What can we say about the basis of business ethics: moral norms and values? ... In the full sense of the word, business ethics is a set of rules and laws that are based on the generally accepted values. ... The basis of the contemporary business ethics is the social contract or the informal agreement of the company and its external environment on unified norms of behavior and social responsibility of the company, which affect both the participants of the business, and the society in general. ... If a businessperson wants to run business overseas, he/she should learn if this business is legal;...

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(Mondy, 31) Included in the external environment are legal considerations, the labor force, society, unions, shareholders, competition, customers, technology, and the economy. ... Human resources are very important when it comes to hiring and maintaining employees with a high level of ethics and productivity as well as keeping the organization out of legal suits. ... Having a human resource department can keep the business informed on new legal aspects related to employment that may get the company legally in trouble otherwise....

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