employees face. Q What is the difference between business ethics and an ethical business? A Business ethics relates to how any organisation conducts its business in order to make profit or achieve other goals. Any organisation can seek to do business in a way that is guided by ethical values. Whether an organisation is judged to be an ethical business however, may involve a subjective assessment of any of the following: the products and services it offers, its founding priorities, goals and values, its philanthropy, its reputation among its stakeholders, the way it treats customers and staff etc. A If business ethics is about the application of ethical values, CR is the expression of those values both within core business strategies and as a set of commitments and obligations made to its stakeholders. CR is about an organisation's approach to what it is responsible for, to whom it is responsible, and why, and this will be underpinned by its ethical values and by the policies and programmes in place to make those values operational. Q How does business ethics relate to Corporate Social Responsibility (CSR)? A An organisation's core ethical values and standards should underpin everything that it does and the way its employees conduct their everyday business. Business ethics is about "doing things ethically". How an organisation approaches the social and environmental impacts of its business operations and its voluntary contribution to the wellbeing of the global and local communities in which it operates, is often known as Corporate