Professor Andrew Crane on Stakeholder Theory
Crane and Matten
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Business ethics is the study of business situations, activities, and decisions where issues of right and wrong are addressed. Ethics and the law -grey area Defining morality, ethics and ethical theory Morality is concerned with the norms, values and beliefs embedded in social processes which define right and wrong for an individual or a community. Ethics is concerned with the study of morality and the application of reason to elucidate specific rules and principles that determine right and wrong for any given situation. These rules and principles are called ethical theories. The relationship between morality, ethics and ethical theory. Why is business ethics important?
1. Varieties of business ethics
Journal of Business Ethics. This paper reassesses the domain of the business ethics curriculum and, drawing on recent shifts in the business environment, maps out some suggestions for extending the core ground of the discipline. Based on this, the paper identifies potential gaps and new areas for the discipline by drawing on four main aspects. First, it argues that the domain of business ethics requires extensions dependent on the particular geographic region where the subject is taught. A second factor for broadening the scope is the impact of recent scandals, which arguably direct the focus of ethical inquiry towards the nature of the business systems in which individuals and corporations operate. Third, the impact of globalization and its result on growing corporate involvement in regulatory processes is discussed. We conclude by suggesting that a reconsideration of the domain of business ethics, especially in Europe, is timely, but that to do so represents a major challenge to business ethics educators.