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Business ethics refers to the moral principles, values, standards and rules that guide the behaviour of a business organization and its employees in dealing with customers, employees, suppliers, competitors, government and society. It determines what is considered right or wrong, fair or unfair, honest or dishonest in business activities. Business ethics requires organizations to conduct their operations with integrity, fairness, transparency, responsibility and respect for the interests of all stakeholders. It goes beyond merely following laws because an action may be legally permissible but still be considered unethical. In retailing, business ethics is particularly important because retailers have direct and frequent contact with consumers and influence their purchasing decisions. Retailing involves activities such as purchasing merchandise, pricing, advertising, displaying products, selling goods, handling customer information, managing employees, dealing with suppliers and providing after-sales services. Each of these activities creates ethical responsibilities. Ethical retailing means conducting these activities in a manner that protects consumer interests, treats employees and suppliers fairly, provides accurate information and contributes positively to society. One important ethical dimension of retailing is honesty and truthfulness in advertising and promotion. Retailers use advertisements, discounts, sales promotions, product displays and digital marketing to attract customers. Ethical advertising should provide accurate and complete information about products, prices, quality, availability and promotional conditions. Retailers should not make false or ___ ___ ______ ______ ____ _______.
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