What does business ethics refer to?

Business ethics encompasses the values and principles that guide behavior in the business environment. It refers to the moral implications of business decisions, encompassing a broader scope than merely adhering to laws or pursuing profit. It involves understanding what is considered right and wrong in business practices, fostering a culture of integrity, and ensuring that actions taken are not only legally compliant but also align with ethical standards and societal expectations. This approach emphasizes the importance of ethical conduct in all business dealings, influencing everything from corporate governance to employee relationships and customer interactions. By focusing on values and principles, businesses can build trust, enhance their reputation, and contribute positively to society, all while maintaining their operational success.