İŞLETME ETİĞİ

Ethics

Financial

Meeting demands of business stakeholders

Democracy

Individual

Stakeholders

Ethics before the 1960s

Human rights issues

dilemmas

Utility-based ethics

As it could be interpreted from that explanation, ethics is a discipline that answers certain kinds of questions such as what is right, what is good, and what is a good life. Also, it is a set of principles that are both standards and expectations for behavior generally accepted in society. As a result of this common sense, ethical behaviors like honesty, not stealing, helping people, and respecting the rights of others are desirable behaviors that help to organize life everywhere (Jennings, 2009). In this sense, ethics is the ultimate reference point and justifcation for people that create and supervise social norms and values, as well as right and wrong actions (Becker, 2019).

The instrumental perspective explains the functional extension of ethics for business. Most businesses implement ethical norms optimally just for supporting business success and use it as a tool for business strategies, operations, and organizational design.

As the business ethics is an important issue of concern for the public (Carroll, Brown and Buchholtz, 2018, p. 184) behaviors such as well adopted ethical understanding upon integrity, accountability, honesty, trust, fairness, responsibility, cooperation, mutuality, professionalism and open communication (Su, 2014, p. 88) could provide benefits for not only business but also for all stakeholders.

There are many potential ethical issues including harassment, accounting fraud, defective product, abusive behavior, bribery, product knockoffs, misuse of company sources, confict of interest and such circumstances treat not only stakeholders but also businesses

Value:   In general, values are beliefs or standards that incline us to behave or choose in one way rather than another.

Law: With a general understanding it’s possible to define law as the formal written rules of society what constitutes right and wrong actions in different areas of life.

Ethics before the 1960s: This period refers to a wide time span extending to the industrial revolution. This period can be interpreted as a process in which important social developments took place and ethical issues were mainly addressed from a religious perspective. It is thought that previous religious approaches contributed to the foundation of today’s business ethics

Ethics in the 1990s: In this period, business ethics practices started the institutionalization process in the face of unethical behaviors of businesses from the 80’s, and various ethical compliance programs have been implemented in order to spread ethical behavior among businesses. On the other hand, the businesses that didn’t follow the ethical compliance programs were penalized (Ferrell, Fraedrich and Ferrell, 2017).

Utilitarianism is an approach that puts the benefit to the center of all human behaviors and defends that the basic element that motivates people for an activity is the benefit.

In general terms, contract theory discusses the creation of formal and informal arrangements that enable persons with competing interests to take mutually beneficial steps.