Businesses that care for their teams according to the highest ethical standards are often attractive to job seekers. A company's ethics also help it attract quality team members. This maintains the company's respect among its peers and customers and protects it from legal liability. Related: Business Ethics: Definition and 11 Workplace Examples Why is business ethics important?īusiness ethics ensure that companies operate according to all applicable laws.
Whenever any ethical dilemmas or controversies arise, a business references these foundational principles to help resolve those situations. These principles govern every aspect of the company's operations, including its interaction with the government and other businesses, its treatment of its employees and its relationship with its customers. The term business ethics refers to the set of moral principles that guides a company's conduct.
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