The commonsense and immediately obvious definition of business ethics has to be something clearly along the lines of “The moral standards which guide the running and transactions of businesses”. Companies that act ethically impart a sense of trust and responsibility in both local and national communities; this type of trust can often promote strong business alliances. All topics in the domain of business ethics and corporate responsibility are welcome, though we encourage participants to adopt an international focus on their research.
Unfortunately too many people perceive that ethics only need to be presented to “bad” companies that need to reform. The types of personal goals an individual aspires to and the manner in which these goals are pursued have significant impact on that individual’s behavior in an organization.
Several individual factors influence the level of ethical behavior in an organization. And in the real world of business, altruism is one of the many motivations that do shape managers’ behavior. Learning ethics under all three theories (and engaging in ethical behavior) has a significant voluntary component.
Rather, ethical management is a process of anticipating both the law and the marketâ€”and for sound business reasons. As a result, POSCO enacted the code of ethics in 2003 that must be adhered to by all employees, and explicitly included the US Human Rights that claim to support respect for human life and dignity in 2014.
The Institute of Business Ethics, whose slogan is “doing business ethically makes for better business”, describes the term business ethics as such. Consistent compliance with a strong code of ethical conduct will be a major stimulus to having ethics become self-perpetuating.