The author emphasizes the need for business ethics due to the recent business scandals and the effect of these incidents on public opinion, and provides suggestions for handling dilemmas by combining good ethics with good business.

This paper examines the advent of the Web as a critical media tool in the promotion and sale of goods to consumers and the ethical questions it raises that are issues of public policy. We examine four traditional ethical rationales that guide organizational decision-making – utilitarianism, distributive justice, moral rights of man and relativism, further characterized as "ends-based", "equity-based", "rules-based" and "comparison-based" rationales – and we apply them to four moral dilemmas attributed to the proliferation of dot.com companies as they (...) relate to consumer welfare. We find that ethical rationale in the New Media is largely non-existent, and where it exists, it is primarily reactive and driven by utilitarian or relativistic reasoning. We attribute this condition to the newness of the industry and to its economic context, representing, as it does, many characteristics embodied in the concept of the "perfect market." We offer some remedies to improve ethical conduct by e-business. (shrink)

The professions have focused considerable attention on developing codes of conduct. Despite their efforts there is considerable controversy regarding the propriety of professional codes of ethics. Many provisions of professional codes seem to exacerbate disputes between the profession and the public rather than providing a framework that satisfies the public''s desire for moral behavior.After examining three professional codes, we divide the provisions of professional codes into those provisions which urge professionals to avoid moral hazard, maintain professional courtesy and serve the (...) public interest. We note that whereas provisions urging the avoidance of moral hazard are uncontroversial, the public is suspicious of provisions protecting professional courtesy. Public interest provisions are controversial when the public and the profession disagree as to what is in the public interest. Based on these observations, we conclude with recommendations regarding the content of professional codes. (shrink)

Because work looms so large in our lives I believe that most of us don't reflect on its importance and significance. For most of us, work is well – work, something we have to do to maintain our lives and pay the bills. I believe, however, that work is not just a part of our existence that can be easily separated from the rest of our lives. Work is not simply about the trading of labor for dollars. Perhaps because we (...) live in a society that markets and hawks the fruits of our labor and not the labor itself, we have forgotten or never really appreciated the fact that the business of work is not simply to produce goods, but also to help produce people. We need work, and as adults we find identity and are identified by the work we do. If this is true then we must be very careful about what we choose to do for a living, for what we do is what we'll become. (shrink)

Turning around and changing an organization's culture does not happen by chance. The purpose of this paper is to offer insights into what is needed for an organization to successfully transform itself from a culture and experience that does not support individual ethical behavior. The recent bond trading scandal at Salomon Brothers will be used to demonstrate that a successful ethical turnaround does not just happen spontaneously. In particular, we argue that new leadership, altering policies, structure, behavior, and beliefs are (...) paramount to successfully change to an organizational culture that supports ethical behavior. Schein's five primary mechanisms available to leaders for embedding and reinforcing culture will be used to systematically analyze efforts to change Salomon Brothers' culture. (shrink)

The paper describes and discusses unethical behavior in organizations, as a result of (interacting) disputable leadership and ethical climate. This paper presents and analyzes the well-known bond trading scandal at Salomon Brother to demonstrate the development of an unethical organizational culture under the leadership of John Gutfreund. The paper argues that leaders shape and reinforce an ethical or unethical organizational climate by what they pay attention to, how they react to crises, how they behave, how they allocate rewards, and how (...) they hire and fire individuals. (shrink)

This essay suggests that the 21st century knowledge economy represents a moderate form of moral community. To show this I first clarify the ideas of moral community and a knowledge economy. The latter reflects the emergence of high volume, high speed, high precision (or +VSP) electronic communications and exchange networks, both of which embody the ethical value of reciprocity. One result has been the emergence of commercially oriented knowledge communities. In conclusion, the +VSP communications knowledge economy raises several problems, about (...) truth, social turbulence, and democratic community. (shrink)

This essay suggests that the 21st century knowledge economy represents a moderate form of moral community. To show this I first clarify the ideas of moral community and a knowledge economy. The latter reflects the emergence of high volume, high speed, high precision (or +VSP) electronic communications and exchange networks, both of which embody the ethical value of reciprocity. One result has been the emergence of commercially oriented knowledge communities. In conclusion, the +VSP communications knowledge economy raises several problems, about (...) truth, social turbulence, and democratic community. (shrink)