We, the members of the Value Innovation Partners, Ltd. in recognition of the importance of our methodologies which effect the quality of life in the business world, and in accepting a personal obligation to our profession, its members and the business communities we serve, do hereby commit ourselves to the highest ethical and professional conduct and do further agree to:
The term "ethics" is used in several different ways. It means "the study of morals". It is also the name for that branch of philosophy concerned with the nature of morals and moral evaluation (what is right and wrong, virtuous or vicious, and beneficial or harmful "to others"). The term ethics or morality is used to mean the standards for ethical or moral behavior of a particular group, such as "Buddhist ethics" or "Nursing ethics" or "Roman Catholic morality".
To give a description of such ethical codes and standards is descriptive ethics. Descriptive ethics does not require making a judgment as to whether the code or standards of behavior have ethical justification. Examination of the adequacy of moral or ethical values, standards, or judgments is normative ethics. Some authors even use the term "ethics" or "morality" more loosely to mean any code of behavior, even one that does not claim to have moral justification.
It may be important to examine such codes of behavior and see how they affect the opportunities for moral action, but not every code of behavior has, or is even claimed to have moral/ethical justification. The term "moral" tends to be used for more practical elements, such as "moral problems" and "moral beliefs", and "ethical" tends to be used for more abstract and theoretical elements, such as "ethical principle", but the distinction is by no means hard and fast.