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WordNet-Online
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Definitions from the WebBusiness EthicsDefinitionBusiness ethics refers to the moral principles and standards that guide the behavior and actions of individuals within the context of a business or organizational setting. It encompasses the values, principles, and practices that contribute to the overall ethical conduct within the business world. Senses and UsagesSense 1: Moral Principles in BusinessBusiness ethics, in this sense, refers to the application of ethical principles and moral values to the decision-making and conduct of business professionals. It involves the consideration of fairness, honesty, integrity, and responsibility in all aspects of business operations. Example Sentence: The company's commitment to business ethics is evident through their transparent and ethical decision-making process. Sense 2: Ethical Frameworks in BusinessBusiness ethics, in this sense, pertains to the various frameworks and theories that guide ethical decision-making in the business realm. It includes the study and application of ethical theories such as utilitarianism, deontology, and virtue ethics to resolve ethical dilemmas in business. Example Sentence: As a responsible business leader, it is essential to have a solid understanding of different ethical frameworks to make well-informed decisions based on the highest standards of business ethics. Sense 3: Corporate Social Responsibility (CSR)Business ethics also encompasses the concept of corporate social responsibility. It reflects a company's commitment to consider societal and environmental concerns, beyond financial profit, when making business decisions. It involves stakeholder engagement, sustainable practices, and philanthropic initiatives. Example Sentence: By actively contributing to local communities and implementing environmentally sustainable practices, the company demonstrates its commitment to business ethics and corporate social responsibility. Related Products on Amazon | ||||
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