Role of ethics in business? 250-300 words

Dear Student, Business ethics refers to the set of moral values or standards or norms which govern the activities of a businessman. Ethics define what is right and what is wrong. It involves critical analysis of human acts to determine whether these are right or wrong. Basic elements of business ethics are- 1. Top managerial commitment. 2. Publication of a code. 3.Establishment of a compliance mechanism. 4. Involving employees at all levels. 5. Measuring results. Role of ethics in business is:- Ethics is considered as a very important factor for business. But business does not follow it because of its negligence. Every business and every citizen must follow the ethics. It helped business lot to easily lead the life and societal environment.Any business or individual who did not follow ethical values will not be successful for long time. Business have to do best for their product which the consumer will uses. Because they are having a rule to how to make a good product for their consumers. So that consumer will buy a particular product. Ethics means principal. Through the help of it, Business creates a branding for person and also creating a brand for business which is responsible for its growth and long term survival.If a person has ethics in business it increases trust and respect in the customer's mind and others also. Examples of business ethics are:- 1)Providing Services to customers as advertised & promised. 2)Real Representation of financial statements. Regards!