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Literature review on ethics in business
Literature review on ethics in business
The role of business ethics in the corporate world
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Introduction
Background
The literature being studied is an article written by Hellen O’ Sullivan, the Director of Scientific Methods Australia. The article entitled “Business ethics are set to set to stage a comeback” was published on the 75th page of The Australian Financial Review on the 6th February 1990.
Literature Review
Basically, the article discussed several important issues about business ethics. One of the most prominent was the remark she made about business ethics making a comeback. The conclusion was made upon the fact that business ethics are becoming more and more popular among business practitioners as the era of ‘Me-generation’, and its obsession with greed and profit at any cost draws to a close.
Besides that, another notable issue addressed was the positive correlation between business ethics and corporate performance. She suggested that recent corporate failures resulted from a singularly motivated strategy of making profits. She also noted that the 1990’s avalanche of corporate collapse could be all attributed directly or indirectly to the decline in business ethics.
The third issue raised was the role of managers or business leaders to actually uphold business ethics. She suggested that the formulation of a sound ethical code of practice should be a part of every company’s strategy and that it is the first responsibility of every business leadership.
Procedures
I have made a research regarding the issues identified in the literature mainly through a computer-assisted research service - LEXIS-NEXIS Academic Universe at http://www.lexis-nexis.com/universe. From this particular research I have gathered altogether sixteen (16) articles. These articles are published in various journals, namely The Economist, Harvard Business Review, Time, Newsweek, Information Week, Accounting Age, PR Week, Business Mexico, The National Journal, Fleet Owner as well as Malaysian Business. All these articles are written by reputable authors, who are either academician or practitioners.
Besides that, I also did some library research. From here, I have chosen two (2) books on Strategic Management, which have sections and topics relevant to the issues addressed in the main literature.
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...R., PR Week, 11th December.
8) George, T., (2001), Managers, Staff Differ (Slightly) on Ethics, Information Week, 19 February, pp. 140.
9) Harvard Business Review (1996), The Culture and Ethics of Software Privacy, September/October, pp. 52
10) Harvard Business Review, (1996), Values in Tension: Ethics Away from Home., September/October, pp. 48.
11) Hill, C. W. L. & Jones G. R. (1998), Strategic Management; An Integrated Approach, 4th Ed., Houghton Mifflin Company: Boston, New York
12) Klien, R., (2001), Torn Between Profit and Purity, The Times Educational Supplement, 16th March, pp. 22.
13) Malaysian Business, (1997), Eliminating the Parasites, 16th January, pp. 1
14) The Economist (1999), US Edition, Sweatshop wars, 14th February, pp. 62
15) The Economist, (2000), US Edition., Doing Well by Doing Good., 22nd April.
16) Wallace, B., (2001), Cell Phones Trigger Litigation Risks and Ethical Choices, Information Week, 19th February.
17) Wheelen, T. L. & Hunger, J. D., (1995), Strategic Management & Business Policy., Addison-Wesley Publishing Company Inc.
18) Zaino, J., (2001), Companies Give Back to Their Communities, Information Week, 12th March, pp. 163.