Which term refers to the principles, rules, and values used to determine what is right or wrong?

The term that refers to the principles, rules, and values used to determine what is right or wrong is moral philosophy. Moral philosophy encompasses the theoretical foundations of ethics and examines questions about how individuals should act and what constitutes the good life. It involves a systematic approach to understanding moral concepts, dilemmas, and the reasoning that guides human behavior. By analyzing various ethical theories and frameworks, moral philosophy helps individuals and organizations make informed decisions that align with their values and societal norms.

Corporate governance, on the other hand, focuses on the systems and processes that direct and control a company, ensuring accountability and transparency to stakeholders. Business law refers to the legal codes and regulations that govern commercial transactions and business practices, rather than the ethical principles guiding behaviors. Corporate responsibility relates more to the ethical obligations that businesses have to society, including sustainable practices and contributing to social good rather than strictly defining right and wrong.