What is the definition of a business specification?

A business specification is a business document that contains the code of conduct and standards of a company or organization. These norms usually cover the ethical, legal and professional standards that employees, management and partners should follow in business activities. Business specifications can also include detailed information such as company policies, financial reports and security measures. By formulating and implementing business norms, an enterprise can ensure that all its members can understand and abide by the company's values and conduct business activities in a transparent and honest manner.