Business ethics - Wikipedia. Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. As a corporate practice and a career specialization, the field is primarily normative. Academics attempting to understand business behavior employ descriptive methods. The range and quantity of business ethical issues reflects the interaction of profit- maximizing behavior with non- economic concerns. Interest in business ethics accelerated dramatically during the 1. For example, most major corporations today promote their commitment to non- economic values under headings such as ethics codes and social responsibility charters. Ethics implicitly regulates areas and details of behavior that lie beyond governmental control. The emergence of large corporations with limited relationships and sensitivity to the communities in which they operate accelerated the development of formal ethics regimes. As time passes norms evolve, causing accepted behaviors to become objectionable. Business ethics and the resulting behavior evolved as well. Business was involved in slavery. By the mid- 1. 98. The Society for Business Ethics was started in 1. European business schools adopted business ethics after 1. European Business Ethics Network (EBEN). The idea of business ethics caught the attention of academics, media and business firms by the end of the Cold War. If a company's purpose is to maximize shareholder returns, then sacrificing profits to other concerns is a violation of its fiduciary responsibility. Corporate entities are legally considered as persons in USA and in most nations. The 'corporate persons' are legally entitled to the rights and liabilities due to citizens as persons. Ethics are the rules or standards that govern our decisions on a daily basis. Corporations and professional organizations, particularly licensing boards, generally will have a written . It is important to note that . Statutes and regulations passed by legislative bodies and administrative boards set forth the . A business cannot have responsibilities. So the question is, do corporate executives, provided they stay within the law, have responsibilities in their business activities other than to make as much money for their stockholders as possible? And my answer to that is, no, they do not. For example, they can hold title to property, sue and be sued and are subject to taxation, although their free speech rights are limited. This can be interpreted to imply that they have independent ethical responsibilities. Issues concerning relations between different companies include hostile take- overs and industrial espionage. Developing business leaders for a better world. The following books are recommended because of their highly practical nature and often because they include a wide range of information about this. Conflict Minerals and Firms’ Ignorance Over Their Supply Chains; One Man’s Leadership Toward a Goal: Related issues include corporate governance; corporate social entrepreneurship; political contributions; legal issues such as the ethical debate over introducing a crime of corporate manslaughter; and the marketing of corporations' ethics policies. It discusses business Ethics in verse 1. Adapting to changing Environment in verse 4. Learning the intricacies of different tasks in verse 4. It concerns technical issues such as the mix of debt and equity, dividend policy, the evaluation of alternative investment projects, options, futures, swaps, and other derivatives, portfoliodiversification and many others. It is often mistaken by the people to be a discipline free from ethical burdens. Neoliberal ideology promoted finance from its position as a component of economics to its core. Neoliberals recommended that governments open their financial systems to the global market with minimal regulation over capital flows. Some pragmatic ethicists, found these claims to unfalsifiable and a priori, although neither of these makes the recommendations false or unethical per se. In essence, to be rational in finance is to be individualistic, materialistic, and competitive. Business is a game played by individuals, as with all games the object is to win, and winning is measured in terms solely of material wealth. Within the discipline this rationality concept is never questioned, and has indeed become the theory- of- the- firm's sine qua non. Such simplifying assumptions were once necessary for the construction of mathematically robust models. However signalling theory and agency theory extended the paradigm to greater realism. Outside of corporations, bucket shops and forex scams are criminal manipulations of financial markets. Cases include accounting scandals, Enron, World. Com and Satyam. Some assess human resource policies according to whether they support an egalitarian workplace and the dignity of labor. Business ethics & professionalism training videos, online courses, DVDs and activities for employees, supervisors, executives, managers and students. Browse the latest news and information relating to Business Ethics, Corporate Ethics, Ethics in Business, Ethics & Compliance and Business Ethics Articles. Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise. 3 CHAPTER 1 PRINCIPLES OF BUSINESS ETHICS Ethics form the foundation for international economic activities. Ethical guidelines are essential in. The Rochester Area Business Ethics Foundation promotes and supports ethical business cultures in the Greater Rochester NY area. We also educate and celebrate ethical. A common approach to remedying discrimination is affirmative action. Once hired, employees have the right to occasional cost of living increases, as well as raises based on merit. Promotions, however, are not a right, and there are often fewer openings than qualified applicants. It may seem unfair if an employee who has been with a company longer is passed over for a promotion, but it is not unethical. It is only unethical if the employer did not give the employee proper consideration or used improper criteria for the promotion. Ethical marketing issues include marketing redundant or dangerous products/services. Certain promotional activities have drawn fire, including greenwashing, bait and switch, shilling, viral marketing, spam (electronic), pyramid schemes and multi- level marketing. Advertising has raised objections about attack ads, subliminal messages, sex in advertising and marketing in schools. Production. Since few goods and services can be produced and consumed with zero risk, determining the ethical course can be problematic. In some case consumers demand products that harm them, such as tobacco products. Production may have environmental impacts, including pollution, habitat destruction and urban sprawl. The downstream effects of technologies nuclear power, genetically modified food and mobile phones may not be well understood. While the precautionary principle may prohibit introducing new technology whose consequences are not fully understood, that principle would have prohibited most new technology introduced since the industrial revolution. Product testing protocols have been attacked for violating the rights of both humans and animals. The word property is value loaded and associated with the personal qualities of propriety and respectability, also implies questions relating to ownership. A 'proper' person owns and is true to herself or himself, and is thus genuine, perfect and pure. For instance, John Locke justified property rights saying that God had made . Blackstone conceptualized property as the . During this time settlers began the centuries- long process of dispossessing the natives of America of millions of acres of land. Property, which later gained meaning as ownership and appeared natural to Locke, Jefferson and to many of the 1. Taney in his 1. 85. Persons and things, are 'constituted' or 'fabricated' by legal and other normative techniques. Penner views property as an . Davies counters that . Some societies, e. Native American bands, held land, if not all property, in common. When groups came into conflict, the victor often appropriated the loser's property. Ethics of property rights begins with recognizing the vacuous nature of the notion of property. Intellectual property. Boldrin and Levine argue that . This is because it is widely recognized that monopoly creates many social costs. Intellectual monopoly is no different in this respect. The question we address is whether it also creates social benefits commensurate with these social costs. In the US, IP other than copyrights is regulated by the United States Patent and Trademark Office. The US Constitution included the power to protect intellectual property, empowering the Federal government . We show through theory and example that intellectual monopoly is not necessary for innovation and as a practical matter is damaging to growth, prosperity, and liberty. Such drugs have benefited millions of people, improving or extending their lives. Patent protection enables drug companies to recoup their development costs because for a specific period of time they have the sole right to manufacture and distribute the products they have invented. Roderick Long, a libertarian philosopher, observes, . Thus any alleged property rights that conflict with this moral basis. In my judgment, intellectual property rights also fail to pass this test. To enforce copyright laws and the like is to prevent people from making peaceful use of the information they possess. If you have acquired the information legitimately (say, by buying a book), then on what grounds can you be prevented from using it, reproducing it, trading it? Is this not a violation of the freedom of speech and press? It may be objected that the person who originated the information deserves ownership rights over it. But information is not a concrete thing an individual can control; it is a universal, existing in other people's minds and other people's property, and over these the originator has no legitimate sovereignty. You cannot own information without owning other people. Allison envisioned an egalitarian distribution of knowledge. Scarcity is natural when it is possible to conceive of it before any human, institutional, contractual arrangement. Artificial scarcity, on the other hand, is the outcome of such arrangements. Artificial scarcity can hardly serve as a justification for the legal framework that causes that scarcity. Such an argument would be completely circular. On the contrary, artificial scarcity itself needs a justification. Ashcroft and Air Pirates. International issues. Theoretical issues such as cultural relativity of ethical values receive more emphasis in this field. Other, older issues can be grouped here as well. Ethics & Compliance Initiative (ECI). The Sarbanes- Oxley (SOX) provision, requiring senior financial officers to adopt a code of ethics does, in fact, lower restatements of earnings often associated with financial mismanagement. A longitudinal study, Sarbanes–Oxley Section 4. Code of Ethics for Senior Financial Officers and Firm Behavior , spanning a decade provides some of..
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