insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities. The law often guides business ethics, but at other times business ethics provide a basic guideline that businesses can choose to follow to gain public approval.
KEY TAKEAWAYS
Business ethics refers to implementing appropriate business policies and practices with regard to arguably controversial subjects.
Some issues that come up in a discussion of ethics include corporate governance, insider trading, bribery, discrimination, social responsibility, and fiduciary responsibilities.
The law usually sets the tone for business ethics, providing a basic guideline that businesses can choose to follow to gain public approval.
Understanding Business Ethics
Business ethics ensure that a certain basic level of trust exists between consumers and various forms of market participants with businesses. For example, a portfolio manager must give the same consideration to the portfolios of family members and small individual investors.
Books
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Law
Business ethics laws and regulations dictate a standard of conduct that represents going beyond doing the legally right thing to acting morally right.