What is the Real Purpose of Business Ethics?

[Suba]

Business ethics refers to the behavioral, moral, and activity benchmarks that businesses employ to interact with customers, suppliers, and other parties, while also respecting the environment. Business ethics encompasses more than just good deeds; it also encompasses social responsibility, honesty, integrity, and fairness in conducting business operations.

If businesspeople implement business ethics properly and correctly, what is the purpose of implementing business ethics?

 

[Fidelia]

The main purpose of business ethics is to ensure the businesses act in a humane way in their relationship with other businesses and customers/clients.

 

[Kross]

The business world is already a "dog eat dog" world. Business ethics come in to tame that tendency and foster competition that is fair and not extreme.

 

[Augusta]

The objectives of business ethics are to promote fairness, accountability, and transparency in business operations.

 

[eLdavis]

The real purpose of business ethics is to guide decision making in the organization, to be able to build trust between the organization and it's customers.