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About this document
- Pages
- 2 pages
- Price
- $2 one-time, yours to keep
- Membership
- Included in every plan
- Format
- Subject
- Business Ethics, Business Management, Law
- Module
- BUS 210
This document outlines a code of ethics for a fictional business, Woodward Incorporated. It covers principles of fair business conduct, legal compliance, and ethical treatment of employees and customers. It is an example for a Business Ethics course.
What's inside
- Introduction to the code of ethics
- Principles of fair and ethical business conduct
- Compliance with national and international laws
- Equal treatment of employees and customers
- Financial profitability and competitive pricing
Who it is for: Students taking a Business Ethics course. (Undergraduate)
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Summary
Business ethics are the rules and principles that guide a company's behaviour. Students see how a company can set out its own code of ethics, and what it might include.
Company's Beliefs
A company's code of ethics starts with its beliefs. These are the values that guide the company's behaviour. The company says what it believes in. It says what it will do to follow these beliefs.
Fair and Ethical Business
The company explains how it will do business fairly and ethically. It says how it will treat customers, suppliers, distributors, manufacturers, and stockholders. It says how it will follow laws and avoid harming people.
Equal Treatment
The company says how it will treat its employees and associates. It says it will give equal rights, benefits, and wages. It says it will not use child labour. It says it will not discriminate against people because of their age, sex, or race.
Profitable and Competitive Business
The company explains how it will do business in a way that is profitable for all parties. It says how it will maintain competitive prices and quality products. It says how it will act ethically, responsibly, and legally when mistakes are made.
Key terms
- Code of ethics
- A set of rules and principles that guide a company's behaviour.
- Associates
- People who work for the company or are connected with it.
- Stockholders
- People who own shares in the company.
- Child labour
- Using children to work, especially in a way that is harmful or exploitative.
- Discrimination
- Treating people unfairly because of their age, sex, or race.
- Competitive edge
- An advantage that helps a company to succeed in the market.
Questions this document helps with
- What are the main values that guide a company's behaviour?
- How can a company do business fairly and ethically?
- What laws does a company need to follow in its code of ethics?
Summary written with AI from the document's text.
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