Understanding and demonstrating ethical business practices
Many different stakeholder groups have an interest in how organisations operate and behave. By understanding their concerns, businesses can optimise the transparency and robustness of their processes. Where helpful, third party benchmarks and schemes can demonstrate credentials.
Ethical business goes way beyond having appropriate policies. It is about ‘doing the right thing’ as part of business as usual, in relation to issues including:
- Fair pay and labour conditions
- Data protection
- Fair and free competition for contracts
- Payment of tax
- Fair pricing
- Combating fraud and corruption

Why is ethical business important?
Business ethics are important because they define how a company is perceived. A company’s approach can, for example, make the difference between getting on a tender list, or not.
On the flip-side, a perceived ethical breach can result in negative press and social media coverage and also loss of customers and contracts.
The following stakeholders will have a particular interest in business ethics:
- Investors
- Shareholders
- Workers & employees
- Customers
- Suppliers and contractors
- Statutory bodies (e.g. HMRC)
- Community groups
- Non-governmental organisations
Business Ethics - Sustainability Short
Business ethics are central to how we run our organisations. But what do we mean by the term business ethics and what practical steps should we take to address ethics within our business?
Business Ethics
Construction Industry, SMEs and Ethics
Video
Business Ethics
Introduction to Ethical Business
E-learning module
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Ethical Risk Index by Marshalls
Web link
Business Ethics
Anti-Corruption Toolkit for SMEs
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