when combined all these factors affect a business revenues those who fail to set ethical standards and enforce them are doomed to eventually find themselves alongside enron arthur andersen wells fargo lehman brothers bernie madoff and many others 
types of business ethicsthere are various types of business ethics what mainly makes a business stand out are its corporate social responsibility practices transparency and trustworthiness fairness and technological practices corporate social responsibility csr is the concept of meeting the needs of stakeholders while accounting for the impact meeting those needs has on employees the environment society and the community in which the business operates finances and profits are important but they should be secondary to the welfare of society customers and employees in fact studies have concluded that corporate governance and ethical practices increase financial performance 2a greater focus on business ethics is an expense that tends to pay off over time it boosts revenues and limits damaging lawsuits 3it s essential for companies to ensure they are reporting their financial performance in a way that is transparent this not only applies to required financial reports but all reports in general most of these reports outline not only the submitted reports to regulators but how and why decisions were made if goals were met and factors that influenced performance ceos write summaries of the company s annual performance and give their outlooks press releases are another way companies can be transparent events important to investors and customers should be published regardless of whether it is good or bad news the growing use of technology of all forms in business operations inherently comes with a need to ensure the technology and information being gathered is used ethically additionally it should ensure that the technology is secured to the utmost of its ability especially as many businesses store customer information and collect data that those with nefarious intentions can use a workplace should be inclusive diverse and fair for all employees regardless of race religion beliefs age or identity a fair work environment is where everyone can grow be promoted and become successful in their own way 