Business ethics is the set of principles and rules that govern the behavior of a company in its commercial sector. It is closely related to morality, as it distinguishes between right and wrong, and is based on ideals and values.
A company’s ethics have a very broad scope. For example, in terms of its commitment to the care and conservation of the environment, considering that business activities should not have a negative impact on it and ensuring that its production models are managed with corporate responsibility to cause the least possible damage to nature.
Likewise, business ethics is focused on avoiding unfair competition in the economic sector where it performs its activities, although there is always this competitive factor, when acting with moral commitment it is guaranteed to avoid those behaviors that may be detrimental to the harmony between businesses in the same line of business.
Another example of the scope of business ethics is to ensure the production and marketing of articles of proven quality.
This is especially important, since the users or customers of products and services acquire them with the intention that they can solve their particular problems or needs, hence the importance of complying with certain standards and delivering what is really offered to them.
When a company engages in misleading advertising with the purpose of selling or marketing products and services whose characteristics or qualities are not real, it is acting against business ethics.
Finally, it is worth mentioning that business ethics must be present at all levels, from managers and owners of a corporation to its employees, including each department and service that conforms the business.
In this sense, it is of vital importance to ensure that positive values are transmitted so that work is carried out in a respectful and harmonious manner, far beyond production or sales rates.