Introduction
This requires that companies carry out honest advertising, give customers value for their money, offer after sale services and give a true picture of the sales volume rather than exaggerate or under present their sales volume.
Production Ethics
This requires that firms produce genuine quality products or services. These should be offered in good time. It also requires that the safety of customers is guaranteed when the products are being made. There should also be continuous improvement of the products with a review of methods and ingredients used as well as reviewing their safety from time to time.
Business and Community Relationship Ethics
This involves getting concerned about and participating in community activities and programs. The firm should ensure that it maintains environmental friendly practices to avoid pollution or degradation of the environment (Murphy, 2013). The firm should also respond to the needs of the community around, e.g. by building schools, water projects, hospitals, etc. Through community involvement in the business project, the project eventually achieves a collective success and protection as it is communally owned. Additionally, this communal ownership and involvement also encourage environmental protection efforts through proper disposal of waste materials together with engagement in activities that aims at conserving the natural environment such as planting of trees within the neighboring community.
International Business Ethics
This requires that a firm respects cultural diversity employs internationally accepted business ethics, and updates itself on globalization and global standards. The business should respect the laws and policies outlined in the host country where they are conducting business.
Conclusion
In conclusion, policy and ethical principles require that a business and its stakeholders separate between wrong and right actions and eventually adopt the right choice of action. Unethical modes of conducts are easily identified within a business field and should be exposed to relevant punishment as outlined by the various legislations and business policies. For example, child Labour adoption is prohibited in business activities, unlawful use of materials or processes which are copyrighted together with engagement in bribery and corruption are not acceptable according to government legislation and can be punished through termination of the business license.
References
Murphy, P. E. (2013). Implementing business ethics. Journal of business ethics, 907-915.
Velasquez, M. G. (2015). Business ethics: Concepts and cases (Vol. 111). Upper Saddle River, NJ: Prentice Hall.
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