Business Versus Ethics? Thoughts on the Future of Business Ethics

Dacin, M. Tina; Harrison, Jeffrey S.; Hess, David; Killian, Sheila; Roloff, Julia

doi:10.1007/s10551-022-05241-8

Cited by 21 publications

(9 citation statements)

References 57 publications

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“…An environment of trust is fostered by openness and honesty in corporate dealings, which can increase investor confidence, staff engagement, and customer loyalty. Conversely, unethical acts such as fraud or dishonesty can quickly erode trust and damage a business' reputation (Dacin et al, 2022). This suggests that norms or rules for employee behavior and decision making are provided by corporate ethics.…”

Section: Literature Review Business Ethicsmentioning

confidence: 99%

Ethical Business Decision-Making in Organizations: A Theoretical Perspectives

Pembi,

Ali

2024

AQR

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Ethics issues are characterized by ambiguity and complexity, and they have high-stakes implications for both individuals and organizations. The study of business ethics focuses on identifying the moral standards of good and wrong that govern interactions between and within organisations. To sustain a competitive advantage in today's competitive market, business leaders must embrace ethical decision-making. Businesses that do not make ethical decisions, risk falling behind their market competitors. This research looks at ethical frameworks that can help managers distinguish between ethical and unethical business decisions. As it is a review of literature, the current study mainly depends on literature. Several theories, including utilitarianism, individualism, justice, and right theories, have been examined in this study to explain the underlying cognitive and behavioural processes governing ethical decision-making. The results show that while making moral decisions, managers need to be aware of the ethical ramifications of various issues and circumstances. As a result, managers should use ethical principles while making decisions, especially when it comes to stakeholders in a business. The findings of this study will assist other researchers in identifying comparable studies during the literature review stage of their research and will serve as a framework for future research in business ethics.

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Section: Literature Review Business Ethicsmentioning

confidence: 99%

Ethical Business Decision-Making in Organizations: A Theoretical Perspectives

Pembi,

Ali

2024

AQR

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“…Stakeholder theory integrates business and ethics and operates on equity and justice for all stakeholders. It suggests that firms that satisfy the interests of a wide range of stakeholders can create more value in the long run (Dacin et al , 2022). This approach acknowledges that the success and sustainability of a business are intertwined with the well-being of its stakeholders.…”

Section: Distinction 4: Stakeholder Engagementmentioning

confidence: 99%

Editorial: The distinctions between ethical and nonethical entrepreneurship

Vaduva

2023

JEET

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Humanity is facing challenges ranging from inflation, unemployment, population aging, government debt, immigration, disease, armed conflict, etc. Some experts claim that Western nations, with entrepreneurship and globalization as their "economic software," are declining. Powers in the East propose an alternative called "digital socialism with Asian characteristics" as they are speculating weaknesses such as social inequality and environmental damages.The Journal of Ethics in Entrepreneurship and Technology acknowledges the shortcomings of traditional entrepreneurial systems. However, this editor believes that entrepreneurship and globalization must be redeemed, not replaced. Over the past four centuries, in multiple cultural contexts, entrepreneurship has created prosperity and well-being. It has created jobs, lifted people out of poverty and generated products and services enjoyed by many. With this editorial, I would like to contribute to the redemption of entrepreneurship by outlining seven distinctions between ethical and nonethical entrepreneurship.Ethical entrepreneurship is based on principles and values that guide business decisions and is primarily concerned with value, not just profit. It places a strong emphasis on moral integrity, social responsibility and long-term sustainability. Ethical entrepreneurs consciously and intentionally integrate their ethical standards into their business practices. Current research suggests that ethical entrepreneurship generates long-term business success, social acceptance, customer and employee loyalty (Ratten, 2023). Ethics can be viewed as the critical and normative reflection of morality, while morality is the practical implementation of ethics (Vallaster et al., 2019). Nonethical entrepreneurship is primarily focused on profit maximization within legal boundaries. It typically views shareholders as the most important stakeholders, taking precedence over all others. Moral considerations are sometimes discounted in the quest of maximize profits. Studies have shown that exclusive profit-maximizing motives in entrepreneurship can lead to questionable, even harmful choices (Murnieks et al., 2014;Ratten, 2023). Distinction 1: purpose and motivationThe first distinction between ethical and nonethical entrepreneurship is its purpose and motivation. A sense of morality or altruism to all stakeholders drives ethical entrepreneurship. It is not an anti-profit approach, but it seeks to balance the quest for financial gain with social responsibility. Frequently, ethical entrepreneurship is infused with a strong sense of divine purpose or calling, and it can be associated with religious experiences. Ethical entrepreneurs view their businesses as instruments for advancing social, moral or environmental causes. They seem to have a higher calling which necessitate

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“…It is a common experience for business people to violate the contract terms and utilise the law's loopholes to declare themselves bankrupt. The law makes choices and is all-pervading (Dacin et al, 2022;Singer, 2018).…”

Section: Privatizing Legal Code: Breeding Economic Inequalitiesmentioning

confidence: 99%

Legal Foundations of Economic Inequality in the Time Loop of Law and Economics Movement

Sanjeet Singh

2023

Hum. Rights Glob. South.

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The role of law in breeding economic inequality has gone unnoticed for an extended period, however, is yet to be explored. To state and elaborate the problem, while capitalism has been considered to potentially contribute to the ongoing inequality trends in the world, there needs to be more literature on how the legal order in term of bolstering capitalism and economic inequalities are enlaced. The research problem is in regards to the extention of choice of legal structure undergirding capitalism correlate with economic inequality. As a limitation, this correlation should not be understood causally, as other underlying potential factors perpetuating economic inequality must exist. This article undertakes to fill the gap by utilizing epistemological and multidisciplinary approaches from the theories and practices of law and economics. Applying semiotic interpretation systems in forming arguments and drawing conclusions in doctrinal legal research. Various views enabled through the findings because both law and economics are partly subjective and irrational, which reshape the meanings. It founds that capitalism as a legal order is established to trace Economic inequality's legal roots. Therefore, appalling economic inequalities can co-exist with formal legal equality. Laws can reshape societies, but they serve capital, even when the movement of law and economics is at crossroads.

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Business Versus Ethics? Thoughts on the Future of Business Ethics

Cited by 21 publications

References 57 publications

Ethical Business Decision-Making in Organizations: A Theoretical Perspectives

Ethical Business Decision-Making in Organizations: A Theoretical Perspectives

Editorial: The distinctions between ethical and nonethical entrepreneurship

Legal Foundations of Economic Inequality in the Time Loop of Law and Economics Movement

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