Today, every organization looks at how to achieve success and how to be better than its competitors. Every business wants to make the most profit, but unfortunately not all companies still recognize that satisfied and motivated employees are the way to make it all. The conditions of global business have led to the necessity of achieving a competitive advantage and to achieving goals that do not exclusively increase profitability. This paper examines the notion of business ethics and a code of ethics that are clearly a very important business segment of any business. A code of ethics is a set of rules and standards of conduct that a company employee must adhere to, and it is of great importance for business because any business operating ethically will be recognized as a desirable partner to consumers and businesses and be seen as socially responsible. The application of the code of ethics is presented at three companies: OTP banka, Hotel Imperial Rab and AKD-Protection.