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Business ethics is a form of applied ethics or professional ethics, that examines ethical principles and moral or ethical problems that can arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. These ethics originate from individuals, organizational statements or the legal system. These norms, values, ethical, and unethical practices are the principles that guide a business.
Ethics or moral philosophy is a branch of philosophy that "involves systematizing, defending, and recommending concepts of right and wrong behavior". The field of ethics, along with aesthetics, concerns matters of value; these fields comprise the branch of philosophy called axiology.
Morality is the differentiation of intentions, decisions and actions between those that are distinguished as proper (right) and those that are improper (wrong). Morality can be a body of standards or principles derived from a code of conduct from a particular philosophy, religion or culture, or it can derive from a standard that a person believes should be universal. Morality may also be specifically synonymous with "goodness" or "rightness".
Guanxi is a term used in Chinese culture to describe an individual's social network of mutually beneficial personal and business relationships. The character guan, 关, means “closed” while the character xi 系 means “system” and together the term refers to a closed system of relationships that is somewhat analogous to the term old boy's network in the West. In Western media, the pinyin romanization guanxi is more widely used than common translations such as "connections" or "relationships" because those terms do not capture the significance of a person's guanxi to most personal and business dealings in China. Unlike in the West, guanxi relationships are almost never established purely through formal meetings but must also include spending time to get to know each other during tea sessions, dinner banquets, or other personal meetings. Essentially, guanxi requires a personal bond before any business relationship can develop. As a result, guanxi relationships are often more tightly bound than relationships in Western personal social networks. Guanxi has a major influence on the management of businesses based in mainland China and businesses owned by Overseas Chinese people in Southeast Asia.
Integrity is the practice of being honest and showing a consistent and uncompromising adherence to strong moral and ethical principles and values. In ethics, integrity is regarded as the honesty and truthfulness or accuracy of one's actions. Integrity can stand in opposition to hypocrisy, in that judging with the standards of integrity involves regarding internal consistency as a virtue, and suggests that parties holding within themselves apparently conflicting values should account for the discrepancy or alter their beliefs. The word integrity evolved from the Latin adjective integer, meaning whole or complete. In this context, integrity is the inner sense of "wholeness" deriving from qualities such as honesty and consistency of character.
Historically there have been differences among investigators regarding the definition of organizational culture. Edgar Schein, a leading researcher in this field, defined "organizational culture" as comprising a number of features, including a shared "pattern of basic assumptions" which group members have acquired over time as they learn to successfully cope with internal and external organizationally relevant problems. Elliott Jaques first introduced the concept of culture in the organizational context in his 1951 book The Changing Culture of a Factory. The book was a published report of "a case study of developments in the social life of one industrial community between April, 1948 and November 1950". The "case" involved a publicly-held British company engaged principally in the manufacture, sale, and servicing of metal bearings. The study concerned itself with the description, analysis, and development of corporate group behaviours.
Corporate social responsibility (CSR) or corporate social impact is a form of international private business self-regulation which aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in, with, or supporting professional service volunteering through pro bono programs, community development, administering monetary grants to non-profit organizations for the public benefit, or to conduct ethically oriented business and investment practices. While once it was possible to describe CSR as an internal organizational policy or a corporate ethic strategy similar to what is now known today as Environmental, Social, Governance (ESG); that time has passed as various companies have pledged to go beyond that or have been mandated or incentivized by governments to have a better impact on the surrounding community. In addition national and international standards, laws, and business models have been developed to facilitate and incentivize this phenomenon. Various organizations have used their authority to push it beyond individual or even industry-wide initiatives. In contrast, it has been considered a form of corporate self-regulation for some time, over the last decade or so it has moved considerably from voluntary decisions at the level of individual organizations to mandatory schemes at regional, national, and international levels. Moreover, scholars and firms are using the term "creating shared value", an extension of corporate social responsibility, to explain ways of doing business in a socially responsible way while making profits.
Ethical consumerism is a type of consumer activism based on the concept of dollar voting. People practice it by buying ethically made products that support small-scale manufacturers or local artisans and protect animals and the environment, while boycotting products that exploit children as workers, are tested on animals, or damage the environment.
Social exchange theory is a sociological and psychological theory that studies the social behavior in the interaction of two parties that implement a cost-benefit analysis to determine risks and benefits. The theory also involves economic relationships—the cost-benefit analysis occurs when each party has goods that the other parties value. Social exchange theory suggests that these calculations occur in romantic relationships, friendships, professional relationships, and ephemeral relationships as simple as exchanging words with a customer at the cash register. Social exchange theory says that if the costs of the relationship are higher than the rewards, such as if a lot of effort or money were put into a relationship and not reciprocated, then the relationship may be terminated or abandoned.
Power distance is a dimension theorized and proven by Geert Hofstede, who outlined multiple cultural dimensions throughout his work. This term refers to inequality and unequal distributions of power between parties; whether it is within the workplace, family, organizations or companies. It is an anthropological concept used in cultural studies to understand the relationship between individuals with varying power, the effects, and their perceptions. For example, a mother's power distance to her son or a subordinate's distance to their CEO. Power distance also delineates whether the members of an institution accept or reject the power distance within the institutions cultural framework. Meaning, some cultures and countries treat power distance with different levels of concern. It uses the Power Distance Index (PDI) as a tool to measure the acceptance of power established between the individuals with the most power and those with the least.
Environmental resource management is the management of the interaction and impact of human societies on the environment. It is not, as the phrase might suggest, the management of the environment itself. Environmental resources management aims to ensure that ecosystem services are protected and maintained for future human generations, and also maintain ecosystem integrity through considering ethical, economic, and scientific (ecological) variables. Environmental resource management tries to identify factors affected by conflicts that rise between meeting needs and protecting resources. It is thus linked to environmental protection, sustainability, integrated landscape management, natural resource management, fisheries management, forest management, and wildlife management, and others.
Professional responsibility is a set of duties within the concept of professional ethics for those who exercise a unique set of knowledge and skill as professionals.
Corporate behaviour is the actions of a company or group who are acting as a single body. It defines the company's ethical strategies and describes the image of the company. Studies on corporate behaviour show the link between corporate communication and the formation of its identity.
In ethics and social sciences, value denotes the degree of importance of some thing or action, with the aim of determining which actions are best to do or what way is best to live, or to describe the significance of different actions. Value systems are prospective and prescriptive beliefs; they affect the ethical behavior of a person or are the basis of their intentional activities. Often primary values are strong and secondary values are suitable for changes. What makes an action valuable may in turn depend on the ethical values of the objects it increases, decreases, or alters. An object with "ethic value" may be termed an "ethic or philosophic good".
An ethical bank, also known as a social, alternative, civic, or sustainable bank, is a bank concerned with the social and environmental impacts of its investments and loans. The ethical banking movement includes: ethical investment, impact investment, socially responsible investment, corporate social responsibility, and is also related to such movements as the fair trade movement, ethical consumerism, and social enterprise.
Ethical marketing refers to the application of marketing ethics into the marketing process. Briefly, marketing ethics refers to the philosophical examination, from a moral standpoint, of particular marketing issues that are matters of moral judgment. Ethical marketing generally results in a more socially responsible and culturally sensitive business community. The establishment of marketing ethics has the potential to benefit society as a whole, both in the short- and long-term. Ethical marketing should be part of business ethics in the sense that marketing forms a significant part of any business model. Study of Ethical marketing should be included in applied ethics and involves examination of whether or not an honest and factual representation of a product or service has been delivered in a framework of cultural and social values.
Greenberg (1987) introduced the concept of organizational justice with regard to how an employee judges the behavior of the organization and the employee's resulting attitude and behaviour. For example, if a firm makes redundant half of the workers, an employee may feel a sense of injustice with a resulting change in attitude and a drop in productivity.
Organizational ethics is the ethics of an organization, and it is how an organization responds to an internal or external stimulus. Organizational ethics is interdependent with the organizational culture. Although it is to both organizational behavior and industrial and organizational psychology as well as business ethics on the micro and macro levels, organizational ethics is neither organizational behavior nor industrial and organizational psychology, nor is it solely business ethics. Organizational ethics express the values of an organization to its employees and/or other entities irrespective of governmental and/or regulatory laws.
Ethics in the public sector is a broad topic that is usually considered a branch of political ethics. In the public sector, ethics addresses the fundamental premise of a public administrator's duty as a "steward" to the public. In other words, it is the moral justification and consideration for decisions and actions made during the completion of daily duties when working to provide the general services of government and nonprofit organizations. Ethics is defined as, among others, the entirety of rules of proper moral conduct corresponding to the ideology of a particular society or organization (Eduard). Public sector ethics is a broad topic because values and morals vary between cultures. Despite the differences in ethical values, there is a growing common ground of what is considered good conduct and correct conduct with ethics. Ethics are an accountability standard by which the public will scrutinize the work being conducted by the members of these organizations. The question of ethics emerges in the public sector on account of its subordinate character.
A Corporate Social Entrepreneur (CSE) is someone who attempts to advance a social agenda in addition to a formal job role as part of a corporation. CSEs may or may not operate in organizational contexts that are predisposed toward corporate social responsibility. CSEs' concerns are with both the development of social capital and economic capital, and the formal job role of a CSE may not necessarily be connected with corporate social responsibility, nor does a CSE have to be in an executive or management position.
References
- 1 2 3 Natale, Hoffman & Hayward 1998, p. 35.
- ↑ Govier 1997, p. 132.
- ↑ Rose 2011, p. 196.
- ↑ LEWIS, Richard. When cultures collide: Leading across cultures. Nicholas Brealey International, 2010.
- ↑ Hopkins 2012, p. 120.
- ↑ TRUST by Francis Fukuyama.
Sources
- Govier, T. (1997). Social Trust and Human Communities. Social Trust and Human Communities. McGill-Queen's University Press. ISBN 978-0-7735-1680-9.
- Natale, S.M.; Hoffman, R.P.; Hayward, G. (1998). Business Education and Training: Corporate Structures, Business, and the Management of Values. Business education and training : a value-laden process. University Press of America. ISBN 978-0-7618-1003-2.
- Rose, D.C. (2011). The Moral Foundation of Economic Behavior. Oxford University Press. ISBN 978-0-19-978177-5.
- Hopkins, B. (2012). Cultural Differences and Improving Performance: How Values and Beliefs Influence Organizational Performance. Ashgate Publishing Limited. ISBN 978-1-4094-5862-3.
