Code Of Ethics


DEFINITION of 'Code Of Ethics'

A guide of principles designed to help professionals conduct business honestly and with integrity. A code of ethics document may outline the mission and values of the business or organization, how professionals are supposed to approach problems, the ethical principles based on the organization's core values and the standards to which the professional will be held.


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BREAKING DOWN 'Code Of Ethics'

Both businesses and trade organizations typically have some sort of code of ethics that its employees or members are supposed to follow. Breaking the code of ethics can result in termination or dismissal from the organization. A code of ethics is important because it clearly lays our the "rules" for behavior and provides a preemptive warning.

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  3. Why is social responsibility important to a business?

    Social responsibility is important to a business because it demonstrates to both consumers and the media that the company ... Read Full Answer >>
  4. Why are business ethics important?

    Several factors play a role in the success of a company that are beyond the scope of financial statements alone. Organizational ... Read Full Answer >>
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    A number of factors play a part in making a business profitable, including expert management teams, dedicated and productive ... Read Full Answer >>
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