Final answer:
Ethical relationships in business are based on trust and cooperation. A well-developed corporate code of ethics is important in building those relationships.
Step-by-step explanation:
The president of the Hummer Corporation realizes that ethical relationships are based on trust and cooperation. A well-developed corporate code of ethics is an important component of building that trust and cooperation. It provides guidelines for employees on how to behave ethically, and it ensures that the company is committed to ethical practices.