Business Ethics
Business ethics is about running companies fairly, treating workers well and protecting the environment while still earning profit.
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Business ethics is about running companies fairly, treating workers well and protecting the environment while still earning profit.
- Avoid exploiting workers
- Reduce pollution
- Be honest in advertising
🧠 Quick quiz
Three questions. Score 2 or more to complete the topic.
What is Business Ethics?
Within Economics & Civics, which covers money, markets, business, government, law and citizenship: how societies are organised and run, this topic explains Business Ethics. Economics and civics topics explain how money, markets, laws and government affect people, so each topic here pairs a clear definition with a model.
Check that you can explain Business Ethics in your own words and give one example from everyday life. If you can do that, you have understood the core idea.
Understanding Business Ethics helps you read the news critically and weigh up policies, choices and arguments about society.
Business Ethics in detail
Business ethics are the moral principles that guide how companies behave. Ethical issues include treatment of workers (fair pay, safe conditions, no child labour), honest advertising, environmental impact, fair treatment of suppliers, avoiding bribery and corruption, tax practices and protecting customer data.
Corporate social responsibility (CSR) is when businesses consider their effects on society and the environment as well as profit. Ethical behaviour can build trust, loyalty and reputation, and attract employees, though it may raise costs. Consumers, the media, investors and laws pressure companies, and examples include sweatshop scandals and greenwashing.
How the interactive helps you understand Business Ethics
Click a card to flip it and reveal the answer, then move on to the next one.
Before you change anything, predict the result. Then change one value at a time and check whether your prediction was right. This is a quick way to build a correct mental model of Business Ethics.
Real-life uses and examples
- Use Business Ethics to weigh up the pros and costs of a policy or decision.
- Explain Business Ethics to a classmate using a choice you make yourself, such as spending pocket money.
- Give a balanced answer about Business Ethics by considering more than one point of view.
Common mistakes to avoid
- Confusing a short-term effect with a long-term one.
- Giving an opinion without evidence or a clear economic or civic reason.
- Learning the definition without testing it. Use the quiz and the interactive to check that you can apply the idea.
Frequently asked questions about Business Ethics
What is Business Ethics?
Business ethics is about running companies fairly, treating workers well and protecting the environment while still earning profit.
What are the most important points about Business Ethics?
The main points are: Avoid exploiting workers; Reduce pollution; Be honest in advertising.
Why is Business Ethics useful?
Understanding Business Ethics helps you read the news critically and weigh up policies, choices and arguments about society.
How can I practise Business Ethics?
Open the interactive at the top of this page and change the controls one at a time. Predict the result before each change, then take the three-question quiz. A score of two or more marks the topic as complete on this device.
Which topics are related to Business Ethics?
Related topics in Economics & Civics include Pensions and Retirement, Advertising and Consumer Choices, The Gig Economy.