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GCSE Business · key term
The moral principles concerning fairness, honesty and right or wrong that guide business decisions.
Used by Edexcel and OCR
Specification 2.1.4 · Paper 2
Revise: Ethics and the EnvironmentBusiness ethics concerns what is fair, honest and morally right in business decisions. A business affects more than its owners: employees depend on its working conditions, customers rely on its honesty, and communities experience the effects of its operations. These people and groups are its stakeholders.
Paper 2
Principles about right and wrong that guide business decisions, including responsibilities beyond minimum legal requirements.
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Business ethics concerns judgements about right and wrong in business decisions. An ethical business considers how its actions affect people, rather than judging every decision only by how much profit it could generate.