Business ethics concept

The concept of business ethics began in the 1960s when companies struggled more with a growing consumer-based society that displayed queries regarding social causes, the environment, and corporate responsibility.

This concept has evolved over time and currently goes beyond a simple moral code of good and bad; trying to reconcile what companies must legally do instead of maintaining a competitive advantage over other companies.

Business ethics ensure that there is a certain basic level of trust between consumers and companies, guaranteeing fair and equal treatment to the public.

Business ethics is a type of applied ethics or professional ethics that analyses the ethical and moral principles that are modified in the business world. It encompasses all aspects of business conduct and is relevant to the individual conduct of individuals such as that of organizations as a whole.

The companies that have endorsed all of these principles prepare an identified code of ethics document, which is the ethics of business that brings social balance to the company’s social responsibility. This document consists of a series of principles that guide the entity’s ethical actions.

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So that the code of ethics does not become a mere declaration of intent, it is highly desirable to monitor its application through an ethics committee. This committee will be responsible for disseminating its content among all members of the organization, verifying compliance and holding regular meetings to coordinate activities and review and update its content.