What is ethics in business
Ethics in business refers to the moral principles and standards of conduct that guide how organizations and individuals behave in the business world. It involves determining what is right or wrong, fair or unfair, and just or unjust in business practices.
Ethics in business includes a range of principles such as honesty, integrity, trustworthiness, fairness, accountability, and respect for others. It involves making ethical decisions and taking responsibility for the consequences of those decisions.
Ethics in business also encompasses issues such as corporate social responsibility, where organizations consider the impact their actions have on society, the environment, and stakeholders beyond just their shareholders.
Ethical business practices contribute to building a positive reputation and trust with customers, employees, partners, and the community, leading to long-term sustainability and success.