What relevance do ethics have to business?
Ethical values play an increasingly important role in business today. Firstly, companies do not operate in a vacuum, but are part of a society which expects a certain standard of behaviour from businesses. According to Ipsos MORI research in September 2006, 83% of the British public say that a company’s social responsibility is an important factor when deciding which product or service to purchase. At the same time, 67% believe that industry and commerce do not pay enough attention to their social responsibilities. Companies require what is often called ‘a license to operate’. In other words, they need the approval of society in order to continue doing business. People expect companies to look after their staff and tell customers the truth. They also increasingly expect companies to address their environmental impacts and make sure that the people who make their products are treated fairly, wherever the company operates. Secondly, ethical values are relevant in providing guidance to st
