Social responsibility

Question 1

Define code of ethics

Answer 1

formal written document that sets out rules for employees and managers to follow when making decisions.
Correct way to behave and right thing to do in situations

Question 2

Benefits od a code of ethics

Answer 2

-Consumers like businesses that introduce COE (improved reputation +improved sales)
-Shows employees standards expected of them (less harm to business)
-Helps employees fully understand that expectations of the business for them (prevent inadvertent mistakes)
-Encourages employees to act appropriately (less theft and fraud in business)