Business ethics is a set of norms of behaviour, rules and principles governing relationships that arise in
the process of business communication. Knowing and applying the rules of business ethics enables
business partners to find ways to understand each other and work together more effectively. In short,
business ethics are the rules and norms of official behaviour or the system of ideals on which an
entrepreneur, manager, or any business person relies in order to achieve his or her goals.
Business ethics is based on the moral and ethical principles of human society as well as on legal criteria,
which are established by the legislative acts of the state and necessarily take into account international
rules and principles. To succeed in business, it is important for entrepreneurs to be able to negotiate
correctly with partners, act as a team, skilfully lead their subordinates and work without conflict. Every
businessman or entrepreneur is expected to know at least the basics of business ethics and basic
etiquette.
The adoption of an ethical behaviour strategy by all employees in the organisation will lead to improved
discipline within the company, individual career progression and new appointments within the
organisation and, externally, the company will strengthen its relationships and gain new opportunities.
An individual's knowledge of business ethics plays an important role in the hiring and selection of his or
her persona among all candidates.