Business ethics concerns ethical dilemmas or controversial issues faced by a company. Often, business ethics involve a system of practices and procedures that help build trust with the consumer. On one level, some business ethics are embedded in the law, such as
- Minimum wage
- Insider trading restrictions
- Environmental regulations
- Corporate governance
- Insider trading, bribery
- Corporate social responsibility
- Fiduciary responsibilities
On the other hand, business ethics can be influenced by management behaviour, with wide-ranging effects across the company.
These are the aspects of business that are governed by law, in regards to minimum standards. Other times business ethics provide a basic guideline that businesses can choose to follow to gain public approval.