Business ethics refers to moral principles and social values that business should adopt in its code of conduct. These are rules that businesses must accept and follow in its day to day operations for the welfare of society and all its stakeholders. Business is termed as a social organ, and therefore it should not indulge in any activity that is harmful to the interest of all its stakeholders. It should not only focus on objectives like profit maximization, higher growth but should work for the upliftment of its surroundings also. These ethics help the business in deciding what is right and what is wrong for the business taking into account its circumstances. Business ethics helps the business to maintain better and harmonious relations with society, customers, employees, and the concerned industry sector. Ethics adopted by the business should be followed strictly by each and every person working with the business. There should be a reward-punishment system linked with business ethics for those violating these ethics and one who properly abide by these ethics. Business ethics have an important role in raising the profitability and productivity of a business and improves its goodwill in the market. Importance of Business EthicsImportance of Business Ethics
Types of Business Ethics
Functions of Business Ethics
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