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 ?
a leading provider of integrated human capital management solutions for payroll, HR, retirement, and insurance services, has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as one of the 2018 Worlds Most Ethical Companies.
Xerox has been recognized every year since 2006 and is one of only two honorees in the Information Technology Services industry, underscoring their commitment to leading with integrity and prioritizing ethical business practices.
Ethical Business Practice and Regulation: A Behavioural and Values-Based Approach to Compliance and Enforcement
Sedex is a non-profit organisation dedicated to driving improvements in responsible and ethical business practices in global supply chains.
a mobile services company for managing devices and accessories across the wireless ecosystem, has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as a 2017 World's Most Ethical Company, the company said.
US Bank, the fifth largest commercial bank in the United States, has been recognized by the Ethisphere Institute, the global leader in defining and advancing the standards of ethical business practices, as a 2017 World's Most Ethical company, the company said.
Ethisphere Institute, an organisation involved in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success, has recognised NiSource Inc.
This honour underscores Northern Trust's longstanding commitment to ethical business standards and practices, which begins with our board and senior leadership team but rests on the integrity, expertise and commitment to service of our 15,000 worldwide partners,' Northern Trust chairman and chief executive officer Frederick H.
NEW YORK -- The Ethisphere Institute, a leading international organization dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability, announced today the selection of the 2013 World's Most Ethical Companies,a recognition of 138 organizations that show leadership in setting ethical business standards.
The purpose of this study was to identify general characteristics attributed to ethical business cultures by executives from a variety of industries.
org), a nonprofit that promotes ethical business practices and provides resources for consumers and professionals, says a client should always "visit the designer's showroom or view the portfolio; request referrals from past clients: establish one file for all contracts, receipts, and warranties?
But we really wanted to promote ethical business rather than the notion that it always has to be entrepreneurial and cut-throat and we thought it would be great to be sponsored by the Co-op.