Business Ethics: Four Spheres of Executive Responsibility

The fall of Enron, Lehman Brothers and other major financial institution in the world make researchers conduct various studies about crisis. The research question in this study is, from Islamic economics and business standpoint, why the global financial crisis can happen repeatedly. The purpose is to contribute ideas regarding Islamic viewpoint linked with the global financial crisis. The methodology used is a theoretical-reflective to various article published in academic journals and other intellectual resources with relevant themes. There are lots of analyses on the causes of the crisis. For discussion purposes, the causes divide into two big parts namely ethics and systemic. Ethics contributed to the crisis by greed and moral hazard as a theme that almost always arises in the study of the global financial crisis. Systemic means that the crisis can only be overcome with a major restructuring of the system. Islamic perspective on these two aspect is diametrically different. At ethics side, there is exist direction to obtain blessing in economics and business activities. At systemic side, there is rule of halal and haram and a set of mechanism of economics system such as the concept of ownership that will early prevent the seeds of crisis. Keywords: Islamic economics and business, business ethics, financial crisis

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Ethical Issues in the Fast Fashion Industry

Journal of Business and Economics ◽

10.15341/jbe(2155-7950)/08.09.2018/003 ◽

2018 ◽

Vol 9 (8) ◽

pp. 660-665

Author(s):

Chi Sheh ◽

◽

Peng Chan ◽

Wen Jun Sim ◽

◽

...

Keyword(s):

Business Ethics ◽

Conceptual Model ◽

Ethical Issues ◽

Real Life ◽

Time Frame ◽

Fashion Industry ◽

Fast Fashion ◽

Life Event ◽

Real Cost ◽

Literature Reviews

Fast fashion is becoming more and more popular nowadays and this industry is growing rapidly. In order to supply to the big demand of fast fashion clothing, company will need to increase the production of the clothing in shorter time frame. Besides that, to out beat the competitor, company will provide more choices of clothing in cheaper price to the customers. By practicing these actions to increase the business profits, company is behaving unethical to the manufacturer of the cloth. Most consumers are not aware of these ethical issues. This paper is will used and tested the conceptual model of fast fashion business ethics based on literature reviews. The finding from this paper will manifest the “real cost” of a cheap and branded fast fashion clothing and will be supported by real life event that happened. However, after realizing the problems, some company did make some changes and the solutions are stated in the paper as well.

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