The new business opportunities and prospects emerging in Europe within the Common Market and other Western and European countries also raise important ethical challenges. This work comprises a collection of ethical insights to enhance the conduct of business in an evolving Europe.

The Handbook of Business Ethics: Philosophical Foundations is a standard interdisciplinary reference handbook in the field of business ethics. Articles by notable philosophers and economists examine fundamental concepts, theories and questions of business ethics: Are morality and self-interest compatible? What is meant by a just price? What did the Scholastic philosophers think about business? The handbook will cover the entire philosophical basis of business ethics. Articles range from historical positions such as (...) Aristotelianism, Kantianism and Marxism to systematic issues like justice, religious issues, rights and globalisation or gender. The book is intended as a reference work for academics, students (esp. graduate), and professionals. (shrink)

Few would deny that some central questions in business ethics are normative. But there has been, and remains, much skepticism about the value of traditional philosophical approaches to answering these questions. I have three central aims in this chapter. The first is to defend traditional philosophical approaches to business ethics against the criticism that they are insufficiently practical. The second is to defend the view that the appropriate methodology for pursuing work in business ethics (...) is largely continuous with the appropriate methodology in moral and political philosophy more broadly. And the third is to offer a brief characterization of how we should think about the substance of business ethics, in light of my arguments about its proper aims and methodology. (shrink)

This article examines the relevance and value of Confucian Ethics to contemporary Business Ethics by comparing their respective perspectives and approaches towards business activities within the modern capitalist framework, the principle of reciprocity and the concept of human virtues. Confucian Ethics provides interesting parallels with contemporary Western-oriented Business Ethics. At the same, it diverges from contemporary Business Ethics in some significant ways. Upon an examination of philosophical texts as well as empirical (...) studies, it is argued that Confucian Ethics is able to provide some unique philosophical and intellectual perspectives in order to forge a richer understanding and analysis of the field of contemporary Business Ethics. (shrink)

While theoretically, egoism may be considered one kind of ethics, generally speaking, egoism, defined as self-interest at the expense of others, is contrary to the central principles of ethics, which are, in the main, other-directed. While Adam Smith's economics is famously argued to serve both self and other, the core thesis of this chapter is that Adam Smith's position is seriously flawed. The chapter argues that self-interest economics is fundamentally flawed and needs to be replaced by an objective, (...) value-based economics. It is shown that Adam Smith's notions of humans as simultaneously ethical beings and beings who pursue their self-interest are contradictory. Economics cannot exist for the sake of itself: it must exist for the sake of a higher end. (shrink)

This article begins with a detailed analysis of how the choice situation of a social contract for international business ethics can be constructed and justified. A choice situation is developed by analyzing conceptions of the multinational firm and the domain of international business. The result is a hypothetical negotiation between two fictional characters, J. Duncan Grey and Elizabeth Redd, who respectively represent the interests of businesses and communities seeking to engage in international trade. The negotiators agree on (...) ethical principles governing wages, the environment, and compliance social and cultural norms. These principles are then shown to rest in wide reflective equilibrium with considered moral judgments on international business ethics, which are drawn from international agreements, such as the UN Declaration on Human Rights, and voluntary business initiatives, such as the Global Sullivan Principles and the UN Global Compact. (shrink)

This study explores the research paradigms of contemporary business ethics research in 2001–2008. With citation data from the top two business ethics journals included in the Social Sciences Citation Index, this study conducts citation and co-citation analysis to identify the most important publications, scholars, and research themes in the business ethics area and then maps the intellectual structure of business ethics studies between 2001 and 2008. The results show that current business (...) ethics studies cluster around four major research themes, including morality and social contract theory, ethical decision making, corporate social responsibility, and stakeholder theory. This study helps profile the invisible network of knowledge production in business ethics and provides important insights on current research paradigms of business ethics studies. (shrink)

The paper maps out an alternative to a behavioural (economic) approach to business ethics. Special attention is paid to the fundamental philosophical principle that any moral ‘ought’ implies a practical ‘can’, which the paper interprets with regard to the economic viability of moral agency of the firm under the conditions of the market economy, in particular competition. The paper details an economic understanding of business ethics with regard to classical and neo-classical views, on the one hand, (...) and institutional, libertarian thought, on the other hand. Implications are derived regarding unintentional and passive intentional moral agency of the firm. The paper moves on to suggest that moral agency can be economically viable in competitive ‘market’ interactions, which is conventionally disputed by classical/neo-classical and institutional, libertarian economics. The paper here conceptualises active moral agency of the firm as the utilisation of ethical capital in firm--stakeholder interactions. This yields a reinterpretation of instrumental stakeholder theory. (shrink)

This article approaches the field of business ethics from a Nietzschean vantage point, which means explaining the weakness of the field by means of providing an etiological account of the values esteemed by the decadent business ethicists therein. I argue that such business ethicists have wandered from their immanent philosophical ground to act as scientists, business persons, and preaching-moralists as a way of evading their human self-contradictions. In actuality, this fleeing exacerbates them into a sickness (...) of self-idolatry and selfloathing. I bring in Nietzsche's approach to the value of truth and his ascetic priest figure to get to the origin of this problem. Moreover, I attend throughout to delimiting the field of business ethics as that branch of ethics that can be taught in business schools. Indeed, the article itself is a movement in this direction, being inherently and intentionally philosophical. (shrink)

Business Ethics, the Environment & Responsibility, Volume 31, Issue 2, Page 453-473, April 2022.

Family values are argued to enable ethical family business conduct. However, how these arise, evolve, and how family leaders articulate them is less understood. Using an ‘identity work’ approach, this paper finds that the values underpinning identity work: arise from multiple sources, evolve in tandem with the context; and, that their articulation is relational and aspirational, rather than merely historical. Prior research mostly understood family values as rooted in the past and relatively stable, but our rhetorical analysis unlocks a (...) more dynamic and promising research direction advancing family business ethics. (shrink)

Business Ethics: A European Review, EarlyView.

No political philosopher is better known in the business world than Niccolo Machiavelli, whose fame there rests entirely on his authoring of The Prince. Over the last two decades, no less than ten books have been published in the popular business press on the Renaissance Italian thinker, most of them attempting to show the relevance of his realpolitik world-view to the sorts of issues that a contemporary manager is apt to face. The popular view, though, of Machiavelli as (...) a hard-headed thinker has been challenged by scholars pointing to his advocacy of republics in the Discourses on Livy, his other great work. Interpreted along these lines, Machiavelli can be invoked to support participatory structures in business along with the cultivation of publicly spirited virtues. We argue that the common perceptions of Machiavelli are on the right track. His analysis of republics uncovers weaknesses germane to business that render The Prince more suitable to commercial life. As such, Machiavelli's overriding point is that in a competitive arena, like that of modern-day business, individuals holding leadership positions, or aspiring to them, must be prepared to go beyond conventional morality and live by a different and, indeed, icy set of rules. Being good in business, Machiavelli warns, will only lead to personal ruin. Machiavelli goes further than this, calling for a trans-valuation of values, wherein the praiseworthy qualities of leaders are redefined so as to take into account the competitive realities of business. In this new ethic, virtue is connected to acquisitiveness, moral flexibility, image management, reaching its culmination in the entrepreneurial task of founding a great company. (shrink)

Ethical decision theory may not be sufficiently well developed to furnish reliable guidelines to people involved in complex decision making that involves conflict between ethical considerations and business imperatives such as making a profit. In conditions of ethical uncertainty hindsight bias may occur, and this study reports on an exploration of hindsight bias effects among participants in continuing education in business programmes. Perceptions of business ethics were found to differ among groups within the sample depending on (...) what they thought had been the outcome of the ethical decision concerned. (shrink)

The paper explores how the concepts of corporate social responsibility (CSR) and business ethics are perceived by business managers and business school professors/administrators in China, using interviews. The findings suggest that the perceptions of both concepts are tinged with cultural nuances. The study has implications for further developing business ethics research programs in the Chinese context and for crosscultural communications and management.

The main objective of this paper is to assess the attitude of a group of Malaysian business students towards business ethics. The survey results indicate that the respondents in general are of the opinion that the businesses in Malaysia consider ethics as secondary. A greater emphasis on ethical values in the business curricular has been strongly supported by the respondents. Moreover, the majority of the respondents believe that moral/ethical education and top management attitudes are the (...) most important factors influencing ethical standards in business practices. (shrink)

Environmental, social and ethical issues have become increasingly important for businesses due to changed customer expectations, more regulation and stakeholder pressure, amongst others. This led to the development of concepts such as sustainability management, corporate social responsibility, stakeholder management and business ethics. Though mostly developed in isolation, scholars have increasingly worked on their integration. This editorial sheds light on overlaps between these concepts. We find that sustainability management and CSR have become more integrated and are increasingly grounded in (...) an “embedded view“ in which business and society is part of the natural environment. In contrast, business ethics has not been integrated to the same extent, expect for the subfield of environmental ethics. After this general overview, we introduce the individual contributions to the special issue which are advancing the conceptual and empirical foundation of sustainability management, CSR, and business ethics. (shrink)

This paper critically examines traditional rule-based and externalist approaches to the teaching of business ethics. The review materializes in a framework of seven pitfalls associated with the traditional approach, and bridges to overcome these perils are offered. Care is taken to avoid submitting the implausible positions of moral relativism. A perspective of methodological pluralism and normative internalism is developed and presented as a fruitful avenue for effective teaching in business ethics, and possible avenues for empirical exploration (...) are offered. (shrink)

Business schools have become implicated in the widespread demonisation of the financial classes. By educating those held most responsible for the crisis – financial traders and speculators – they are said to have produced ruthlessly talented graduates who have ambition in abundance but little sense for social responsibility or ethics. This ethical lack thrives upon the trading floor within a compelling critique of the complicity of the pedagogy of the business school with the financial crisis of the (...) global economy. An ethical turn within the curriculum is now widely encouraged as a counteractive force. Within this paper, however, we argue that taking this ethical turn is not enough. For business ethicists to learn from the financial crisis, the crisis' legacy needs to be taken account of, and financialisation needs to be taken seriously. Pedagogical reform cannot bracket itself off from the crisis as if it were coincidental with or separate from it. Post-crisis pedagogy must rather take the fact that it is requested now, in light of the crisis, as its very point of departure. The financial crisis must not be understood as something to be resisted in the name of Business Ethics. Instead, the financial crisis must be understood as the very foundation for contemporary Business Ethics in particular and for contemporary business and management education more generally. (shrink)

Catholic business schools may better fulfill their religious mission by integrating Catholic social ethics into the business curriculum. But doing so presents a challenge to many business instructors who are unfamiliar with the Catholic ethical tradition. The purpose of this paper is to helpovercome this difficulty by describing a pedagogy the author has used successfully to integrate Catholic social ethics into the business ethics course. The pedagogy utilizes the Model of Integrated Course Design, (...) the Method of Shared Inquiry, and a model of moral behavior grounded in the student’s worldview. This framework makes plausible a learning goal of increasing not only students’ moral awareness and moral reasoning, but their moral motivation as well—a goal particularly appropriate to a Catholic management education. Attitudes of students toward the course are examined and implications drawn for implementing it in the curriculum. (shrink)

Arthur Anderson & Co. has made a significant contribution to assist and encourage the teaching of business ethics. They provided assistance initially through workshops and curriculum materials; currently they are using campus coordinators to disseminate information and materials. The curriculum materials can be used by the instructor to assist students in practicing their moral reasoning skills and cover four academic areas: Accounting, Finance, Marketing, and Management. These materials include business ethics video vignettes, suggestions on presentation methods, (...) guidelines for implementing a stakeholders' analysis approach to ethical reasoning, and possible discussion questions. The vignettes present ethical dilemmas that persons may encounter in entry level positions. We have used the vignettes, the accompanying discussion questions, and the suggested stakeholder analysis in class presentations. This paper presents a discussion of the basic concepts associated with cooperative learning, an example of the implementation of cooperative learning techniques using the Arthur Andersen Accounting Ethics Vignettes, and empirical results of the influence of these particular group discussions on the students' ethical responses. We did not attempt to measure whether the individuals' moral levels changed, but whether the group discussions stimulated any changes in the students attitudes toward the particular ethical dilemma they viewed. (shrink)

In the second half of 1993, two articles — one then published and one as yet to be published — posed challenges to my presuppositions about the nature of business ethics. The first of these was Andrew Stark’s “What’s the Matter with Business Ethics?” This article is now well-known in business ethics circles with many being highly critical of its philosophical content and Stark already having had some opportunity to reply to these critics. According (...) to him, business ethics as it has developed in the literature and in academia is irrelevant to most practicing managers since what has been produced in the academy is too general, too theoretical and too impractical. No doubt there will be more said about and by Stark on whether academic business ethics can fit into the practical work world of corporate managers. For my part, I suggest that while Stark’s critique of business ethics contains some flawed understanding and analysis, it is a critique that nonetheless needs to be taken seriously by those who wish to see business ethics flourish in the corporation. I will have some more to say about Stark’s position later in this commentary. (shrink)

To what degree has biology influenced and shaped the development of moral systems? One way to determine the extent to which human moral systems might be the product of natural selection is to explore behaviour in other species that is analogous and perhaps homologous to our own. Many non-human primates, for example, have similar methods to humans for resolving, managing, and preventing conflicts of interests within their groups. Such methods, which include reciprocity and food sharing, reconciliation, consolation, conflict intervention, and (...) mediation, are the very building blocks of moral systems in that they are based on and facilitate cohesion among individuals and reflect a concerted effort by community members to find shared solutions to social conflict. Furthermore, these methods of resource distribution and conflict resolution often require or make use of capacities for empathy, sympathy, and sometimes even community concern. Non-human primates in societies in which such mechanisms are present may not be exactly moral beings, but they do show signs of a sense of social regularity that—just like the norms and rules underlying human moral conduct—promotes a mutually satisfactory modus vivendi. (shrink)

This paper looks at the changes that have taken place during the past three decades in developing countries as reported in the 2013 UN Human Development Report and how they affect the obligations of multinationals from developed countries. It argues that the changes call for greater attention to the growing North-South paradigm and its implicit Respect-cooperation model rather than the still dominant Developed/Developing Nations paradigm and its Dependency-victim model. It examines some of the rethinking such a paradigm change makes in (...) approaching poverty reduction and corporate social responsibility. (shrink)

The present state of our spirituality is a consequence of the influences of particular circumstances of life. Undoubtedly, the general changes in the social, political and economic orientations of society significantly influence the nature of the processes taking place in the spiritual sphere. The transition to the rails of market reforms, the affirmation of the principle of pragmatism as a kind of measure of the effectiveness of human life, the priority of economic values ​​over others, including spiritual values, leads to (...) a deepening crisis of spirituality, crisis of man. And in this connection M. Berdyaev's words appearing to warn him against uncritical perception of the values ​​of Western civilization, which, incidentally, is quite characteristic of modern Ukrainian society, appear to be quite correct: the loss of the spiritual center. " And further: “The autonomy of economic life led to its dominance over the entire life of human communities. Mammonism has become the defining force of the age. ”. (shrink)