Observing Ethical Principles In Business: A Competitive Advantage?

Abstract

There is an unwritten assumption that success and business ethics are closely interrelated, and that it is not possible, in a successful business, to disregard moral and ethical principles on the long run. Unfortunately, it is extremely difficult to verify such an assumption.Knowledge of ethics and its relations with economics are vague, inconsistent, partially subjective and sparse. That is why it cannot be studied using traditional mathematical and statistical methods.

Fuzzy model of relationship among economic performance, competitiveness and business ethics of small and medium-sized enterprises

“…Fuzzy logic is an effi cient tool for work with information which is vague, uncertain, ill-structured or incomplete. This paper confi rms the conclusions published by Markesová et al (2003) -the results of the fuzzy model are dependent on the quality of the information entered into the fuzzy expert system. The fuzzy model does not allow users to gain information which is not present in the input data but makes visible the information and relationships that would remain hidden when other methods are used.…”

“…Several scientifi c studies have been conducted in the past to research this relationship but these studies focused on Great Britain and the USA. In the Czech Republic this relationship is researched by several authors including (Koráb, 1998;Markesová et al, 2003). Their research focuses mainly on small to medium sized enterprises.…”

“…The basics of fuzzy sets and fuzzy modeling are described in (Zimmermann, 1991). Research conducted by Markesová, Dohnal and Putnová in 2003 shows that it is possible to apply fuzzy logic to predict the fi nancial and economic performance of businesses based on a set of parameters. Methods of artifi cial intelligence and in particular fuzzy modeling can be used as a powerful tool for solving problems where information is vague, ill-structured or uncertain.…”