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What is the difference between business ethics and an ethical business?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

Hi I am preparing for CA Intermediate | CA IPCC exam. I want to know about ethics. Can I know, What is the difference between business ethics and an ethical business?

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3 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Whether an organisation is judged to be ethical however, will involve a subjective assessment of any of the following: the products and services it offers, its founding priorities, goals and values, its philanthropy, its reputation among its stakeholders, the way it treats customers and staff etc.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Dear friend, Business ethics relates to how any organisation conducts its business in order to make profit or achieve other goals. Any organisation can seek to do what it does in a way that is guided by ethical values. Whether an organisation is judged to be ethical however, will involve a subjective assessment of any of the following: the products and services it offers, its founding priorities, goals and values, its philanthropy, its reputation among its stakeholders, the way it treats customers and staff etc. Rather than claiming to be ‘ethical’, the IBE would suggest that a business or other organisation demonstrates that it ‘takes ethics seriously’.

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Open uri20170510 32134 1uwcnoc?1494421631 answered

Business ethics relates to how any organisation conducts its business in order to make profit or achieve other goals. Any organisation can seek to do what it does in a way that is guided by ethical values. Whether an organisation is judged to be ethical however, will involve a subjective assessment of any of the following: the products and services it offers, its founding priorities, goals and values, its philanthropy, its reputation among its stakeholders, the way it treats customers and staff etc. Rather than claiming to be ‘ethical’, the IBE would suggest that a business or other organisation demonstrates that it ‘takes ethics seriously’.

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