scholarly journals Business Ethics in Practice

2007 ◽  
Vol 6 (2) ◽  
pp. 38-44
Author(s):  
L Solomon Raj ◽  
J J Soundararaj
Keyword(s):  
Working Environment ◽  
Business Practices ◽  
Socially Responsible ◽  
Performance Expectations ◽  
Ethical Business ◽  
Ethical Practices ◽  
Responsible Action ◽  
The Government ◽  
Best Business Practices ◽  
Good Number

Globally, all stakeholders associated with any business feel comfortable in an environment where the fundamentals of ethical business practices are best protected and practiced. It is time for any business that goes global or act local to get serious about the moral aspects and social implications of decision making. There are a good number of evidences in the global scenario that the organisations adhere to ethical business practices are able to meet out the expectations of all the stakeholders satisfactorily. The ultimate task must be considered by every manager is to be more than simply meeting performance expectations. Performance goals must always be achieved through ethically and socially responsible action. The attitude to practice good business practices could be well evidenced basically by the mission and vision of an organization. The mission of Infosys is " to achieve our objectives in an environment of fairness, honesty and courtesy towards our clients, employees, vendors and society at large". Its vision is "to be a globally respected corporation that provides best-of-breed business solutions, leveraging technology, delivered by best in-class people". Moreover Infosys has set standards in every business activity- best campus, best working environment, best employer, most transparent dealings, highest quality standards- as well as the highest ethical standards, never seeking any deviant benefits from the government. It would be interesting but not shocking to know the most telling message that Infosys gives out to any discerning observer is its motto: Powered by intellect and Driven by Values. Knowing the importance of adhering to the best business practices to reap the fruit of success, some of the ethical practices need to be followed and being practiced by the well-known organisations are presented in this paper.

John Commons on Customer Goodwill and the Economic Value of Business Ethics: Response to Professor Sen

1994 ◽  
Vol 4 (3) ◽  
pp. 359-365 ◽  
Author(s):  
Robert Black
Keyword(s):  
Business Ethics ◽  
Customer Relations ◽  
Economic Value ◽  
Market Value ◽  
Intangible Capital ◽  
Socialist Economy ◽  
Business Practices ◽  
Ethical Business ◽  
Ethical Practices ◽  
Fair Competition

Abstract:This paper shows how John R. Commons’ analysis of a firm’s goodwill value gives analytical support to Professor Amartya Sen’s contention (BEQ, 1993) that business ethics makes economic sense. A firm’s market value consists of the value of both tangible and intangible capital, including the goodwill value of ongoing customer relations. If a firm is to defend its goodwill value, it needs to have the protection of the courts and to pursue ethical practices. The courts defend fair competition by giving protection from unethical competitors while the firm defends its reputation with honest dealings.By implication, firms which depend on ongoing customer relations will tend to engage in more ethical business practices than firms which do not. Even a firm which makes a mistake that compromises its product’s safety may reduce the loss of goodwill value over time by admitting the mistake early rather than hiding it.Also by implication, the transition from a command socialist economy to a market economy cannot be made instantaneously since trust, reputation, and these ongoing customer relations—key institutions of market economies—cannot be generated instantaneously.

scholarly journals Reasons of Unethical Business Practices in Slovakia: The Perspective of Non‑Governmental Organizations’ Representatives

2019 ◽  
Vol 67 (2) ◽  
pp. 565-581
Author(s):  
Anna Remišová ◽  
Anna Lašáková ◽  
Alexandra Bohinská
Keyword(s):  
Business Ethics ◽  
Business Environment ◽  
The State ◽  
Macro Level ◽  
Business Practices ◽  
Ethical Business ◽  
Unethical Conduct ◽  
Governmental Organizations ◽  
Non Governmental Organizations ◽  
The Government

After the fall of communism, the first non‑governmental organizations (NGOs) were established in Slovakia in the 1990’s. Since then, our NGOs have played an important role in promoting business ethics even though it was originally not part of their primary mission. Given that, we held semi‑structured interviews with the leaders of nine prominent Slovak NGOs to identify the perceived causes of unethical practices occurring in the Slovak business environment. The results of this qualitative research suggest that our respondents connect the causes of unethical actions in business mainly with the macro‑level of society, that is with the way the State with its institutions and authorities operate. Out of ten identified causes of unethical business practices, our respondents assigned five to the macro‑level, while they linked three reasons to the mezzo‑level with unethical conduct of companies and two to the micro‑level with unethical decisions of individuals. Since the government has taken measures to create a more ethical business environment recently, it is now up to companies to realize they hold the joint responsibility for the state of the Slovak society and to concentrate more on what they can do for their part in favor of the development of business ethics.

scholarly journals The impact of cultural values and economic constraints on tourism businesses’ ethical practices

2019 ◽  
Vol 5 (2) ◽  
pp. 169-187 ◽  
Author(s):  
Heather Skinner
Keyword(s):  
Cultural Values ◽  
Business Practices ◽  
Cultural Issues ◽  
Socially Responsible ◽  
Ethical Practices ◽  
Local Society ◽  
Content Type ◽  
Ethical Stance ◽  
Economic Constraints ◽  
The Impact

Purpose Anecdotal evidence suggests that in times of economic constraints particularly in countries such as Greece that have long been stereotyped as corrupt, business practices amongst small- and medium-sized organisations that make up the majority of these nations’ tourism operators may become less than ethical or legal. The purpose of this paper is to explore these issues empirically in order to understand the impact of both cultural values and economic constraints on tourism businesses’ practices. Design/methodology/approach An exploratory case study using mixed methods has been adopted. Quantitative data were gathered from tourism business owners, managers and employees via questionnaires to establish the nature and scope of various unethical, illegal or immoral practices. Qualitative data were gathered to explore the ways these issues are considered and enacted. Findings Results show that there are many unethical and illegal practices that have been witnessed first-hand. Businesses’ attempts at acting in an ethical and socially responsible manner tend to be affected by not only cultural issues, but also economic constraints, yet there remains a desire to act in a way that does not impact negatively on tourists or on the local society and environment. Originality/value This research fills a gap in the literature relating to the ethical stance and practices of tourism entrepreneurs. It also presents an original conceptualisation of these issues in light of their location within the extant literature on ethics, corporate social responsibility and both sustainable and responsible tourism.

scholarly journals An Organizational Objective To Incorporate Social Responsibility

2011 ◽  
Vol 4 (3) ◽  
Author(s):  
Joseph W. Kennedy
Keyword(s):  
Social Responsibility ◽  
Research Question ◽  
Business Practices ◽  
Competitive Strategies ◽  
Ethical Business ◽  
Ethical Practices ◽  
Michael Porter ◽  
Remote Environment ◽  
Corporate Social

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.6in 0pt 0.5in;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman;">Organizational leaders are continuously making decisions and plans that will affect the long-term value of their firms.<span style="mso-spacerun: yes;">&nbsp; </span>Organizational strategic plans without corporate social responsible determinants, such as Enron&rsquo;s and MCI Worldcom&rsquo;s accounting policies, affected thousands of employees, stakeholders, and the firm&rsquo;s overall reputation throughout the world.<span style="mso-spacerun: yes;">&nbsp; </span>I proclaim that corporate social responsibility enhances organizations&rsquo; overall competitive strength in their markets.<span style="mso-spacerun: yes;">&nbsp; </span>Thus, a firm who adopts, teaches and creates ethical business practices within the organization&rsquo;s internal environment and promotes those strategies in their remote environment, through their value chains, will create profitable long-term value for the organization.<span style="mso-spacerun: yes;">&nbsp; </span>Michael Porter&rsquo;s work of the 1980&rsquo;s, &ldquo;Competitive Strategies,&rdquo; is a method that should be utilized to enhance ethical practices for an organization, through strategic development; however, a research question has emerged.</span></span></p>

Business Environment in West Bengal: An Ethical Issue

Think India ◽  
2016 ◽  
Vol 19 (1) ◽  
pp. 35-41
Author(s):  
Sreekumar Ray
Keyword(s):  
West Bengal ◽  
Balance Sheet ◽  
Business Environment ◽  
Business Practices ◽  
Ethical Business ◽  
Industrial Growth ◽  
Long Run ◽  
Fixed Assets ◽  
Finance Company ◽  
Set Up

Ethics in Business are keywords in any business environment which are lacking in most of the cases. In a broad sense ethics means not to cheat others and to do the business in an honest way, to abide by the rules and regulations of the soil, and above all to keep the morale high so that the business can grow to a new height in long run. Unfair means and unethical business practices to earn money quickly are often fraught with the danger of losing the business permanently or losing the goodwill and respect of society. West Bengal has got bad reputation for industrial growth and fake chit funds and it has been named as ponzy capital of India by many as 72 out of 86 fake chit funds are in the state of West Bengal (as per the Report of Ministry of Corporate Affairs, Govt. of India). On the other hand the micro finance company Bandhan which has got Banking license last year (set up in 2001 in West Bengal) and Eins Edutech the company which was originally incorporated on March 9, 1983, as Ganpat Udyog in West Bengal are worth mentioning and at ease one can feel proud of them. As on 17th April, 2015 the latter company has got market capital of Rs.700 crore with its fixed assets, as per its balance sheet, as only two cell phones and one printer. As per monthly status of Bandhan in February 2015 it has 2,022 branches, 63,66,269 borrowers, 15,956 staff, loan disbursed for the month Rs.1,572 crores, and loan outstanding Rs.8,908 crores. Under such situation, this study focuses on the ethical business environment prevailing in West Bengal and the strategies adopted by them.

The best business practices of Sri Lankan firms

2005 ◽  
Vol 24 (7) ◽  
pp. 622-631
Author(s):  
J.A.S.K. Jayakody ◽  
W.M.A. Sanjeewani
Keyword(s):  
Sri Lankan ◽  
Business Practices ◽  
Best Business Practices

CRITERIA FOR ASSESSING THE SUSTAINABLE DEVELOPMENT OF THE RUSSIAN PUBLIC CORPORATION DURING THE TRANSITION TO THE GREEN ECONOMY

2021 ◽  
Vol 2 (12) ◽  
pp. 90-94
Author(s):  
V. V. Rebrova ◽  
Keyword(s):  
Sustainable Development ◽  
Economic Benefits ◽  
Green Economy ◽  
Business Practices ◽  
Ethical Business ◽  
The Sustainable Development ◽  
Financial Condition ◽  
Public Corporations ◽  
Economic Entity ◽  
Public Corporation

The article gives the author's vision of the sustainable development of a public corporation based on the movement towards "green" growth. The results of the author's research aimed at establishing a link between the financial condition of Russian public corporations and ESG criteria are presented. This is a connection that necessitates the transition to a "green" economy at the level of an individual enterprise, not only for reasons of ethical business practices, but also because of the possibility of extracting financial and economic benefits. The article proves that the application of ESG practice leads an individual economic entity to economic and social prosperity.

Delivering warmth and expediting love: just-in-time CSR in the midst of COVID-19 mega disruption

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Zhiwei (CJ) Lin ◽  
IpKin Anthony Wong ◽  
Shuyi Kara Lin ◽  
Yun Yang
Keyword(s):  
Well Being ◽  
Research Problem ◽  
Media Analysis ◽  
Just In Time ◽  
Business Practices ◽  
Socially Responsible ◽  
Content Type ◽  
Brand Resonance ◽  
Corporate Social ◽  
Crisis Responses

Purpose This study aims to move beyond the current understanding of corporate social responsibility (CSR) to propose the concept of just-in-time (JIT) CSR as a metaphor that reflects hospitality operators’ endeavors to expedite socially responsible measures to both internal and external organizational stakeholders during times when functional and emotional supports are urgently needed. Design/methodology/approach This research used a qualitative approach in two studies. Study 1 engaged a media analysis to better grasp the knowledge of the research problem at hand. Study 2 involved interviews from stakeholders to assess their emotions and perceptions of meanings of major contents discerned from the first study. Findings This research highlights a process in which operators’ CSR practices (e.g. for business practices, for organizational strategy and for stakeholder well-being) during the COVID-19 crisis are imbued with connotative meanings (e.g. place-as-safety, place-as-partnership and place-as-warmth) that ultimately give shape to three core outcomes (e.g. individual rejoinder, brand resonance and societal resilience). Research limitations/implications While JIT CSR is not an antidote for all devastations caused by COVID-19, it is posited as a needed mechanism that operators could use to ameliorate the situation and to go beyond their own stake to bring a broader array of societal benefits to humanity. Originality/value This research underscores how hospitality operators expedite crisis responses to the pandemic, and how their societal objectives transform the image of a place from a commercial venue into a place imbued with meaning associated with safety, partnership and warmth.

scholarly journals Sustainability and Business Outcomes in the Context of SMEs: Comparing Family Firms vs. Non-Family Firms

2018 ◽  
Vol 10 (11) ◽  
pp. 4080 ◽  
Author(s):  
María López-Pérez ◽  
Iguácel Melero-Polo ◽  
Rosario Vázquez-Carrasco ◽  
Jesús Cambra-Fierro
Keyword(s):  
Business Models ◽  
Family Firms ◽  
Medium Size ◽  
Stewardship Theory ◽  
Business Practices ◽  
Socially Responsible ◽  
Business Outcomes ◽  
Proposed Model ◽  
Moderator Role

Society is demanding more sustainable and socially responsible business models. Therefore, the concept of sustainability has become a cornerstone to help understand the success of many firms in the current competitive context. However, the context of SMEs has received little attention thus far. In order to solve this gap this article analyses the links between sustainability practices and business outcomes—both financial and non-financial (i.e., image and reputation)—for small and medium-size enterprises (SMEs). In addition, the study strives to analyze the potential differences between family firms and non-family firms. To this end, a quantitative study is carried out using PLS techniques to analyze a sample of SME owners and managers with a view to testing the proposed model based on the Stewardship Theory and Socioemotional Wealth Theory. In this sense, our study is pioneering in that it aims to assess—from a quantitative viewpoint—the moderator role of family firms on a series of relevant sustainability-driven outcomes. The data suggest that, in SME contexts, sustainability influences the corporate reputation, brand image, and financial value of the company. Importantly, we find that the profile (family vs. non-family) of the firm moderates the links between sustainability and business outcomes. Hence, our findings have important implications for sustainability implementation in SME contexts. Finally, we provide a series of guidelines aimed at maximizing the effectiveness of sustainability-based business practices.

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