Business ethics is the study of proper business policies and practices regarding potentially controversial issues, such as corporate governance , insider trading , bribery, discrimination, corporate social responsibility and fiduciary responsibilities. These may be valid questions, to their respective branches pf philosophy, but are largely irrelevant to evaluating the ethics of a given situation. Business Week has an excellent analysis up on the sorry state of regulation, at least as far as protecting miners is concerned. The first part will address the concept of business ethics, a discussion of citizenship theory and the challenges of globalisation and sustainability. Alex: So you’re talking about corporate social responsibility, CSR as it’s known.
ESMT is a private business school with the right to grant PhDs and is accredited by the German state, AACSB, AMBA, EQUIS, and FIBAA. Business ethics refers to contemporary standards or sets of values that govern the actions and behaviour of an individual in the business organisation. While at a Family Business it is important to know about Business Ethics which is an inquiry of ethics in the field of business. However for some, business has no meaning apart from some profit maximization method.
Hartman’s professional background in law and her teaching experience in business curriculum, combined with DesJardins’ background in philosophy results in a broad language, ideal for this approach and market. A History of Business Ethics , by Richard T. De George (University of Kansas), an important contributor to the field.
Business ethics ensure that a certain required level of trust exists between consumers and various forms of market participants with businesses. Even granting that business ethics is important, many seem to believe that there is no point in studying the subject.
Business ethics can be examined from various perspectives, including the perspective of the employee, the commercial enterprise, and society as a whole. Additionally, the small business person is relatively autonomous in his or her decision making; he or she does not have to answer to a large employee base or a corporate governing board. Think about it. If it were always in one’s interest to be good, there would be no need for ethics.