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

Tech

Scenario:

We want our software to be user-friendly, but we must be careful not to compromise privacy.

Response:

Adhering to the principles of business ethics, I'll implement security measures to make sure our software is user-friendly without breaching privacy.

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.