Washington, DC: Office of Publishing and Promotion Services, US Catholic Conference. The philosophers who began the endeavor typically started from a comprehensive ethical framework supplied by ethical theory. For instance, in 1978 General Motors and other United States corporations operating in South Africa adopted what were known as the Sullivan Principles. Ethics is a common way to determine what it means to be an upstanding citizen, a decent individual, an active participant as a parent, and is an effective tool for someone with excellent leadership skills. This could be a version of utilitarianism (which examines the consequences of actions), a Kantian approach to ethical issues (which assumes that duty and rights are basic) or an Aristotelian approach (which places virtue in the center and analyses the character of moral actors—in this case, those in business) or a combination of two or more of them. Although widely accepted, CSR is a somewhat nebulous concept and is often adopted by companies in response to external criticism, without any overarching framework or set of values. Karl Marx’s critique of capitalism never took serious hold in the United States, and unlike in many European countries, no democratic socialist political party ever developed there. Global Reach: The Power of Multinational Corporations. 17 The Global Compact encourages the creation of local networks on national and regional levels to share information, develop appropriate means of implementing the principles, and encourage other companies to join. Bible. Even after the fall of Rome, clear discussions of business ethics did not exist, however, there were many conversations about justly and honestly buying and selling good and services. Technically, business ethics have been around since humans started bartering for goods. 1. This prohibited United States firms from making payments to high-level government officials of foreign countries in order to obtain contracts or special favors. It was not until 20 years later that the OECD countries adopted similar legislation. “What is ‘Business Ethics’?” The Public Interest 63: 18–36. The Ethics of Information Technology and Business. John Paul II, Pope. In the Protestant tradition, Calvinism developed what is called the Protestant (or Puritan) work ethic, namely, the doctrine that hard work was a calling and a means of achieving success, and that economic success was a sign of one’s preordained salvation. He believes each strand represents a different yet equally important perspective on business ethics. “Business Ethics and Stakeholder Analysis.” Business Ethics Quarterly 1: 53–72. In 1989 Thomas Donaldson published the first book on international business ethics, followed by one by Richard De George (1993). Richard T. De George describes the history of business ethics to have blended together from different strands. 2006. Englewood Cliffs, NJ: Prentice Hall. At the same time, many philosophy departments felt that those who engaged in the study of business ethics were not really doing philosophy as they defined philosophy. Thomas Donaldson was the Director of the Organizing Committee. 11 The first issue of Business Ethics: A European Review was published in 1992. Instead, business ethics are principles and values that guide how a company does business. Ethical Issues in Business: A Philosophical Approach. The Journal of Business Ethics appeared in 1982. If they were being accused of hiring discrimination, companies could then tell the public that they had a social responsibility to hire a diverse group of individuals. Those who saw the global reach (e.g. Business ethics can be defined as the principles and values that guide a company in its interactions with other stakeholders such as clients, suppliers, consumers, competitors, and the society as a whole (Terris, 2005). For St. Thomas Aquinas on usury (he followed Aristotle on this point), see his. Business ethics is now not only a firmly established academic field, it is something companies realize they need to manage and internalize. In 1984, after the Union Carbide disaster at its plant in Bhopal, India, which killed thousands and injured several hundred thousand people, the chemical industry adopted a voluntary code called Responsible Care. History of Ethics provides an understanding of the various ethical philosophies and why they were developed, examining issues and lessons learned, management and organizations might be able to begin to change behavior in a positive manner. Business ethics evolved from a myriad of changes that occurred over time. There is a good collection of religious and secular texts and essays in Stackhouse et al. In the United States the rapidly developing field had some impact on business. Academic criticism, public protests, self-policing and corporate or industry codes can go only so far. The two are often divided within the same company. The first governmental impetus came in 1977 with the passage of the United States Foreign Corrupt Practices Act. What has become clear over the past 40 years is that all three strands of business ethics are interrelated. The major religious influence on American economic culture is the Judeo-Christian. A form of ethics is business ethics. ), the Talmud (200 A.D.) and the Biblical Ten Commandments. Other journals in business ethics followed. The books found a ready market and courses were introduced in philosophy departments and business schools. Peter Drucker, a well-known business-management theoretician, was one of those who claimed that there is no such thing as business ethics, only ethics in business. Social responsibility was a term used by companies to help correct the error in their ways. New York: Routledge and Kegan Paul. The texts came to cover the range of ethical issues in business, starting from meta-ethical questions such as whether moral language which was typically used to refer to human moral agents could appropriately be used to refer to corporations, whether corporations were moral agents, whether one could one meaningfully speak of the conscience of a corporation, and whether the criteria for moral responsibility (having knowledge and will) made sense when applied to corporations. In as early as 1700 B.C., the Code of Hammurabi was already prescribing prices, laying down rules of commerce, and instituting penalties for noncompliance. Depending on what perspective historians have on the topic, will shift their version of history. It gave corporations a large financial incentive to appoint a corporate ethics officer, to institute an ethics-training program for all employees, and to develop, adopt and enforce a code of conduct. What comes to mind when you hear the phrase “business ethics?” Many people associate ethics with following your conscience or the law. This strand can be divided further into the secular and the religious branches. The philosophical branch of academic business ethics emphasized the normative aspects of business ethics, and the social sciences branch emphasized the descriptive aspects of business ethics.
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