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Stakeholder theory. The stakeholder theory is a theory of organizational management and business ethics that accounts for multiple constituencies impacted by business entities like employees, suppliers, local communities, creditors, and others. [ 1] It addresses morals and values in managing an organization, such as those related to corporate ...
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. [citation needed]
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. It examines what obligations people have, what behavior is right and wrong, and how to ...
The Friedman doctrine, also called shareholder theory, is a normativetheory of business ethicsadvanced by economist Milton Friedmanwhich holds that the social responsibility of business is to increase its profits.[1] This shareholder primacyapproach views shareholders as the economic engine of the organization and the only group to which the ...
Ethical leadership is leadership that is directed by respect for ethical beliefs and values and for the dignity and rights of others. It is thus related to concepts such as trust, honesty, consideration, charisma, and fairness. [ 1][ 2] Ethics is concerned with the kinds of values and morals an individual or a society finds desirable or ...
Contemporary ethics. Ethics is, in general terms, the study of right and wrong. It can look descriptively at moral behaviour and judgements; it can give practical advice (normative ethics), or it can analyse and theorise about the nature of morality and ethics. [1]
Philosophy of business. The philosophy of business considers the fundamental principles that underlie the formation and operation of a business enterprise; the nature and purpose of a business, and the moral obligations that pertain to it.
Virtue ethics is a form of ethical theory which emphasizes the character of an agent, rather than specific acts; many of its proponents have criticised Kant's deontological approach to ethics. Elizabeth Anscombe criticised modern ethical theories, including Kantian ethics, for their obsession with law and obligation. [86]