Ethical standard refers to standard principles that encourage the greater values of trust, fairness and benevolence. Ethical standards may refer to responsibilities for some professionals.
Ethical standards vary based on industry and a person's own moral compass. Different industries have ethical standards that determine how a person must act in order to be respected within the field. Those who work in medical and financial fields often have more strict ethical standards and guidelines than other professionals.
Most people also have their own set of ethical standards that refers to how they are comfortable in acting in everyday life. It also reflects their belief system that drives many of their actions and overall attitude in circumstances.