As they apply to business conduct and business decisions, ethical principles: 1. deal chiefly with the behaviors that a company's board of directors expects of all company personnel in both their conduct on the job and their conduct off the job. 2. involve the rules a company's top management and board of directors make about what is right and what is wrong. deal chiefly with a company's standards about what is right and wrong insofar as the conduct of its business is concerned and about what behaviors are expected of company personnel. 3. are not materially different from ethical principles in general. 4. are generally less stringent than the ethical principles for society at large because it is well understood that businesses should not be expected to operate any differently from what the law requires of them.