Final answer:
Businesses routinely follow ethical standards in a code of ethics to ensure compliance with laws and regulations and to uphold societal values.
Step-by-step explanation:
Businesses are required to follow laws and regulations, but they routinely follow ethical standards in a code of ethics.
Codes of ethics outline what actions are and are not permissible for a business and its employees, addressing matters such as bribery, discrimination, and environmental goals. These codes ensure that businesses act in accordance with societal values and build trust and goodwill.
Furthermore, professional organizations within specific industries, such as nursing and teaching, also issue codes of ethics that their members must abide by.