Business ethics studies policies regarding controversial topics like corporate governance, insider trading, and discrimination. There are 12 main types of business ethics: transparency, integrity, trustworthiness, loyalty, equality, compassion, respect, excellence, responsibility, accountability, reputation upholding, and lawfulness. These ethics help build trust with stakeholders, foster employee loyalty and motivation, promote non-discrimination and equality, and ensure companies comply with relevant laws.

1. Types of Business Ethics,
Code of Ethics
Presented by
Joel Joseph
Josu Sebastian

2. BUSINESS ETHICS
Business ethics studies appropriate business
policies and practices regarding potentially
controversial subjects, including corporate
governance, insider trading, bribery,
discrimination, corporate social responsibility,
fiduciary responsibilities, and much more.

3. Types of Business Ethics
1. Transparency 7. Respect
2. Integrity 8. Excellence
3. Trustworthiness 9. Responsibility
4. Loyalty 10. Accountability
5. Equality 11. Reputation Upholding
6. Compassion 12. Lawfulness

4. 1. Transparency
Transparency is a key principle that companies strive to embody. This value serves
as the foundation for an organization's relationship with its customers, investors,
workers, and partners. Transparency is being open and honest with stakeholders in a
variety of business situations.
For different stakeholders, transparency implies different things. It might imply
instant access to financial data, pricing levels, and financial reports for an investor.
Customers may expect prompt responses to their questions and feedback.
For workers, transparency may entail open and honest two-way communication as
well as open and honest talks about professional aspirations, workplace concerns,
and performance.

5. 2. Integrity
Integrity is another important corporate value that many companies aim for. When
dealing with challenging situations, business integrity is constantly being genuine
and exhibiting honor and bravery. Integrity is defined as always doing what is
ethically correct, and it can represent strength and admirable character.
When a company acts with integrity, it attempts to bridge the gap between its
actions and its goals. It makes certain that all interactions with stakeholders are
consistent with the company's mission and goals.
Integrity training for executives can be critical to fostering integrity throughout the
organization's ecosystem. A company that maintains its ethics may remain relevant
for the right reasons.

6. 3. Trustworthiness
Building stakeholder trust is a crucial part of corporate development. Trust is one of a
company's most valuable assets, and the degree of trust it has with customers and
workers is directly proportional to its performance. Businesses may use a variety of
strategies to build trust.
Building good products that bring value to customers and being easily accessible for
customer assistance are examples of this. It might also include things like being
professional, allowing for safe buying experiences, and showing client testimonials.
Building trust is a crucial component of a company's long-term success.

7. 4. Loyalty
Another aspect that influences a company's growth is the level of loyalty it exhibits
in its commercial ties. Employee loyalty is a crucial component of this. Building a
strong brand requires a high degree of employee loyalty and trust.
Employee loyalty may be fostered in a variety of ways, including openness, respect,
fair remuneration, and providing a safe and enjoyable environment.
Internal marketing and initiatives to instill employee commitment can also be used
to instill it. Customer loyalty is another key facet of loyalty. Quality products,
marketing, empathy, and consumer openness may all help to foster this.

8. 5. Equality
Many businesses adhere to one of the most essential business ethics: equality.
Individuals must be included without prejudice or favouritism in order to be
considered equal. Promoting equality and non-discrimination in the workplace is a
critical step that businesses may take to create a meaningful environment.
Businesses may encourage workplace equality by implementing recruiting
procedures that evaluate people from all walks of life. Another step toward
achieving equality is to provide equal pay for men and women.
Employees feel more connected and recognised for their abilities and skills in an
organization that fosters equality, regardless of their cultural origins, genders, or
nationalities.

9. 6. Compassion
Many businesses benefit from compassion. When businesses show compassion, they
create an emotional relationship with their customers, allowing them to perform at
their best. Ethical businesses demonstrate real concern, kindness, and compassion
for the well-being of others.
When compassion is a core corporate value, the goal is to achieve commercial
objectives while inflicting the least amount of harm. Every business choice is made
with the impact on people and communities in mind.
Compassion at work is showing real concern, respect, and care for colleagues, as
well as reacting to their personal and professional needs.

10. 7. Respect
Many great businesses are built on the foundation of respect. Customers will esteem
businesses that are more honest and straightforward about their services and goods.
Responding to consumer questions and issues in a timely manner demonstrates real
respect and care.
Businesses may develop respect in the workplace by being aware of each employee's
requirements and exhibiting transparency and open communication. When people are
valued, they are motivated to give their all at work.
It takes a long time and a lot of effort to win the confidence of stakeholders and
consumers, and it takes much more effort to keep it.

11. 8. Excellence
Creating an excellent culture is a superb example of corporate ethics. Continuously
putting out effort to outsmart competition and a desire to give only the best results
can help to the company's long-term success.
Employee satisfaction and motivation may be maintained through engaging with
them for comments and concerns, as well as open communication about personal
and professional goals. It is critical to have a happy, inspired, and motivated
workforce in order for businesses long-term success.

12. 9. Responsibilty
Companies that adhere to high ethical standards are aware of their obligations to
stakeholders, workers, and consumers. They are aware of the consequences of their
conduct. These businesses strive to do business in accordance with their goal and
vision.
They make reasonable and realistic judgments that are in the long run beneficial to
everyone. Companies are aware of their moral commitments and responsibilities to
others and make every effort to fulfil them.
Promoting a culture of responsibility in the workplace may be as simple as
encouraging a sense of ownership for one's function.

13. 10. Accountability
Promoting an accountability culture in the workplace may help businesses get the
most out of each person. When employees perform to their full potential, the
organization is able to provide superior outcomes to its clients.
Setting clear expectations and allowing workers to define their own roles and duties
might be a smart place to start when it comes to developing an accountability
culture.
Align everyday duties with development and learning opportunities to help
employees advance and gain a deeper understanding of their work.

14. 11. Reputation Upholding
While it is critical for every organization to establish a positive reputation in the
market, it is even more critical to maintain that reputation. Maintaining one's
reputation requires a lot of time and work, and it's a key factor on which firms
should concentrate.
Building an exciting work culture, keeping investors interested, and upholding the
quality of products and services to consumers are all important aspects of
maintaining a favourable reputation.
A firm can conduct its operations in a positive manner while also ensuring that
business choices or actions do not harm the company's reputation.

15. 12. Lawfulness
An ethical business makes ongoing efforts to comply with all legal requirements and
duties that are necessary for business continuation. Taxes, employment and labour
legislation, and workplace safety are examples of these commitments. When a
corporation operates within the confines of the law, it gains confidence and
credibility.
This may also assist a firm establish a strong favourable reputation, which can aid in
the development of positive connections with consumers and other stakeholders.
Maintaining legal compliance maintains a company in good standing and allows it
to concentrate on its principal objectives.