Business <i>and</i> Ethics?

Julie A. Nelson

in Economics for Humans

Published by University of Chicago Press

Published in print October 2006 | ISBN: 9780226572024
Published online February 2013 | e-ISBN: 9780226572055 | DOI:
Business and Ethics?

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This chapter reviews the factual issues that arise at an organizational level. It argues that ethical behavior is neither intrinsically at odds with organizational profit making nor guaranteed by nonprofit goals. It specifically presents the definition of profits and factual issues related to business. The issue of how motivations are converted into action within organizations is explained. Moreover, the facts showing that the profit maximization is forced on corporations by law and by market pressures are evaluated. The view of businesses as social organizations goes so deeply against the grain of much popular thinking that further objections must be addressed. The for-profit businesses, as well as the nonprofits and government-run programs have to meet a budget. All sorts of organizations require an active attention to ethics and oversight from concerned outside groups.

Keywords: organizational profit making; ethical behavior; profit maximization; factual issues; for-profit businesses; corporations; government-run programs

Chapter.  8016 words. 

Subjects: Economics

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