Image of Employees giving educational materials, to communities. By Edward Matulanya  Learn how companies like Patagonia, LEGO, and Unilever implement CSR, measure impact, and promote ethical business practices to create long-term social, environmental, and economic value. 1. Meaning of Business Ethics Business ethics refers to the study and application of moral principles, standards, and values in business decision-making and operations (Ferrell, Fraedrich, & Ferrell, 2021; Velasquez, 2017). It provides a framework for organizations to balance profitability with fairness, integrity, and social responsibility. Ethical practices influence all aspects of a business, including relationships with employees, customers, suppliers, investors, and the broader community. In practice, business ethics addresses critical questions about organizational conduct. These include whether profit should take precedence over social welfare, how employees and customers can be treated fairly, and wha...