Simultaneously, it entails conducting business operations based on ethical principles to fulfill economic, legal, and social responsibilities and comply with ethical standards.
Code of Ethics of a company is not merely a tool to control corruption among employees or a passing trend in management innovation.
Correcting improper practices and cost structures within a company to align with ethical standards is a management activity aimed at enhancing
the company’s competitiveness and creating new economic value.
Ultimately, ethical management of a company aims to maximize profits and contribute to society through the profits generated in this manner.