Business ethics principles pdf

What are business ethics principles?

Business ethics is an evolving topic.
Generally, there are about 12 ethical principles: honesty, fairness, leadership, integrity, compassion, respect, responsibility, loyalty, law-abiding, transparency, and environmental concerns..

What are the 7 ethical principles of business?

(i) Politics without Principles (ii) Wealth without Work (iii) Commerce without Morality (iv) Knowledge without Character (v) Pleasure without Conscience (vi) Science without Humanity (vii) Worship without Sacrifice..

What is ethical business principles?

Ethical principles in business are the moral standards set by a company as a whole and individual employees within an organization.
These principles take into account values, standards, regulations and common industry rules that dictate how people behave in the workplace and how a business operates in the community..

Why do we need principles of business ethics?

Business ethics enhances the law by outlining acceptable behaviors beyond government control.
Corporations establish business ethics to promote integrity among their employees and gain trust from key stakeholders, such as investors and consumers..

Principles of Business Ethics

1. Accountability.
Accountability means businesses taking full responsibility for their actions or practices.
2. Care and respect
3. Honesty
4. Healthy competition
5. Loyalty and respect for commitments
6. Information transparency
7. Respect for the rule of law