Businesses face ethical issues and decisions almost every day. The concept explores what is means for companies and what they can do to coordinate the interests of their stakeholders.
Business Ethics Definition
Business ethics is “the degree of moral obligation that may be ascribed to corporations beyond simple obedience to the laws of the state” (Kilcullen and Kooistra, 1999). It concerns “business situations, activities, and decisions where the issue of right and wrong are addressed…[meaning] morally right or wrong as opposed to, for example, commercially, strategically, or financially right or wrong” (Crane and Matten, 2007).
Business Ethics Description *
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Business Ethics References (4 of up to 20) *
- BBC News (2013) UBS faces Hong Kong Investigation. [Online] Available at: (www.bbc.co.uk/news/business-20794038).
- Buchanan, R. and Nasiripour, S. (2012) Mexican Regulator Fines HSBC Unit $27.5m. Financial Times, 25 July.
- Chan, A.M.M., Ip, P. and Lam, K. (2009) Business Ethics in Greater China: An Introduction. Journal of Business Ethics, Vol. 88(1), p. 1-9.
- Crane, A. and Matten, D. (2007) Business Ethics: Managing Corporate Citizenship and Sustainability in the Age of Globalization. Oxford University Press, Oxford.
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