Design: Philippe Starck
Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations.
Sustainable trade implies a trading system that does not harm the environment or deteriorate social conditions while promoting economical growth. Trade is critical to global economic development and it has major implications for ecological sustainability and equity issues. Increased revenues from trade will be necessary to finance sustainable development in most Southern countries.
Business ethics refers to the moral principles and values that guide the behavior of individuals and organizations in the world of business. It involves considering not only financial gain, but also the impact of business activities on employees, customers, suppliers, the environment, and society at large.
Some examples of business ethics include:
- Honesty and integrity – Business should be conducted with honesty and integrity, and in compliance with all applicable laws and regulations.
- Fairness – All stakeholders, including employees, customers, suppliers, and shareholders, should be treated fairly and with respect.
- Responsibility – Companies have a responsibility to act in a socially responsible manner and to consider the impact of their actions on society and the environment.
- Transparency – Companies should be transparent in their business dealings, including financial reporting and communication with stakeholders.
- Trust – Companies should work to establish and maintain trust with their stakeholders, including customers, suppliers, and employees.
- Respect for diversity – Companies should respect diversity and work to create a workplace that is inclusive and free from discrimination.
- Environmental sustainability – Companies should consider the impact of their operations on the environment and take steps to minimize their environmental footprint.
Business ethics are important because they help to build trust and confidence in the business community and society as a whole. By adhering to ethical principles and values, companies can establish themselves as responsible and trustworthy members of society and can contribute to the greater good.