Business Ethics And Corporate Social Responsibility Essay

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SOLUTION
Business Ethics
Business ethics are moral principles that guide the way a business behaves. The same principles that determine an individual’s actions also apply to business.
Acting in an ethical way involves distinguishing between “right” and “wrong” and then making the “right” choice. It is relatively easy to identify unethical business practices. For example, companies should not use child labor. They should not unlawfully use copyrighted materials and processes. They should not engage in bribery.
However, it is not always easy to create similar hard-and-fast definitions of good ethical practice. A company must make a competitive return for its shareholders and treat its employees fairly. A company also has wider responsibilities. It should minimize any harm to the environment and work in ways that do not damage the communities in which it operates. This is known as corporate social responsibility.
A code of conduct is a set of organizational rules or standards regarding organizational values, beliefs, and ethics, as well as matters of legal compliance that govern the conduct of the organization and its members.
Codes of Behavior
The law is the key starting point for any business. Most leading businesses also have their own statement of Business Principles which set out their core values and standards. In Anglo American’s case, this is called “Good Citizenship”.
A business should also follow relevant codes of practice that cover its sector. Many companies have
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