What is the term for conducting transactions that are considered good and moral in a business context?

The term that refers to conducting transactions that are regarded as good and moral in a business context is business ethics. This concept encompasses the principles and standards that guide behavior in the world of commerce. Business ethics involves considering the impact of business decisions on various stakeholders, including employees, customers, suppliers, and the community at large, and ensuring that these decisions are made in a fair, transparent, and responsible manner.

Business ethics is vital for maintaining trust in the marketplace and fostering a positive corporate reputation, which can have a long-term impact on a company’s success. It involves adherence to laws and regulations but goes beyond mere compliance by integrating values and moral considerations into business practices.

Other terms may refer to different aspects of ethical conduct. Personal ethics relates to an individual's moral principles and values that guide their behavior on a personal level, either in professional or personal settings. Situational ethics refers to the belief that ethical decisions should be made based on the context and circumstances of a situation, rather than fixed laws or rules. Culture encompasses the shared values, beliefs, and practices within an organization or community but is a broader term that does not specifically address ethical transactions within a business context.