![]() In order to retain a competitive edge, Company A can also make unreliable and doubtful claims. Company B selling flour markets its product by saying that it can prevent certain types of diabetes. They help find a middle ground between what businesses are legally required to do and staying competitiveĬompany A selling flour markets its product as being 100% natural and farm-to-table.They help a company in conducting moral practices.They help build a healthy and trusting relationship with the community.They protect the public and the environment from mistreatment and exploitation.They ensure that everyone is treated fairly and equally.In these cases, business ethics gives the guiding framework for a company. Whilst many ethical practices have legal guidelines, some of them don’t. These ethics protect the public and the environment from mistreatment and exploitation from corporations.īusiness ethics definition: Business ethics is the study of appropriate models of behaviour for a company, and the integration of societal values in its practices. Topics such as bribery, corruption, social obligations, etc come under the study of business ethics. Ethics are important for every business, they are what steer a company in the right direction, and help it gain moral backing. ![]()
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