Business ethics are a moral code that people conducting any sort of business should feel honorably obligated to follow. People are definitely morally responsible to follow a code of ethics and should never cheat each other. Parts of this code of ethics should be honesty, integrity, fidelity, charity, responsibility. Those ethics should apply both to a person buying something, and a person selling something. If you are an ethical person, you should not have to warn people to ...view middle of the document...
In a business the ultimate goal is to achieve maximum profits. There are factors affecting at different levels of the business such as finance, technology, labor, and workflow in order to maintain excellence and growth of the company.
Business ethics and social responsibility are closely related. Business ethics is one of the dimensions of social responsibility. The company has to respond to what expect the society even if it is not written in the laws. Many companies have strong sense of ethics because nowadays, it is a way to perform in a globalizing economy. Body Shop is an interesting example of how business ethics could become a strategy. In selecting natural ingredients in their products, Body Shop responds to the demand of its customers for instance. Without being ethical, the company would not have been so successful.
Business ethics is both a personal and a social responsibility. Individuals have to be ethical in life and in business. Also, the company has to provide rules so the entire group rely on the same values. Also, the impact of ethicalness leaves no other choice to the company than being ethical because they have to take into consideration the outside environment.