business ethics


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business ethics,

the study and evaluation of decision making by businesses according to moral concepts and judgments. Ethical questions range from practical, narrowly defined issues, such as a company's obligation to be honest with its customers, to broader social and philosophical questions, such as a company's responsibility to preserve the environment and protect employee rights. Many ethical conflicts develop from conflicts between the differing interests of company owners and their workers, customers, and surrounding community. Managers must balance the ideal against the practical—the need to produce a reasonable profit for the company's shareholders with honesty in business practices, safety in the workplace, and larger environmental and social issues. Ethical issues in business have become more complicated because of the global and diversified nature of many large corporations and because of the complexity of government regulations that define the limits of criminal behavior. For example, multinational corporations operate in countries where bribery, sexual harassment, racial discrimination, and lack of concern for the environment are neither illegal nor unethical or unusual. The company must decide whether to adhere to constant ethical principles or to adjust to the local rules to maximize profits. As the costs of corporate and white-collar crime can be high, both for society and individual businesses, many business and trade associations have established ethical codes for companies, managers, and employees. Government efforts to encourage companies to adhere to ethical standards include President ClintonClinton, Bill
(William Jefferson Clinton), 1946–, 42d President of the United States (1993–2001), b. Hope, Ark. His father died before he was born, and he was originally named William Jefferson Blythe 4th, but after his mother remarried, he assumed the surname of his
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's Model Business Principles (1995), in a program overseen by the Dept. of CommerceCommerce, United States Department of,
federal executive department charged with promoting U.S. economic development and technological advancement. In Feb., 1903, the Congress established a Department of Commerce and Labor empowered to investigate and report upon the operations
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.

Bibliography

See M. Clinard and P. Yeager, Corporate Crime (1980); R. Berenbeim, Corporate Ethics (1987); C. Walton, The Moral Manager (1988); P. Baida, Poor Richard's Legacy (1990).

References in periodicals archive ?
At the same time, a weakness of the text is that the editors do not stay focused on their aim of providing articles dealing with business ethics from a religious perspective.
There's been a 7 percent drop since 2003 in "the evaluation of employee performance based on ethical conduct" and only a 4 percent increase in the disciplining of employees for breaking ethical standards, according to a study released last fall by the Ethics Resource Center (ERC), a nonprofit organization dedicated to the study of business ethics.
within Europe there is a bigger variety of legal and cultural approaches to corporate governance, according to Georges Enderle, a professor of international business ethics at the University of Notre Dame, in Indiana.
One thing I can say is that preaching (as opposed to teaching) business ethics doesn't work.
Enderle--a Swiss ex-Jesuit fluent in liberation theology as well as economic theory combines a European Catholic social ethics perspective, focused on reforming the economic system, with an American business ethics perspective, focused on corporate responsibility, and a Chinese perspective on the global economy.
As a result, more interest in business ethics has become evident.
In schools without JA, teachers can visit the organization's online Business Ethics Center for content information and activities.
A lot of corporate benchmark programs in business ethics are just now rolling out," says W.
It's often called the 'Holiness Code' for business ethics,'' Schechter said.
Business Ethics in the Global Market Edited by Tibor R.
The bimonthly Business Ethics ($49/ year) will keep entrepreneurs, employees and investors abreast of evolving social issues in the rapidly changing business world.
Editors Andrea Larson and Edward Freeman "invited scholars who had not participated in the discourse of business ethics - their primary work having been in what we broadly call women's studies - and leading scholars in business ethics" to "have a conversation" (p.

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