Business Ethics Case Study

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Business Ethics : A Review & Future Directions

Introduction
Business ethics is a complex and multifaceted subject. Being ethical requires making clear distinctions between “the right” and “the wrong” and then choosing the “right”. Some ethical issues are easy to be identified (example – bribery, child labor) while many others are too complex (example – hiring low wage foreign workers while own population is unemployed). A universal definition of business ethics may not be practical. This necessitates the understanding of good business ethics in the context of the issue being considered.

This research work focus on current understanding of business ethics by exploring available definitions and categorization. While discussing how business …show more content…

As explained earlier, choosing what is right (or what is wrong) ethically, is not always easy. Managers at times push themselves to limits when it comes to the grey areas of business ethics. Such a case is explained by De Cremer & de Bettignies (2013) highlighting that in real life business, many implicit norms and expectations motivates business managers pushing them across ethical boundaries resulting in unethical behaviors. They further say that the greed and competiveness adds momentum to this push while being in the grey areas of decision making. It may be noted that all legal actions need not be ethical. Hence, educating managers in understanding the difference between ethical standards and laws is essential in any business organizations. The good (or bad) outcomes of managerial decisions are not just reflected back to the individual who makes it, but is felt on the organization as a …show more content…

Viinamaki (2012) agrees to this view and suggests that value-based leaders shall carry the responsibilities of establishing ethical standards and goals, rewarding achievers with ethical conduct, and punishing defaulters of ethical standards and

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