Manual Trends in Business and Economic Ethics

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Business discipline-related ethics issues e. Business, socio-economic justice and poverty X Business, government and rights of indigenous peoples X X Business, government and institutional reform X X Business ethics education X X Business ethics theoretical frameworks X X Business, virtue ethics and character development X X Organizational ethics and legal compliance X Business ethics and business strategy X X International business ethics X X Environmental ethics and sustainability X X Economic—political system ethics X Global corporate citizenship X X Business employee rights and responsibilities X X Canada and the USA share indicates a consolidation of research, teaching and training research concerns on the status of business ethics, corporate resources which supplement the core curriculum of the social performance, stakeholder theory, corporate gover- business schools.

However, the lack of a formal business nance, business functional area ethics, business ethics edu- ethics requirement for AACSB accreditation, along with cation, business ethics theoretical frameworks, business the AACSB endorsement of curricular flexibility and local ethics and business strategy, international business ethics, business school politics, has and can contribute in the environmental ethics, and sustainability, global corporate future to directly reduce or eliminate the number of pro- citizenship, employer rights and responsibilities.

Canada fessors teaching business ethics in business schools places slightly more emphasis on Swanson and Frederick In addition, the resistance government and the rights of indigenous peoples and to sound business ethics education from solely functionally intergenerational justice, while the USA emphasizes lead- trained business faculty can be mutually reinforcing and ership ethics and economic political system ethics. The optimal but infrequently implemented scenario ences and similarities among the business ethics teaching is to have required, stand-alone courses at both the and training themes organized by tracks are indicated in undergraduate and graduate levels with business ethics Table 4.

Business ethics teaching and training are offered integrated across the curriculum, along with other business Table 4 North American North American business ethics teaching and training by survey tracks Mexico Canada USA business ethics teaching and training matrix — Track one: business ethics teaching themes 1.

Secular and non-secular need for business ethics X X X 3. Business ethics theories in simple isolation and in complex tradeoffs X X 4. Business ethics applied to critical and constructive macro-level analysis X X economic—political—social systems that support or inhibit ethical development 5. Business ethics applied to critical and constructive molar-level analysis X X organizational ethics and ethical work cultures 6.

Global Trends and Business Ethics

Business ethics applied to firm market stakeholders employees, investors, X X X creditors, suppliers, distributors, board governance, business partners, competitors 7. Business ethics applied to critical and constructive micro-level analysis and X X X individual moral responsibility individual and group ethical decision- making 9. Business ethics applied to business functional areas finance ethics, X X accounting ethics, marketing ethics, technology ethics International business ethics issues X X Track two: business ethics training themes 1.

Individual responsibility for workplace honesty X X X 4. Positive workplace attitudes and adjustment X X X 5. Business ethics and business etiquette X X 6. Business ethics and legal compliance X X 7. Resolving ethical issues in the workplace X X X 8. Responsible business leadership and organizational ethics X X 9. However, an individual who experiences group ethical decision-making.

Trends in Business and Economic Ethics

Canada and the USA place sound business ethics teaching will normally question more more emphasis on business ethics applied to the molar and deeply by asking whether the ethical case for the business macro levels with less emphasis on corruption than case is sufficiently morally compelling. This implicit Mexico , business ethics applied to functional areas, and emphasis on ethics training might be one of the reasons international business ethics.

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AACSB-accredited or not, whether the course offered is Canada and the USA place more emphasis on legal com- stand-alone, topically integrated throughout the business pliance, business etiquette, organizational ethics, and curriculum, or provided in some hybrid modular delivery business ethics applied to functional areas. However, North American training in upon domestic or global rankings in terms of ethics, busi- business ethics does vary considerably depending on a ness social responsibility, and sustainability curriculum variety of factors, including whether the institution offering coverage.

In general, North American teaching of business the training is AACSB-accredited or not, whether the ethics is stratified with most top-ranked business schools program offered is a degree, certificate, or non-degree, non- all of which are sensitive to reputational prestige and most certificate program, the level of faculty instructional of which are AACSB-accredited requiring that one or expertise, the mission of the institution, the relative more of the topics of ethics, corporate social responsibility, emphasis upon short- or long-term benefits of the training, and sustainability be covered in their MBA and under- as well as other factors.

In general, North American graduate curricula with one-fourth of the top schools training in business ethics is geared to provide a foundation requiring coverage of all three areas as part of their MBA in business ethics literacy with primary emphasis upon the curriculum. An individual who is exposed only to accreditation standards and recommendations, therefore, business ethics training usually stops asking normative has been demonstrated but the prospect of a larger impact questions after the business case for a policy, process, or with more rigorous ethics requirements looms.

In sum- strategy is made.

EJBO - Electronic Journal of Business Ethics and Organization Studies

Faculty engaged in business ethics mary, one of the conclusions to be drawn from our study is training in business schools tend to focus on the business that while the North American region offers both breadth case not the ethics case for business ethics. The ethics of domestic and standard of business ethics teaching across business school global economic systems is assuming a heightened priority at programs at the graduate and undergraduate levels in line this time Petrick Fur- Theory Development to Better Handle Contemporary thermore, more responsiveness to student demand for Business Moral Complexity increased professionalization of business education in order to set a higher moral standard for future business leaders, as In addition to historical versions of teleological, deonto- illustrated by the MBA Oath movement which originally logical, virtue and contextual ethics theories, which are started at Harvard Business School by business students often applied in isolation and in a derivative manner, North and is currently spreading across the region, would be American ethical theory is emphasizing pluralism.

Ethical warranted Anderson and Escher In addressing The authors have collected and documented the following complex contemporary business moral issues, recent ethics ten future challenges for North American business ethics research proposes that moral expertise requires more than research, teaching and training identified by survey the mastery of a single, conventional moral theory like respondents.

Related Business Ethics Issues Civilizing the Corporation, Openness to Comparative The recent global recession has caused many to question Theories of the Firm, and Improving Corporate uncritical adherence and endorsement of short-term Governance shareholder wealth maximization strategies Fox ; Bremmer Their vast generating goals to include respect for public interests and power needs to be matched with a more civilizing demon- the contribution of public goods Cragg , The progression of North American of Business Ethics Education Including Constructive business ethics research from a normative focus on per- Engagement with Digital Media sonal moral standards, to collaboration with empirical scientists working at the organizational level, is now being The most recent AACSB standards regarding the assess- extended to inter- and multi-disciplinary research directed ment of ethics education in the business curriculum will to systemic, organizational, and individual issues which encourage on-going critical evaluation of diverse instruc- increasingly has an international dimension Bowie Increased sharing of business ethics education best practices can only advance Advancing Toward Ethically Sound International the quality of business ethics education Petrick a; and Regional Business Ethics Standards Swanson and Fisher , In addition, as business schools them- ruption conventions, and UN principles setting out the selves begin to internalize the value associated with ethical human rights obligations of corporations.

These initiatives work cultures, the institutionalization of organizational will require the effective integration of normative research ethical infrastructures within business schools e. There are increasing calls for the professionalization of Advancing Economic, Social and Environmental business education and management, as well as enhanced Sustainability accountability of business leader ethical performance Datar et al.

The North American economic values and strategies have Harvard MBA Oath is a practical expression of this desire shaped in fundamental ways the evolution of economic for higher professional standards which intersects with pro- systems that are increasingly seen to be unsustainable from posals for more stringent mandatory ethics requirements by economic, social, and environmental perspectives as evi- bodies like the AACSB.

Trends in Business Ethics & Corporate Citizenship

Those business schools that require denced by global climate change, social justice issues, and systematic, structured coverage of business ethics, inte- the global financial crisis originated in the US leading to grated with corporate social responsibility and environ- the worst economic recession since the Great Depression of mental sustainability in both their undergraduate and post- the s.

Research whose have both an opportunity and an obligation to contribute to purpose is to explore how to professionalize business edu- the building of sustainable systems and practices that cation and performance is both a research and an educational address these issues and contribute to their resolution imperative Jones ; DeMartino Desjardins For example, the social practitioner performance have been called into question. The need for significantly improved standards of business conduct and business practice, and The Ethics of Systemic and Non-systemic risk increased professionalization of business education to Management ensure that future business leaders and firms contribute ethically sustainable value to the market and non-market The irresponsible shifting of risk onto innocent third parties stakeholders they impact is clear.

The challenge is to can have and has had devastating implications for its victims ensure that North American business ethics research and Carroll The de-personalization and commodification education plays a significant role in meeting that need. Setting ethically justifiable regulatory restraints on financial and other commercial activities will be one of the Anderson, M. The MBA oath: Setting a higher most challenging tasks for the future, a task to which business standard for business leaders. New York: Portfolio.

Arnold, D.

Industry 5.0: The Ethics Of Artificial Intelligence

Recent work in ethical theory and its implications for business ethics. Business Ethics Quarterly, 20 4 , — Business ethics in Latin America. Business ethics no longer an endangered species but still threatened. Bremmer, I. The end of the free market. Leading North American business ethicists have bemoaned Brenkert, G. The limits and prospects of business ethics.

About Marcell Vollmer

Civilizing the economy: A new economics of whole Epstein ; Trevino ; DeGeorge a, b; provision. New York: Cambridge University Press. Carrie, J. The inspirationally challenging questions et al. Young people, ethics, and the new digital media. Reflections on the business ethics field and experts to call upon our research when debating important Business Ethics Quarterly. Chan, K. Business ethics research: A What if they used our work to design and change organi- global perspective.

Journal of Business Ethics, 95, 39— What if Cowton, C. Internationalizing the business our students went on to influence the organizations they ethics curriculum: A survey. Journal of Business Ethics, 14, — Business ethics and stakeholder theory. Business Ethics Quarterly, 12 2 , — Cragg, A. Business and human rights: A principle and Conclusions value based analysis. Beauchamp Eds. Oxford: OUP.

Three Critical Goals for Compliance Professionals in the New Year

The North American region will continue to play a domi- Cragg, A. The state and future directions of business nant role in published business ethics research, business ethics research and practice. Business Ethics Quarterly, 20 4 , ethics teaching, and business ethics training along with — Now that we are in the midst of the Fourth Industrial Revolution, companies are defining and implementing the digitalization of industrial processes.

New business models are emerging — driven by AI and intelligent machine learning — and collaboration is becoming increasingly important not only between disparate business functions but also different companies. The next wave of the industrial revolution needs to define how society as a whole wants to work together with technology and how the rules of human-robot or human-machine collaboration can be shaped when decisions are made based on artificial intelligence. Whether consumers are aware or not, AI and machine learning are already impacting ordinary individuals every day, including through apps and services such as Uber, Airbnb, and Google.

While there AI technology has shortcomings in its current state e.

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  5. Not only can machine learning protect companies from security threats, but it can also be used to detect and mitigate human rights violations. For example, businesses can use machine learning in the supply chain to identify sustainability or modern slavery hotspots in high-risk communities and work to create solutions. This fear related to empathy for job loss certainly cannot be dismissed. However, in the workforce as a whole, new jobs will be created that will exceed the jobs reduced by automation. In fact, the World Economic Forum predicts automation will create 58 million new jobs by Industry 5.

    A variety of content, which is attributed to business ethics depends on the context of its occurrence. Each approach, however, boils down to the general and the basic conclusion that economics should serve man, not vice versa. Entrepreneurs can not be guided in their actions solely by profit. Ethics, as having theoretical knowledge of fundamental importance for our actions, it is rational and reasoned knowledge of the values and duties of human action , arising from the fact of being human.

    Business ethics is concerned of limits to human economic activities. Business ethics is both part of the prescriptive normative ethics establishing standards of conduct, recommending certain behaviours, as well as descriptive ethics, describing the moral attitudes and behaviours of entrepreneurs. In principle, the practical goal of business ethics is to solve ethics problems in business. Author: Krzysztof Wozniak. Not logged in Talk Contributions Create account Log in.