Business Ethics

 A basic guideline to gain public approval

 Different from laws and more effective than laws (voluntarily)
 Based on conscience
 A critical, structured examination of how institutions should behave in the world of commerce
 Can be display in numerous ways: environmental campaigns, pay tax, build school for children,
etc
 Help the company to gain trust from customers and  increase the sales of products so that
businesses can have more profit.

Business ethics are meant to ensure

 a certain level of trust between consumers and corporations
 guaranteeing the public fair and equal treatment
 concerns regarding the environment, social causes, and corporate responsibility

History of business ethics

 appeared the first time in 1960s and became more aware of a rising consumer-based society

 The increased focus on so-called social issues was a hallmark of the decade

 Since that time period, the concept of business ethics has evolved.

 a moral code of right and wrong

 it attempts to reconcile what companies must do legally versus maintaining a competitive

advantage over other businesses.

Henry Ford’s quote: A business that makes nothing, but money is a poor
business

 the most meaningful messages that he gave for future generations and the most impactful
to business

 continues to ring true this day.

 Message: being responsible in business is not just the right thing to do but the best thing
to do

 A business has more implications on the society and environment in which it functions.

 Not only the philanthropic activities which matter but also society activities pave the
way for a sustainable development and a better future for generations to come
 Essentially, CSR is the deliberate inclusion of public interest into corporate decision-
making, and the honoring of a triple bottom line: people, planet, profit.

 Conforming to The Ethics will make a successful business