An organization’s ethical rules and best practices for honesty, integrity, and professionalism are outlined in a code of ethics. Members of a company may face punishment, including termination if they violate the code of ethics.

  • An organization’s ethical rules and best practices for honesty, integrity, and professionalism are outlined in a code of ethics.
  • Members of an organization may go through punishment, including termination if they violate the code of ethics.
  • Specific regulations control company conduct in particular organization, such as finance and banking. In certain cases, a code of ethics may be adopted freely.
  • A compliance-based code of ethics, a value-based code of ethics, and a code of ethics for professionals are the three primary codes of ethics.
  • Companies’ codes of ethics, which outline their commitment to sustainability, now focus on climate change.

The way ethical standards guide a company’s activities is called business ethics. Employer-employee relations, discrimination, environmental issues, bribery, insider trading, and social responsibility are all topics that fall under the banner of business ethics.

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