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t. e. Business ethics (also known as corporate ethics) is a form of applied ethics or professional ethics, that examines ethical principles and moral or ethical problems that can arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. [1]
Friedman doctrine. The Friedman doctrine, also called shareholder theory, is a normative theory of business ethics advanced by economist Milton Friedman which holds that the social responsibility of business is to increase its profits. [1] This shareholder primacy approach views shareholders as the economic engine of the organization and the ...
Norman E. Bowie (born 1942) is professor emeritus at the University of Minnesota. Until his retirement in 2009 he was Elmer L Andersen Chair of Corporate Responsibility and served in the departments of strategic management and of philosophy. He is an important voice in ongoing debates over business ethics, in which his own voice has been in ...
The Four-Way Test. The Four-Way Test of the things we think, say or do is a test used by Rotarians world-wide as a moral code for personal and business relationships. The test can be applied to almost any aspect of life. [ 1 ] The test was scripted by Herbert J. Taylor, an American from Chicago, as he set out to save the Club Aluminum Products ...
The stakeholder theory is a theory of organizational management and business ethics that accounts for multiple constituencies impacted by business entities like employees, suppliers, local communities, creditors, and others. [1] It addresses morals and values in managing an organization, such as those related to corporate social responsibility ...
A code of practice is adopted by a profession (or by a governmental or non-governmental organization) to regulate that profession. A code of practice may be styled as a code of professional responsibility, which will discuss difficult issues and difficult decisions that will often need to be made, and then provide a clear account of what behavior is considered "ethical" or "correct" or "right ...
Ethics, also called moral philosophy, is the study of moral phenomena. It is one of the main branches of philosophy and investigates the nature of morality and the principles that govern the moral evaluation of conduct, character traits, and institutions. It examines what obligations people have, what behavior is right and wrong, and how to ...
The Institute for Business and Professional Ethics (IBPE) is a business ethics research and development center within the Driehaus College of Business at DePaul University in Chicago, Illinois. It was founded in 1985 in a joint effort between DePaul University's College of Liberal Arts & Social Sciences and Driehaus College of Business to ...
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