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 ?
Corporate Ethics for Turbulent Markets: Executive Response to Market Challenges
Additionally, IEnova is a leader in corporate ethics. In 2018, it was recognized among the Top Ten in the Corporate Integrity Ranking by Mexican Transparency, Mexicans Against Corruption and Impunity, and the magazine Expansin.
Summary: Kolkata (West Bengal) [India], March 8 (ANI): Globsyn Business School (GBS) organized its 3rd Vision Seminar under the aegis of Globsyn Management Conference (GMC), on 'Corporate Ethics and Responsible Leadership' at The Bengal Chamber of Commerce and Industries on March 8, 2019.
He is also responsible for PNC's Corporate Ethics Office, The PNC Foundation, Community Affairs, the Office of the Regional Presidents and Corporate Communications.
Operating as a team and not as an individual should be a corporate value; this is corporate ethics. TEAM means Together, empowering to Achieve More.
Sarbanes-Qxley expected to improve corporate ethics, but unfortunately few executives have a high confidence their employees are doing the right thing.
Maharajh serves as Vice President and General Counsel at Pratt & Whitney, where he leads the Legal Services team and has overall responsibility for the company's legal matters as well as responsibility for contracts, corporate ethics, government compliance, and government security.
Not just as a visionary entrepreneur and leader of a conglomerate with footprints in more than 100 countries around the world, but Tata has also earned enormous respect in business circles within India and abroad for his commitment to corporate ethics, employee welfare and social responsibility.
Anzaldua is Executive Vice President and General Counsel at MetLife, Inc., where he leads the company's global legal operations, and oversees MetLife's corporate secretary's office and corporate ethics and compliance group.
Themed The Impact of Business Ethics On Public Life, the four-day talk will discuss how the crisis in corporate ethics has affected public life and confidence in banking, political, social and religious bodies.

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