Final answer:
A code of ethics is a formal statement that acts as a guide for the ethics of how people within a particular organization should act and make decisions. It outlines what actions are and are not permissible and addresses concrete matters such as bribery, discrimination, and whistleblowing.
Step-by-step explanation:
A code of ethics is a formal statement that acts as a guide for the ethics of how people within a particular organization should act and make decisions. It outlines what actions are and are not permissible, addressing concrete matters such as bribery, discrimination, and whistleblowing. Businesses often create a code of ethics to ensure compliance with laws and regulations and to reflect the values of society.