This guide to business ethics provides key terms and concepts related to business ethics in a short, easy-to-use format. It provides objective coverage of theories, corporate social responsibility, human resources issues, consumer protection, and ethical issues in marketing and advertising. It is an ideal supplement for business ethics courses or as a reference for students and practitioners who would like to learn more about the basics of business ethics.
Strategy and Ethics
Strategy is commonly understood to be a plan of action adopted by an organization to attain its goals, while ethics can be described as a system of moral values and principles that govern the conduct of an individual or a group. In a business enterprise, strategy reflects a company's pattern of decisions, commitments, and actions undertaken by the company to improve its competitiveness and generate profits for its owners. However, earning a profit is not the only goal of a business. It must provide quality products for its consumers, continued jobs for its employees, and taxes for its government. In the process of formulating and implementing strategies, potential conflicts arise in the goals of the company's various stakeholders such as ...