CORPORATE ETHICS AS A TOOL FOR BUSINESS DEVELOPMENT: GLOBAL EXPERIENCE AND UKRAINIAN REALITIES

Abstract

The article is devoted to the analysis of corporate ethics as an important tool for the development of modern business, with an emphasis on world experience and Ukrainian realities. The author explores the historical basis of ethical principles in the field of economic activity. Particular attention is paid to six basic ethical principles: solidarity, efficiency, rationality, justice, refraining from causing harm and role responsibility, which can be adapted to the business environment as a basis for the formation of responsible corporate behavior.An important tool for the formation, support and development of corporate ethics is the code of corporate ethics. Its presence demonstrates the strategic orientation of the business entity to compliance with ethical standards and contributes to the establishment of common values, transparency in activities and clear guidelines for employees. The code performs not only a regulatory function, but also serves as the basis for the formation of a positive ethical climate in the team, strengthens trust between all participants in the business process, contributes to the formation of a transparent and responsible environment, reduces investment risks and increases trust in the business from potential investors.The Code of Corporate Ethics establishes key norms of ethical behavior, covering the prohibition of discrimination, sexual harassment, forced and child labor, ensuring equal opportunities, ethical standards in interaction with partners, media and state institutions. It also regulates the issues of gifts, business hospitality, prevention of bullying and humiliation in the team, and also contains provisions on liability for violation of established norms.Analysis of Ukrainian realities shows a number of ethical challenges: formalization of ethical standards, non-compliance with labor rights, discrimination, low level of moral culture.Effective corporate ethics requires a systematic approach: employee participation in the development of the code of ethics, transparency of its provisions, clear accountability mechanisms and real support from management. Only if the code of ethics is consciously accepted by each employee can it become an effective tool for internal regulation, increasing trust, strengthening the reputation of the business entity, as well as stimulating innovation and sustainable business development in Ukraine.