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Hypo Real Estate: Germany: 5 October 2009: Banking: Depfa, one of the companies subsidiaries ran into liquidity problems in 2008 as a result of the financial crisis. This combined with heavy losses reported by Hypo Real Estate itself led to a bailout by the Deutsche Bundesbank and later to a complete nationalization of the company. Schlecker ...
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.
Some examples of moral entrepreneurs include: Mothers Against Drunk Driving (MADD), the anti-tobacco lobby, the gun-control lobby, anti-pornography groups, Black Lives Matter and LGBT social movements. [citation needed] Pro-life and pro-choice movements are an example of two moral entrepreneurs working against each other on a single issue.
From an ethical perspective, some businesses will adopt CSR policies and practices because of the ethical beliefs of senior management: for example, the CEO of outdoor-apparel company Patagonia, Inc. argues that harming the environment is ethically objectionable.
Business ethics implementation can be categorized into two groups; formal and informal measures. Formal measures include training and courses pertaining to ethics. Informal measures are led by example from either the manager or the social norm of the company. [12] There are several steps to follow when trying to implement an ethical system.
According to Aristotle, how to lead a good life is one of the central questions of ethics. [1]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.
Some ethical considerations which may become apparent in the durability of contracts are cultural relativism and moral relativism. Grace and Cohen (2005, 200) describe cultural relativism as the extent to which different societies and cultures have different values and ethical standards in the fields of business and organisational life.
Descriptive ethics, also known as comparative ethics, is the study of people's beliefs about morality. [1] It contrasts with prescriptive or normative ethics, which is the study of ethical theories that prescribe how people ought to act, and with meta-ethics, which is the study of what ethical terms and theories actually refer to.