Business ethics are moral principles that guide the way a business behaves. The same principles that determine an individual”s actions also apply to business.

Acting in an ethical way involves distinguishing between “right” and “wrong” and then making the “right” choice. It is relatively easy to identify unethical business practices. For example, companies should not use child labour. They should not unlawfully use copyrighted materials and processes. They should not engage in bribery.

However, it is not always easy to create similar hard-and-fast definitions of good ethical practice. A company must make a competitive return for its shareholders and treat its employees fairly.  A company also has wider responsibilities. It should minimise any harm to the environment and work in ways that do not damage the communities in which it operates. This is known as corporate social responsibility.

Honesty

You need to be honest in all of your actions, and every communication you make. When people see you making honest decisions, they start to trust your company because you’re not only being truthful, you’re being upfront and candid. People appreciate the fact they can take you at your word, as customers only ever do business with those they trust.

Integrity

Being ethical in business means maintaining a high level of personal integrity. This is how you earn the trust of others, whether they are your customers, team or your superiors. In this definition integrity means having a consistent character that is demonstrated by an alignment of your thoughts, words and action. Sometimes it requires you to have moral courage to do the right thing,

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