2. Describe how business activities might be affected if no ethical guidelines existed.

You are offered a free trip to visit factories in several other countries if your company uses the services of a particular bank. Do you do it? Each day, people make many financial decisions. These choices of actions may be viewed differently in different countries. In some societies, people expect you to do business with family members. In other places, payments or gifts are expected before you are able to do business. Many financial situations can create ethical concerns. Ethics are principles of right and wrong used to guide personal and business decisions. When considering the ethics of financial situations, three guidelines are commonly used.