders, which can include crafting policies that address issues such as privacy, safety, environmental sustainability, and the overall quality of human life, as seen in professional organizations like the IEEE Computer Society.
Furthermore, normative ethics plays a significant role in establishing ethical standards as it helps to define the norms and principles that guide moral conduct within the company.
Normative moral theories such as consequentialism, deontology, and virtue ethics can inform an organization's ethical framework, helping to shape corporate responsibility and the approach to ethical dilemma.