Code of ethics

Definition

A code of ethics is a set of principles and guidelines that a business adopts to ensure its employees and management conduct business affairs with integrity and responsibility. It serves as a framework for ethical decision-making within the organization.

Related terms

Corporate Social Responsibility (CSR): CSR refers to a company's commitment to manage its social, environmental, and economic effects responsibly, aligning its operations with sustainable development principles.

Ethical Decision Making: Ethical decision making involves choosing actions that are morally right and reflect the values of the organization, even in complex situations where the answer may not be clear-cut.

Stakeholder Engagement: Stakeholder engagement involves businesses actively communicating with and considering the interests of all parties affected by their operations, including employees, customers, suppliers, and the community