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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.
Public relations (PR) is the practice of managing and disseminating information from an individual or an organization to the public in order to influence their perception. Public relations and publicity differ in that PR is controlled internally,whereas publicity is not controlled and contributed by external parties. Public relations may include an organization or individual gaining exposure to their audiences using topics of public interest and news items that do not require direct payment. The exposure is mostly media-based,and this differentiates it from advertising as a form of marketing communications. Public relations aims to create or obtain coverage for clients for free,also known as earned media,rather than paying for marketing or advertising also known as paid media. But in the early 21st century,advertising is also a part of broader PR activities.
Sustainable management takes the concepts from sustainability and synthesizes them with the concepts of management. Sustainability has three branches:the environment,the needs of present and future generations,and the economy. Using these branches,it creates the ability of a system to thrive by maintaining economic viability and also nourishing the needs of the present and future generations by limiting resource depletion.
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 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.
Environmental resource management or environmental 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 between meeting needs and protecting resources. It is thus linked to environmental protection,resource management,sustainability,integrated landscape management,natural resource management,fisheries management,forest management,wildlife management,environmental management systems,and others.
The stakeholder theory is a theory of organizational management and business ethics that accounts for multiple constituencies impacted by business entities like employees,suppliers,local communities,creditors,and others. It addresses morals and values in managing an organization,such as those related to corporate social responsibility,market economy,and social contract theory.
A sustainable business,or a green business,is an enterprise that has a minimal negative impact or potentially a positive effect on the global or local environment,community,society,or economy—a business that strives to meet the triple bottom line. They cluster under different groupings and the whole is sometimes referred to as "green capitalism". Often,sustainable businesses have progressive environmental and human rights policies. In general,a business is described as green if it matches the following four criteria:
- It incorporates principles of sustainability into each of its business decisions.
- It supplies environmentally friendly products or services that replace demand for nongreen products and/or services.
- It is greener than traditional competition.
- It has made an enduring commitment to environmental principles in its business operations.
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.
Business development entails tasks and processes to develop and implement growth opportunities within and between organizations. It is a subset of the fields of business,commerce and organizational theory. Business development is the creation of long-term value for an organization from customers,markets,and relationships. Business development can be taken to mean any activity by either a small or large organization,non-profit or for-profit enterprise which serves the purpose of 'developing' the business in some way. In addition,business development activities can be done internally or externally by a business development consultant. External business development can be facilitated through Planning Systems,which are put in place by governments to help small businesses. In addition,reputation building has also proven to help facilitate business development.
A hybrid organization is an organization that mixes elements,value systems and action logics of various sectors of society,i.e. the public sector,the private sector and the voluntary sector. A more general notion of hybridity can be found in Hybrid institutions and governance.
Robert Edward Freeman is an American philosopher and professor of business administration at the Darden School of the University of Virginia,particularly known for his work on stakeholder theory (1984) and on business ethics.
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.
Corporate sustainability is an approach aiming to create long-term stakeholder value through the implementation of a business strategy that focuses on the ethical,social,environmental,cultural,and economic dimensions of doing business. The strategies created are intended to foster longevity,transparency,and proper employee development within business organizations. Firms will often express their commitment to corporate sustainability through a statement of Corporate Sustainability Standards (CSS),which are usually policies and measures that aim to meet,or exceed,minimum regulatory requirements.
Stakeholder management is a critical component in the successful delivery of any project,programme or activity. A stakeholder is any individual,group or organization that can affect,be affected by,or perceive itself to be affected by a programme.
Richard P. Nielsen is the Professor of Management and Organization at Boston College's Carroll School of Management and a past President of the Society for Business Ethics.
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. It is possible for CSEs to work in organizational contexts that are favourable to corporate social responsibility (CSR). CSEs focus on developing both social capital and economic capital,and their formal job role may not always align with corporate social responsibility. A person in a non-executive or managerial position can still be considered a CSE.
A sustainability organization is (1) an organized group of people that aims to advance sustainability and/or (2) those actions of organizing something sustainably. Unlike many business organizations,sustainability organizations are not limited to implementing sustainability strategies which provide them with economic and cultural benefits attained through environmental responsibility. For sustainability organizations,sustainability can also be an end in itself without further justifications.
Denis Collins was an American business ethicist and tenured professor of business at Edgewood College in Madison,Wisconsin.
Peter Mark Pruzan is a Danish organizational theorist,management consultant,and Emeritus Professor of Systems Science at the Department of Management,Politics &Philosophy at the Copenhagen Business School (CBS) in Denmark. Pruzan is known for work on corporate governance and values-based leadership. He became a naturalized Danish citizen in 1973.
Globalization of supply chains and pressure to lower production costs have negatively impacted environments and communities around the world,especially in developing nations where production of high demand goods is increasingly taking place. Since the 1990s,awareness of these negative impacts has grown,leading stakeholders to push companies to take responsibility and actively work to improve the sustainability of their supply chains. It has come to be understood that a company is only as sustainable as the start of its supply chain,bringing about the need for sustainable sourcing. Sustainable sourcing refers to the inclusion of social,environmental,and economic criteria in the sourcing process.
References
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- ↑ Stead, W. Edward; Worrell, Dan L.; Stead, Jean Garner (March 1, 1990). "An integrative model for understanding and managing ethical behavior in business organizations". Journal of Business Ethics. 9 (3): 233–242. doi:10.1007/BF00382649 – via Springer Link.
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- ↑ Worrell, Dan L.; Stead, W. Edward; Stead, Jean Garner; Spalding, J. B. (October 16, 1985). "Unethical Decisions: The Impact of Reinforcement Contingencies and Managerial Philosophies". Psychological Reports. 57 (2): 355–365. doi:10.2466/pr0.1985.57.2.355. PMID 4059450. S2CID 29019991 – via CrossRef.
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- ↑ Stead, Jean Garner; Stead, W. Edward (June 16, 2013). "The Coevolution of Sustainable Strategic Management in the Global Marketplace". Organization & Environment. 26 (2): 162–183. doi:10.1177/1086026613489138 – via CrossRef.
- ↑ "Sustainability assurance: a strategic opportunity for CPA firms".
- ↑ Stead, W. Edward; Garner Stead, Jean (January 1, 1994). "Can Humankind Change the Economic Myth? Paradigm Shifts Necessary for Ecologically Sustainable Business". Journal of Organizational Change Management. 7 (4): 15–31. doi:10.1108/09534819410061351 – via Emerald Insight.
- ↑ Stead, Jean Garner; Stead, Edward (April 1, 2000). "Eco-Enterprise Strategy: Standing for Sustainability". Journal of Business Ethics. 24 (4): 313–329. doi:10.1023/A:1006188725928. S2CID 153686830 – via Springer Link.
- ↑ Stead, Edward; McKinney, Michael M.; Stead, Jean Garner (November 16, 1998). "Institutionalizing environmental performance in US industry: Is it happening and what if it does not?". Business Strategy and the Environment. 7 (5): 261–270. doi:10.1002/(SICI)1099-0836(199811)7:5<261::AID-BSE167>3.0.CO;2-4 – via RePEc – Econpapers.
- ↑ Stead, Edward; Garner, Jean (July 1, 2000). "Earth: A Spiritual Stakeholder". The Ruffin Series of the Society for Business Ethics. 2: 231–244. doi:10.5840/ruffinx200022 – via www.pdcnet.org.
- ↑ Stead, W. Edward; Stead, Jean Garner (November 16, 2013). Neal, Judi (ed.). Handbook of Faith and Spirituality in the Workplace: Emerging Research and Practice. Springer. pp. 271–283. doi:10.1007/978-1-4614-5233-1_17 – via Springer Link.
- ↑ Stead, Jean Garner; Stead, W. Edward (April 3, 2014). "Building spiritual capabilities to sustain sustainability-based competitive advantages". Journal of Management, Spirituality & Religion. 11 (2): 143–158. doi:10.1080/14766086.2013.832359. S2CID 143995654 – via IngentaConnect.
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