Ethics is the study of moral values (theory of values) and demands (morality). Without a basic ethical consensus, society and the market economy, organizations and companies cannot function.
A company runs the risk of losing its legitimacy in society if it ignores ethical and moral values.
Corporate ethics analyzes and justifies corporate culture. It is about values and attitudes that regulate actions in order to achieve corporate success (profit, increase in value, market share) in a morally, ecologically and socially responsible manner. The concept of corporate ethics, documented in the mission statement, must take into account the fundamental conflict of goals between the company's success-oriented goals and the orientations of society. The company may have to limit its economic goals such as profit maximization and market dominance, for example, in favor of sustainability requirements.
Corporate ethics requires coordination and communication between all people in the company, also because authorities, traditions and religions can no longer provide a binding ethical basis.
See also:
Corporate culture; corporate mission statement; value orientation; fair trade; corruption; integration of people with disabilities; diversity management; work stress; data protection; fairness; code of conduct; contract culture; honorable businessman; ISO 26000
Reference to QET guidelines:
Q01 Leadership skills; Q04 Employees; Q02 Social skills; Q09 Customers; Q10 Networks; Ethics 20; T01 Guidelines; T02 CI; T05 Contracts; T06 Social Media; T07 Target agreements; T08 Conflict management; T09 Error culture; T10 Suppliers; T17 Mediation