By Edwin M. Epstein (auth.), Laszlo Zsolnai, Zsolt Boda, Laszlo Fekete (eds.)
Ethical clients: economic system, Society and Environment goals to provide and summarize new views and modern ends up in ethics reflecting on interconnected financial, social and environmental concerns. The yearbook experiences on leading edge practices and coverage reforms and gives a discussion board for dialogue approximately groundbreaking theories. the most functionality of the yearbook is to give principles and projects that lead towards in charge company practices, regulations for the typical reliable and ecological sustainability. It seeks shape a value-community of students, practitioners and policymakers engaged in real ethics in enterprise, environmental administration, and public policy.
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Additional info for Ethical Prospects: Economy, Society, and Environment
Sample text
This perspective is attributed to Adam Smith (Smith, The Wealth of Nations) but in fact is only part of Smith’s overall message that individual well-being can only occur where there exists underlying “sympathy” or recognition of a common good (Smith, The Theory of Moral Sentiments). Otherwise, we would live in an anarchial Hobbisian society – “nasty, brutish and short” – to the detriment of all. This broader Smithian perspective views self-interest as appropriate but an approach which must be “enlightened” by a broader perspective.
All six factors discussed above, individually and in combination are critical to achieving socially responsible corporate behavior. 9 Ethical Prospects 3. ” My basic thesis is that ethical teachings and “corporate social responsibility” although necessary, even essential, factors in achieving “good companies,” are inherently insufficient. In descending order of importance, law, affinity regulation, self-regulation, the media and active civil society all play critical roles in achieving socially beneficial corporate behavior.
Guidelines for Multi-National Enterprises, the UN Global Compact, and the European Commission “Green Paper” on Social Responsibility, articulate desirable norms for corporate behavior, their provisions are often quite general and have no enforcement mechanisms. They are aspirational precepts rather than operational standards. As a practical matter, it often comes down to companies striving to achieve some balance between the legal requirements and informal expectations which prevail in their home countries and the legal requirements and norms which exist in the overseas setting.