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Evolution of Business Ethics: Principles, Values, and Performance

This chapter delves into the historical foundations and evolution of business ethics, exploring how ethical value systems support business performance and address misconduct in the workplace. It discusses organizational principles, values, and norms that guide business behavior and the development of an ethical culture at a global level.

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Evolution of Business Ethics: Principles, Values, and Performance

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  1. Chapter 1The Importance of Business Ethics

  2. Learning Objectives Explore conceptualizations of business ethics from an organizational perspective Examine the historical foundations and evolution of business ethics Provide evidence that ethical value systems support business performance Gain insight into the extent of ethical misconduct in the workplace and the pressures for unethical behavior

  3. Business Ethics • Organizational principles, values, and norms that originate from individuals, organizational statements, or from the legal system • Guide individual and group behavior in business • Principles: Specific boundaries that should not be violated • Values: Existing beliefs and ideals that are socially enforced • Ethics - Behavior or decisions made within a group’s values

  4. Figure 1.1 - Global Trust in Industry Sectors

  5. Issues to Be Addressed to Prevent Misconduct

  6. Reasons for Studying Business Ethics

  7. Table 1.1 - Timeline of Ethical and Socially Responsible Concerns

  8. Stages of Development of Business Ethics

  9. Stages of Development of Business Ethics (continued)

  10. Developing an Organizational and Global Ethical Culture • Ethical culture: Acceptable behavior as defined by the company and industry that captures the values and norms of the company • Encourages the use of principles for ethical reasoning • Companies are creating ethics programs for their employees and appointing ethics officers to oversee them • Businesses are working together to establish global standards of acceptable behavior

  11. Figure 1.2 - The Role of Organizational Ethics in Performance

  12. Benefits of Business Ethics

  13. Benefits of Business Ethics (continued)

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