Final answer:
Operational audit is the study of business operations aimed at making recommendations for resource efficiency, goal achievement, and policy compliance.
Step-by-step explanation:
The blank in the student's question should be filled with "operational audit," which refers to the study of business operations for the purpose of making recommendations about the efficient and effective use of resources, effective achievements of business objectives, and compliance with company policies. Operational audits are crucial for businesses to ensure they are not only abiding by laws and regulations but also operating as efficiently as possible. The development of a code of ethics is often a response by businesses to address matters such as bribery, discrimination, and whistleblowing, as well as to establish guidelines for environmental and social goals, and for building and maintaining trust and goodwill.