The Concept of Business Ethics
THE CONCEPT OF BUSINESS ETHICS
BY
JIMOH KABIR AYODEJI
Table of contents 1. Introduction……………………………………………………………………….………….……….3 2. Literature review……………………………………………………………………….….……….3 3. Meaning of Ethics and business Ethics………………………….…………….……….4 4.1. What is Ethic?...................................................................4 4.2. Definitions of Ethics………………………………….……………..…………….…..5 4.3. What is Ethical Behavior?....................................................6 4.4. Goal of a Theory of Ethics…………………………………………………....…….7 4.5. Business Ethics……………………………………………..………………..…..………7 4.6. Definition of Business Ethics……………………….………………..…..……….7 4.7. Importance of Business Ethics………………………………………..….………8 4. Organization and Business Ethics…………………………….………………………….…..10 5.8. Stakeholder versus Shareholder………………………………...............12 5.9. Management and Business Ethics………………….…………………….……13
5. Arguments for Implementation of Business Ethics…………………………….…….13
6. Arguments against Implementation of Business Ethics………………………..…13
7. Conclusions…………………………….………………………………………………………………….14
8. Recommendations………………………………………………………………….………………….14
9. References………………………………………………………………………….………………………15
1. Introduction
The concept of business ethics is relatively new, having become an issue and an organized field of study only since the 1970s. Although numerous factors have contributed to the increased interest in business ethics, a chief influence has been a shift in societal values that underlie the business system. The change in American values has been characterized, in general, by a move away from traditional Judeo-Christian ethics toward pluralism, relativism, and self-fulfillment. The end result has been a diminished base of universal moral norms and a subsequent interest in, and concern about, resolving ethical conflict. Understanding the evolution of morality in the United States is
BY
JIMOH KABIR AYODEJI
Table of contents 1. Introduction……………………………………………………………………….………….……….3 2. Literature review……………………………………………………………………….….……….3 3. Meaning of Ethics and business Ethics………………………….…………….……….4 4.1. What is Ethic?...................................................................4 4.2. Definitions of Ethics………………………………….……………..…………….…..5 4.3. What is Ethical Behavior?....................................................6 4.4. Goal of a Theory of Ethics…………………………………………………....…….7 4.5. Business Ethics……………………………………………..………………..…..………7 4.6. Definition of Business Ethics……………………….………………..…..……….7 4.7. Importance of Business Ethics………………………………………..….………8 4. Organization and Business Ethics…………………………….………………………….…..10 5.8. Stakeholder versus Shareholder………………………………...............12 5.9. Management and Business Ethics………………….…………………….……13
5. Arguments for Implementation of Business Ethics…………………………….…….13
6. Arguments against Implementation of Business Ethics………………………..…13
7. Conclusions…………………………….………………………………………………………………….14
8. Recommendations………………………………………………………………….………………….14
9. References………………………………………………………………………….………………………15
1. Introduction
The concept of business ethics is relatively new, having become an issue and an organized field of study only since the 1970s. Although numerous factors have contributed to the increased interest in business ethics, a chief influence has been a shift in societal values that underlie the business system. The change in American values has been characterized, in general, by a move away from traditional Judeo-Christian ethics toward pluralism, relativism, and self-fulfillment. The end result has been a diminished base of universal moral norms and a subsequent interest in, and concern about, resolving ethical conflict. Understanding the evolution of morality in the United States is
References: Bowie, Norman E. Business Ethics. Blackwell Pub., 1999. Braybrooke, David. Ethics in the World of Business. Totowa, NJ: Rowman & Allanhead, 1983. Cavanaugh, Gerald F., and Arthur F. McGovern. Ethical Dilemmas in the Modern Corporation. Englewood Cliffs, NJ: Prentice Hall, 1988. Freeman, Edward R., ed. Business Ethics: The State of the Art. New York: Oxford University Press, 1991. Harvard Business Review. The Business of Ethics and the Ethics of Business. Boston: Harvard College, 1986. Madsen, Peter, and Jay M. Shafritz. Essentials of Business Ethics. New York: Meridian, 1990