What Can Eastern Philosophy Teach Us About Business Ethics?

This paper examines what, if anything, "Eastern philosophy" can teach us about business ethics. The whole idea of "Eastern ethics" or so-called "Asian values" is suspect on a number of scores. The paper argues that It is better to refer to specific ideas of particular thinkers influential within one country or tradition. The paper concentrates on the philosophy of two such thinkers – Watsuji Tetsuro of Japan and Confucius. When this more "micro" approach is adopted, we can learn some important lessons with respect to the meaning of trust, the longterm nature of relations, and ethics that extend far beyond the limited idea of rights. The paper considers these lessons in the business context.     

Development Through Business: What Do American Business Students Know About Emerging Markets and Opportunities in Africa?

This article investigates how Africa is taught in business and examines African and American student perspectives on business in Africa. Conclusions find that African students, business students or not, had more knowledge about business and economic structures than American business students; however, learning about successful case studies on business in Africa proved to motivate both students and faculty. The nexus between international development and business is emphasized and training business students to seek potential partnerships with African businesses is underscored. The article ends with educational recommendations and cites the advantages of introducing students to emerging opportunities in business on the continent.     

Is Confucianism Good for Business Ethics in China?

This article examines whether and to what extent Confucianism as a resilient Chinese cultural tradition can be used as a sound basis of business practice and management model for Chinese corporations in the twenty-first century. Using the core elements of Confucianism, the article constructs a notion of a Confucian Firm with its concepts of the moral person (Junzi), core human morality (ren, yi, li) and relationships (guanxi), as well as benign social structure (harmony), articulated in corporate and organizational terms. The basic character of the Confucian Firm is described, and its philosophical and cultural foundation is critically assessed with respect to its moral legitimacy and relevant to today’s China. China’s recent Corporate Social Responsibility (CSR) development is a high profile response to global business ethics concerns. Efforts have been made to emulate and develop good business practice fashioned in CSR norms and visions. The so-called “human-based” and “virtue-based” business practices rooted in local cultural heritage have been touted as a Chinese response to this problem. This investigation is particularly relevant in the context of the increasingly prominence of the Chinese corporations (China Inc.) in the wake of the rise of China as a global power. How relevant is Confucianism to the building of a modern Chinese corporation that is willing and able to practice reasonable norms of business ethics? The findings of this discussion, which include the organizational implications of the Confucian familial collectivism, have implications for other Chinese communities (Taiwan, Hong Kong, and Singapore) where Confucian tradition is endorsed and practiced.     

Should Business Ethics Be Different in Transitional Economies?

This paper builds on a debate between Velasquez and Fleming: Do multinational enterprises (MNEs) have ethical obligations to their host countries? Velasquez applies Thomas Hobbes' realism approach in arguing that MNEs have no special moral obligations to host countries: (a) obligations do not exist independently in a "state of nature," (b) MNEs exist in a "state of nature" independent of any sovereign authority or power, (c) therefore, MNEs cannot be compelled toward moral or ethical behavior. Fleming counters that the lack of an international authority to compel morality from MNEs is irrelevant. MNEs are for-profit entities making rational economic decisions based on their perceived self-interest. Since they operate in "the goldfish bowl of international media," MNEs are very aware of the stakeholder model. First, the paper supports Fleming's position: Even if a philosophical case cannot be established for MNEs to act ethically &;#x2013; they still should. Being unethical in any arena, but especially in the international arena, is both bad-for-business and bad business. Applying stakeholder theory, if stakeholders perceive the MNE as unethical (which may or may not be true), the firm will ultimately lose business. Next, the paper applies Fleming's position to transitional economies. As economies shift from one system to another, positive perceptions and stakeholder support are required for success. With so many environmental variables in flux, multinationals must promote a sense of normalcy, of regular ethical habits, of familiarity. Finally, the paper concludes by cautioning a sole reliance on stakeholder analysis &;#x2013; especially in turbulent times &;#x2013; and recommends areas for further research.     

Teaching Business Ethics with Computer-based Multimedia? A Cautionary Analysis

Still shots, videos, music, and movie clips can be helpful in bringing some excitement to the study of business ethics. For several years, Professor McAdams has been using The Great Gatsby as a text for discussing American commercial values. That discussion serves as an introduction to a larger examination of contemporary business ethics. Recently, Professor Duclos and her students converted that socratic exploration of Gatsby's contemporary relevance to a PC-based, multimedia show employing the efficient and manageable PowerPoint software presentation package. Computer-based multimedia added flavor to the presentation, but developing this lengthy lesson required hundreds of hours, substantial hardware/software and a high tolerance for frustration.     

The Relevance of Ancient Greeks to Modern Business? A Dialogue on Business and Ethics

What follows is a dialogue, in the Platonic sense, concerning the justifications for "business ethics" as a vehicle for asking questions about the values of modern business organisations. The protagonists are the authors, Gordon Pearson – a pragmatist and sceptic where business ethics is concerned – and Martin Parker – a sociologist and idealist who wishes to be able to ask ethical questions of business. By the end of the dialogue we come to no agreement on the necessity or justification for business ethics, but on the way discuss the uses of philosophy, the meanings of integrity and trust, McDonald's, a hypothetical torture manufacturer and various other matters.     

Social Entrepreneurship and Business Ethics: Does Social Equal Ethical?

This editorial to the special issue addresses the often overlooked question of the ethical nature of social enterprises. The emerging social entrepreneurship literature has previously been dominated by enthusiasts who fail to critique the social enterprise, focusing instead on its distinction from economic entrepreneurship and potential in solving social problems. In this respect, we have found through the work presented herein that the relation between social entrepreneurship and ethics needs to be problematized. Further, we find that a range of conceptual lenses and methodological approaches is valuable as the social entrepreneurship field matures.     

What Makes a New Business Start-Up Successful?

This paper seeks a good measure of new business performance, and then explains this measure by various dimensions of business strategy. Three criteria are used to create a one dimensional ordinal ranking of high, medium and low performance for new business starts: employment growth; return on capital employed; and labour productivity. It is shown that statistical cluster analysis provides a convincing separation of a sample of new business starts into high, medium and low performance categories, using a minimum distance criterion for clustering. An ordinal logit model (with selection) is then used to explain this performance ranking. The results indicate that many widely discussed features of small business strategy have little, or even negative, impact on performance. Of the numerous aims that owner managers may adopt (survival, growth etc.), only one appears to have a major impact on performance; the pursuit of the highest rate of return on investment. Many entrepreneurial perceptions of their own capabilities appear false or unimportant, with the exception of organisational features and systems.     

How Can Business Ethics Strengthen the Social Cohesion of a Society?

The essay aims to show how business ethics—understood as a three-level approach—can strengthen the social cohesion of a society, which is jeopardized today in many ways. In the first part, the purpose of business and the economy is explained as the creation of wealth defined as a combination of private and public wealth that includes natural, economic, human, and social capital. Special emphasis is placed on the implications of the creation of public wealth which requires institutions other than the market and motivations other than self-regarding ones. In the second part, the question of what holds a society together is discussed through different approaches: enlightened self-interest, a new game-theoretical approach, and the concept of the common good advanced by Catholic Social Teaching, followed by my own proposal. The third part presents several perspectives for business ethics to strengthen social cohesion of a society (a) by focusing on the purpose of business and the economy to create natural, economic, human, and social capital; (b) by advancing public goods that stand the test of ethical scrutiny; and (c) by securing human rights conceptualized as public goods.     

Leadership and Business Ethics: Does It Matter? Implications for Management

This paper reviews the relationship between organisational leadership, corporate governance and business ethics, and considers the implications for management. Business ethics is defined, and the causes and consequences of unethical behavior are discussed. Issues pertaining to leadership, subordinate and organisation responsibility for business ethics are considered. The changing role of business leaders and the new concept of 'corporate governance' are examined, with an increasing importance being placed on ethical and socially responsible attitudes towards business. Organisational effectiveness and organisational efficiency, formerly central issues for practising managers, with directors thinking in terms of goal achievement for their respective organisations, have now been augmented by an awareness of issues in business ethics, and a requirement for members of the corporate governance to behave in more socially responsible ways. A secondary aim of the paper is to introduce an approach which illustrates how corporate governance and management could deal with some of the moral dilemmas that they may have to face.     

Ethics in Nanotechnology: What’s Being Done? What’s Missing?

Nanotechnology shows great promise in a variety of applications with attractive economic and societal benefits. However, societal issues associated with nanotechnology are still a concern to the general public. While numerous technological advancements in nanotechnology have been achieved over the past decade, research into the broader societal issues of nanotechnology is still in its early phases. Based on the data from the Web of Science database, we applied the main path analysis, cluster analysis and text mining tools to explore the main research fronts and hierarchical structure of these societal issues. We found that the research studies fell into four categories: “General Toxicity and EHS (Environment, Health and Safety),” “Medicine and Cytotoxicity,” “Assessment and Regulation,” and “Environment and Ecotoxicity.” These research studies have disclosed much information about the potential effect of nanotechnology on public health and the environment. Relatively speaking, the studies on the assessment, regulation, preventive solutions, and environmental protection are just emerging. This finding indicates that an abundance of effort should be conducted on these emerging themes to maximize the benefits of nanotechnology while minimizing its potential harm. The implications for various parties in this domain are also presented.     

Hume’s Theory of Business Ethics Revisited

Hume’s examination of the conventions of property, trade, and contract addresses the moral foundations that make business possible. In this light, Hume’s theory of justice is also a foundational work in business ethics. In Hume’s analysis of these conventions, both philosophers and game theorists have correctly identified “proto” game-theoretic elements. One of the few attempts to offer a Humean theory of business ethics rests on this game-theoretic interpretation of Hume’s argument. This article argues that game-theoretic reasoning is only one part of a Humean business ethics and this can be shown by further analyzing Hume’s theory of justice. As we examine his theory, it becomes clear that Hume is not trying to show how it is always rational to respect the rules of business. Hume is not engaging in, or attempting, a reconciliation project and neither is a Humean business ethics. The final section of the article is a brief Humean analysis of the effectiveness of codes of ethics. The purpose of this section is not to decide the issue but to show how a Humean approach is both useful, relevant, and involves more than reconciling rationality and morality.     

What Can China Do About Health Products Industry?

We now watch advertisement on health products,beauty and body care products everyday everywhere,which actually shows how big the industry is and will be, Yu Xiucheng,former deputy director of Science& Technology and Education Department of Ministry of Health (MOH) said.     

Business Ethics and the Well-Being of Nations – Is There a Connection?

The aim of this paper is to examine whether and how business ethics is connected with the well-being of a nation. There has been active research in the well-being of nations across the globe in the last two decades, resulting in substantial theoretical progress and a wealth of empirical data on the well-beings of different nations across the globe. Dissatisfied with the conventional measures such as the GDP, well-being researchers have been developing alternative measures that can better capture the true nature of the well-being of a country. The paper begins by examining why the GDP is inadequate as a good measure of the well-being of a country. Major alternative proposals on well-being or similar measures are summarized. Objective well-being of a nation refers to the conditions of well-being of a country. Subjective well-being of a nation is the perceptions of its citizens with regard to their satisfaction with the major conditions of living in that nation. The paper presents two central arguments leading to the conclusion that business ethics is an integral part of the well-being of a country. The first argument utilizes the concept of workplace well-being to establish the linkage. The second argument uses evidence from a recent survey of the perceptions of Taiwanese people on business ethics in relation to the well-being of a nation. The paper also reveals that common values tie the two together at a deeper level.     

What Does it Mean when Mitchell Gets an ‘A’ in Business Ethics? or the Importance of Service Learning

In this essay I show that business needs business school graduates who are capable of ethical business action. Thus, business ethics courses should help students develop the capacities and skills they will need to act ethically at work. Towards this developmental end, I list eight steps business ethicists can take to implement service learning in their courses. I show how service learning in the classroom can be combined with a college honorary program to promote ethical business actions in students.     

Business Ethics Auditing – More Than a Stakeholder's Toy

The explosion of interest in responsible corporate citizenship since 1995 has reminded many of the earlier rapid development of interest in environmental management issues. Active stakeholders and lobby groups have successfully exerted pressures on management for improved corporate behaviour. The paper looks at some recent initiatives and draws conclusions about the imprecise terminologies in use. It moves on to consider tools to better manage business risk exposures within the corporation. The example of the Business Ethics Strategic Survey is described, together with the attendant benefits it can deliver to company chairmen, Audit Committees and investment fund managers.