Business Ethics refers to the principles and standards that guide behavior in the world of business. It encompasses the moral values and norms that govern the actions and decisions of individuals and organizations in a commercial context. Business ethics addresses a wide range of issues, including corporate governance, insider trading, bribery, discrimination, and fiduciary responsibilities. It is concerned with what is considered right and wrong in the business environment, promoting integrity, transparency, and accountability. Business ethics is important for building trust with stakeholders, including customers, employees, investors, and the wider community, and is essential for the long-term success and sustainability of organizations. The field of business ethics also involves the analysis of ethical dilemmas and the application of ethical theories to real-world situations, aiming to foster ethical decision-making in corporate practices.
The court case involving businessman Luis Medina in Madrid highlights the ethical implications of withheld commission disclosures on pandemic-related sanitary supplies. Medina's admission raises questions about the blurred lines between…