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Business Ethics: The Basics – SS1110EE (8 Min.)

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1
Business ethics govern a business’s behavior, activities and interactions
2
For something to be considered unethical, it must be illegal.
3
The definition of and application of ethics depends on the personal values of the business owners.
4
Management is ultimately liable for any unethical practice conducted by an executive or employee.
5
If businesses fail to comply with societal norms, they risk ruining brand image, reputation, and credibility.
6
Employees are expected to act responsibly with honesty, diligence, punctuality, and willingness to perform excepted duties.
7
Personal beliefs and biases should not affect decision-making
8
One simple mistake by one employee could tarnish the brand image of a huge entity.
9
Non-compliance with ethics can result in hefty fines and legal actions.
10
If you are asked to do something you think may be unethical, you must do it as part of your job responsibilities..