Journal Of Business Ethics On JSTOR

Publishes original articles from a wide variety of methodological and disciplinary perspectives concerning ethical issues related to business. The firm anti-corruption position of the World Bank and the many global anti-corruption initiatives of other world bodies are increasingly exposing the practice of bribery in an effort to control it. The 29 OECD countries have committed themselves to criminalizing the bribery of foreign public officials in their domestic laws by signing the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, in Paris on December 17, 1997.

The philosophy of business also deals with questions such as what, if any, are the social responsibilities of a business; business management theory; theories of individualism vs. collectivism; free will among participants in the marketplace; the role of self interest; invisible hand theories; the requirements of social justice; and natural rights, especially property rights, in relation to the business enterprise.

I also have the sense that this is a relatively recent consideration: especially in the field of marketing, the notion of an ongoing relationship seems to be a relatively recent one – or perhaps the popularity of the notion is only increased of late, as it seems to be that many people in business have considered relationships long before it was fashionable to do so. As such, the notion of relationship and its impact on ethics may be a largely unexplored topic.

Proponents of societal ethics tend to represent social ethics as being opposed to society – that acting in self-interest is done with disregard for the welfare of others – and therefore an individual who does not subordinate themselves to service of the society is anti-social, perhaps even to the degree of being sociopathic or seeking primarily to harm others.

Prioritizing business interest means ignoring the moral issues for the sake of short term profit but it means losing customers in the long run.. Prioritizing moral issues means doing what is good and bad, right and wrong in doing business related to customer, society and environment or in other words, its social responsibility can improve the image of the company, even if short term profit is reduced.