High-profile accounting scandals and the global financial crisis are examples of companies and industries that did not conform to business ethics.
The rules for ethically correct and wrong behavior in company are referred to as business ethics. However, "legal" and "ethical" are not always identical. Law in part defines behavior. By defining permissible practices outside of the purview of the state, business ethics strengthen the law.
The field includes loyalty, fairness, respect, trustworthiness, and technological ethics. It also includes corporate responsibility, personal responsibility, and social responsibility. It places a strong emphasis on employee retention, brand image, and consumer loyalty.
Engage, talk to, and educate your staff. Utilize effective and educational communication to involve employees as well as other stakeholders, including suppliers, investors, regulators, and customer groups. An ethical culture will be ingrained thanks to effective, consistent, and regular communication and training.
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