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What is Business Ethics definition/concept

Business ethics is one of the branches that make up applied ethics. It is about studying certain questions of the moral nature that are found in the business world, for example, the management of the company, the behavior to be followed in the market, the form of organization, the division of labor, etc.

Why is business ethics necessary?

Several experts on the subject emphasize that for a company to be successful, it is essential to develop its activity through a business policy that respects established ethical values.

In this type of company, all its members understand that the execution of their goals cannot disrespect ethics, leading to a feeling of unity and personal identification with the company’s values. In many organizations , its members fall into discouragement or get into internal conflicts by letting go of their moral convictions and trying to achieve certain goals.

On the other hand, acceptable business ethics directly reflects on the image society has of the company.

By adopting a business culture that strives for veracity and transparency, it ends up becoming a competitive advantage over rival companies, creating an environment of credibility and trust that directly translates into customer and employee loyalty.

It is for these and other reasons that it is convenient to develop a solid and long-lasting business ethic.

company relations and business ethics

Establishing a structure on the basis of business ethics is fundamental, for this it is essential to analyze the existing relationships in the company, both internal and external.

Addressing the minimum standards with regard to the relationship with employees, customers, suppliers, competitors, institutions or the environment can be translated as a series of measures that regulate the work of employees, respect for human dignity, compliance with justice , the implementation of an integral development system for the workers, the definition of clear policies in the relationship with customers or suppliers, the encouragement of the relationship of companies that work ethically, the following of certain quality standards and the elaboration of a code linked to the environment.

These and many other points serve as a reference to follow when making decisions in a company that practices business ethics.

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