Ethics of business relations is a system of universal and specific moral requirements and standards of conduct to be implemented in professional activities. It includes:
- Ethical evaluation of internal and external policies of the organization;
- Morality of its members;
- Morale in the organization;
- Rules of business etiquette.
In every company, there is a certain moral system recognized as procedures (norms, values, and knowledge) which are compulsory for all business activities. The core of corporate ethics is formed by the founders of an organization and is directly related to their life experiences and perceptions. The reputation and authority of a head and his/her efficiency are seen as given by employees, and they, in one way or another, begin to imitate him/her. Anyone who decides to become an entrepreneur, in other words, to start a business enters the business world becoming an extraordinary person. Consequently, the qualities of such a person start to be realized and projected onto the newly organized business organization. It happens in the form of human interaction where corporate ethical values are formed.
Ethics is formed by joint efforts in a state, business, labor, and a civil society. Hence, culture is a combination of industrial, social, and spiritual needs of people, or a high level of something: high development or abilities, etc. There are many definitions, but actually, they are reduced to the fact that culture is a concept that integrates various aspects of life, activity, behavior, the communities and society as a whole at a certain stage of development. Culture is included in business ethics since it has two main aspects: values and procedures. Values are ethical ideals of quality as the supreme moral categories. Procedures are officially recorded and unwritten rules of behavior based on these values. As a result, ethics is closely interwoven with culture and refers to the spiritual life of people in the business environment of an organization, their ideological moral conditions, feelings, thinking, and actions.