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The Oz Principle examines the role of accountability in the achievement of business results and the improvement of both individual and organizational performance.The Oz Principle presents a new understanding and a paradigm shift in how accountability is understood.
For example, in social science, the term is used to describe the set of experiences, beliefs and values that affect the way an individual perceives reality and responds to that perception. Social scientists have adopted the Kuhnian phrase "paradigm shift" to denote a change in how a given society goes about organizing and understanding reality.
Business ethics operates on the premise, for example, that the ethical operation of a private business is possible—those who dispute that premise, such as libertarian socialists (who contend that "business ethics" is an oxymoron) do so by definition outside of the domain of business ethics proper. [citation needed]
A paradigm shift is a fundamental change in the basic concepts and experimental practices of a scientific discipline. It is a concept in the philosophy of science that was introduced and brought into the common lexicon by the American physicist and philosopher Thomas Kuhn .
Macroethics (from the Greek prefix "makros-" meaning "large" and "ethos" meaning character) is a term coined in the late 20th century [1] to distinguish large-scale ethics from individual ethics, or microethics. It is a type of applied ethics. Macroethics deals with large-scale issues, often in relation to ethical principles or normative rules ...
An example of a paradigm would be the geocentric model of the universe; an example of a paradigm shift would when the heliocentric model began taking over due to irrefutable evidence (largely from Galileo Galilei, Johannes Kepler, and Isaac Newton). In Kuhn's model, these three would be revolutionary scientists, because they changed the model.
In business ethics, Ethical decision-making is the study of the process of making decisions that engender trust, and thus indicate responsibility, fairness and caring to an individual. To be ethical, one has to demonstrate respect, and responsibility. [ 1 ]
Friedman introduced the theory in a 1970 essay for The New York Times titled "A Friedman Doctrine: The Social Responsibility of Business is to Increase Its Profits". [2] In it, he argued that a company has no social responsibility to the public or society; its only responsibility is to its shareholders. [2]