Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. (standford.edu) This plays a role in many different aspects of a business. Apart from running of the business legally and keeping all of the business’ action legitimate, business ethics plays a role in CSR (Corporate Social Responsibility) which is a very vital component of a corporation. As the Corporate Ethics and Corporate Governance reading shows us business ethics and more important the social responsibility of a business plays a major role in increasing the profits of a business. Not only that but it is a vital component because it helps to please the stakeholders of a corporation. Social responsibility can play a role in pleasing shareholders, consumers but also a role in pleasing external stakeholder such as near communities and the local government. Apart from pleasing the stakeholder business ethic can play a role in marketing too. It can be used as a USP (Unique Selling Point), it can differentiate a corporation from other corporations if they have strong business ethics and are active in their corporate social responsibility role.
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