Ethics in business, often referred to as business ethics, is the application of ethical values and principles within a business context. It involves making decisions based on what is morally right and fair, rather than just focusing on what is profitable or advantageous for the business. Business ethics encompasses a wide range of issues, including corporate governance, insider trading, bribery, discrimination, social responsibility, and fiduciary responsibilities.
A well-regarded definition by Crane and Matten (2016) in their book "Business Ethics: Managing Corporate Citizenship and Sustainability in the Age of Globalization" is as follows:
"Business ethics is the study of business situations, activities, and decisions where issues of right and wrong are addressed."
This definition highlights the importance of ethical decision-making in various aspects of business operations, from how companies interact with stakeholders to how they manage environmental and social impacts. It underscores the idea that ethical considerations are integral to managing corporate citizenship and sustainability, especially in today's globalised economy.
"Join me in shaping a future where ethics and commerce don't just coexist; they synergise for greater success. Let's commit to making ethical marketing a cornerstone of our commercial strategies, enhancing brand loyalty, and building a sustainable future for all." Neil Wilkins
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