Define corporate ethics. What are the categories of issues on corporate ethics violations?
Ans. Corporate ethics (also known as business ethics) is the broad area dealing with the way in which a company behaves towards, and conducts business with, its internal and external stakeholders, including employees, investors, creditors, customers, and regulators. In certain national systems, minimum standards are required or recommended in order to eliminate potential conflicts of interest or client/employee mistreatment. The range and quantity of business ethical issues reflects the interaction of profit-maximising behaviour with non-economic concerns. Interest in business ethics accelerated dramatically during the 1980s and 1990s, both within major corporations and within academia. For example, today most major corporations promote their commitment to non-economic values under headings such as ethics codes and social responsibility charters. Governments use laws and
regulations to motivate business behaviour in what they perceive to be beneficial directions. Ethics implicitly regulates areas and details of behaviour that lie beyond governmental control.
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