Business Ethics are the set of guidelines and policies that talk about a company’s ethics that they are determined to follow in order to avoid fraud, controversy, and bribery.
Business Ethics is a serious subject that concerns the company’s accountability, trust, and transparency. They bring the value and degree of the morality of individuals in an organization. They are based on universal morals, yet they differ from culture to culture. Business ethics discusses the different behaviors that affect business performance, conduct, and reputation.
Good business practices do not just happen. A formal set of ethical guidelines and policies must be established to clearly indicate what is acceptable and what is not within the business environment. By selecting a Code of Conduct (CoC), the company more clearly defines the business ethics and implements the standards according to it.
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