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When discussing management ethics, it is natural to focus on the management of business as many schools of management have done. However, nearly all organizations need managers-universities, not-for-profits, sports teams, and government agencies. Thus, management ethics covers a wider terrain than business ethics. Although the emphasis in this entry will be on the ethical management of a business, many of the comments here are generalizable to ethical management in general.

Managing for Shareholder Wealth

The starting point for ethical management should be role morality. Role morality is the morality of one's station and its duties. The duties of one's station are determined by the purpose of the organization. Suppose we take the traditional starting point for the purpose of a corporation. Milton Friedman's position is the standard: ...

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