business-ethics

Vocabulary Word

Definition

'Business-ethics' means the rules that businesses should follow to be fair, honest and right. It is like the guidelines that a company follows to do the right things in the right way.

Examples in Different Contexts

In corporate governance, 'business ethics' refer to the moral principles that guide a company's actions and decisions. A CEO might assert, 'Adhering to high standards of business ethics is fundamental to our company's reputation and long-term success.'

Practice Scenarios

Business

Scenario:

Tomorrow we're meeting our suppliers to discuss procurement procedures; let's ensure there is transparency in our dealings.

Response:

Let's follow the business ethics guidelines we established to ensure transparency and fairness in our interactions with the suppliers.

Impact

Scenario:

In our new development project, we will not only meet legal standards but make a strong positive contribution to the local community.

Response:

Absolutely, business ethics principles dictate that we should do more than just meet legal requirements. We should actively contribute positively to the community.