Business Ethics or Corporate ethics means set of disciplines, Principals and norms applies to individuals and corporate in the business world. It is well described and defined in the Investorpidea Web site http://www.investopedia.com/terms/b/business-ethics.asp as “A set of Policies and Practices influencing Corporate world such as, inside trading, Bribery, Corporate Governance, Corporate social responsibility…etc. Further this magazine describes that Business ethics province a framework for corporate when they are interacting in business.
In practice there are six ethical values. Those are, Honesty, Integrity, Loyalty, Fairness, Citizenship and Responsibility. This has described i Research paper done by David F. Amkobe, July 7,2017. Each and every business in the corporate world is link to each other in many ways. Not only Customer relationship, one business is link to so many corporate in several stake holder options. Therefore the interaction between each other should be very carefully handled and bind by certain policies. Such policies and practices are well influenced by business ethics. Otherwise corporate will act on their own and will cause so much issues and conflicts between them and there will be a situation each other can not rely on them. This will badly affect the long term relationship. Therefore this concept apply over and above the normal “Profit motive” and address moral issues of two people relationship. This has detailed in depth in business article in https://toughnickel.com/business/Meanings-of-Basic-Business-Ethics-Concepts, very well.
Corporate ethics improve the professionalism among companies and individuals and it has become a very prominent corporate advantage over other businesses as well. However, this plays a major role for the improvement of living standard and betterment of future.
