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Ethics

Introduction

1.1 What is ethics?

 Ethics can be defined as the ‘moral principles that govern a person’s behaviour
or the conducting of an activity’. (The Oxford English Dictionary)

1.2 Business ethics

 CSR, sustainability.

 Miss-selling, misleading advertising.

 Mistreatment of staff – e.g. discrimination, unfair dismissal.

 Bribery and corruption, especially of foreign government officials.

1.3 Personal ethics - use CIMA ethical code

 Conceptual framework – principles, threats, safeguards – see below.

1.4 Ethics as a source of risk

 Reputational damage.

 Fines/discipline.

 May affect chances of winning major contracts.

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