Explain the various elements of business ethics.

The various elements of business ethics are following

• Top management commitment - The CEO and other higher-level manager needs to be openly and strongly committed to business misconduct, the top management plays an important role in the entire organisation to follow ethical business practices

• Publication of a code- Organisations need to define the code of conduct which will include quality standard, fundamental safety and adherence to the law, product quality and standards, law which govern production health and safety standard for the employees.

Establishment of compliance mechanism: Suitable compliance mechanises needs to be should be established in the organisation to ensure that actual decision and firm action company with the ethical standard of the firm, there need to be policies related to different activities like hiring, auditing etc.

● Involving employees at all level: employees need to be involved at all level of the business programme. A small group of employees can be formed to discuss the important ethical issue and examine the attitude of the employee toward it.

● Measuring results: Results of ethical policies must be audited and monitored and further course of action can be taken to bring improvement.