Economic Criteria Versus Ethical Criteria toward Resolving a Basic Dilemma in Business

Today's headlines suggest that economic criteria alone is the basis for business decision-making. This paper argues that while profitability is a legitimate end of business, it must be moderated by ethical considerations. But can business be both successful and ethical? Practical examples highl...

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Bibliographic Details
Published in:Journal of business ethics 1994-01, Vol.13 (1), p.71-78
Main Authors: O'Neil, Robert F., Pienta, Darlene A.
Format: Article
Language:English
Subjects:
Automobile manufacturers
Business ethics
Business structures
Businesspeople
Chief executive officers
Compensation plans
Conflicts of interest
Corporate culture
Corporations
Decision making
Economic theory
Economic value
Employee development
Employees
Ethics
Executive compensation
Laboratories
Morality
Organizational behavior
Profit
Quality of life
Self interest
Stockholders
Studies
Wages & salaries
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Summary:Today's headlines suggest that economic criteria alone is the basis for business decision-making. This paper argues that while profitability is a legitimate end of business, it must be moderated by ethical considerations. But can business be both successful and ethical? Practical examples highlight individuals who chose profitability over ethical responsibility and those who chose and continue to choose both. The authors propose that there is an ethical person profile. Corporate managers can resolve the profits vs ethics dilemma by modeling ethical behavior.
ISSN:0167-4544
1573-0697
DOI:10.1007/BF00877157