1. Meaning:

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1. “Workplace Ethics” relates to how one applies values to work in actual decision making – a set of right and wrong actions that directly impact the workplace.

2. They are an extension of the personal standards or lack of them that is intrinsic in the people who comprise the workplace.

2. Need:

1. Public concerns about ethical practices in business usually relate to issues like – (i) financial scams, fraud and embezzlement, (ii) accepting, or promoting bribes, or (iii) lying or deceptive advertising of products and services, unfair competitive practices, etc.

2. Ensuring the presence of sound values and ethics is a vital and ongoing part of good governance in companies and an integral part of good management practices.

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