A recent Business Week article titled Just Say No to Drug Reps focused on how pharmaceutical companies influence physician behavior through free donuts, bagels, lunches and dinners. Business ethics is the application of ethical principle in the organization or business. Texas Instruments is an example of a company that embodies this new organizational paradigm of management. The leader must perform a key role in enhancing the competitiveness of the company by preventing and eradicating unethical conduct through ethical compliance.
Laczniak G.R. and Murphy P.E. (1991), Fostering Ethical Marketing Decisions, Journal of Business Ethics, vol. We must be honest and ethical in our personal conduct as well as be guardians of FRP’s high ethical standards. On the face of it, the business that avoids extra costs associated with ethical behavior, and bears only costs necessary to meet the law, will be more profitable, all things equal.
While there may be “newcomers” to embracing ethics in business, ethical and responsible conduct have always been the standard at many companies. The 4th Workshop on Business Ethics brings together scholars and practitioners to discuss and develop ideas and research in the field of business ethics and corporate responsibility.
Values determine ethical balance and organizations should be well founded with positive core values with services that benefit all that they interact with. Sweet R.T. (1993), Alienation and moral imperatives: A reply to Kanungo, Journal of Business Ethics, nÂ° 12, p. 579-582.
Torres, Nicole L. “Ethically Speaking: What are today’s students learning about business ethics.” Entrepreneur. This course aims to develop your understanding of business ethics and how organisations follow the code of ethics in their daily operations. Any deviation from the moral code of conduct or abusing the ethics can result in dire consequences for him, such as suspension of license, termination of right to practice, and severe penalties.