Describe the basic principles of business ethics and their importance.

Description should include a definition of business ethics and examples of ethical issues related to

  • company reputation
  • stakeholder groups
  • transparency
  • product and facilities safety
  • conflicts of interest
  • quality assurance concerns
  • social media.

Process/Skill Questions:

  • How does ethical behavior affect the image of a business?
  • What values should be reflected in a business code of ethics?
  • Who decides what is ethical in the business world?
  • How is ethical behavior related to employee and consumer safety?
  • What is the difference between ethics and morals? How do they relate?