Business and Corporate Ethics

Business and corporate ethics play a vital role in shaping the moral foundation and professional conduct within any organization. Ethics is a social science that deals with social values and moral principles guiding decent human behaviour in both personal and professional settings.

Business Ethics—which is sometimes referred to as a Business Code of Ethics—represents the professional standards that govern ethical values and issues arising in a business environment. It applies to all aspects of business behaviour, influencing the actions of both individuals and organizations as a whole.

Business and corporate ethics ensure that companies establish proper business policies and practices concerning critical issues such as corporate governance, bribery, insider trading, corporate social responsibility, biases, and fiduciary duties.

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A responsible business must operate under ethical principles—providing quality goods and services at fair prices, avoiding unfair practices, and refraining from misleading advertisements. Within the workplace, strong business ethics create a culture of respect and fairness by upholding a clear Business Code of Ethics, protecting both employee rights and organizational integrity.

This unit comprehensively defines business and corporate ethics, explaining the key steps of value identification and the importance of developing a structured Business Code of Ethics. It also explores Kohlberg’s six stages (or three levels) of moral development and provides an overview of ethical models that support integrity in corporate decision-making.

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