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What is Business Ethics?

Business ethics is about going beyond what is legally required by law and is about doing what is morally right. Being an ethical business means operating in a way that is fair to its employees, suppliers, customers, and the environment. This approach can sometimes be counterintuitive for a business as implementing ethical policies can sometimes come at the expense of profits.


Click the > to expand each section below to find out more.

Employees

Treating employees ethically can be achieved by providing them with a safe place to work and by paying them a fair wage. This does not mean just paying the minimum wage but is about paying them a fair wage that properly reimburses them for the work they do and that allows them to live a comfortable life.


Companies can also provide other financial incentives that benefit employees when the business performs well. Such as bonuses or a share scheme where employees receive shares in the company they work for. By owning shares in the company the employee directly benefits from share price increases and dividend payments when the business operating successfully.


One business that always tops the charts for employee satisfaction is Google. Not only do Google pay their employees well but they have a whole host of employee benefits that help create an excellent working environment for employees. Some of the benefits include free food, free medical and dental care, gyms, money towards student loan payments, flexible working hours and excellent communal spaces where employees can relax and socialise. Google does not have to provide these things by law but they do so in an attempt to be more ethical and treat employees well in the hopes of them being happier and more productive at work.


Suppliers

Ethical Sourcing

Paying Taxes

Ethics vs Profits


Have a watch of our explainer video to find out more.


Scroll through our infographic below.


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