Business Efficiency and Ethics presents both the theory of business efficiency and ethics, and a wealth of case studies based on practical experience. This unique perspective offers a framework for identifying this behaviour and reestablishing appropriate business behavior standards.

The accuracy of financial data within electronic accounting information systems plays a vital role in improving business efficiency. This paper investigates how the accuracy of data on financial information systems moderates the relationship between these systems and business efficiency. A questionnaire survey was applied to a sample of companies that specialise in the field of accounting information systems. The gathered data was analysed using partial least squares structural equation modelling. To be precise, financial data accuracy shows (...) a higher positive return on electronic accounting information systems in the alignment of business capabilities. To achieve the highest possible level of automated accounting systems, financial information accuracy is crucial. Data analysis techniques and overall improvement of the accounting information systems industry can achieve this. (shrink)

Assumed benefits from improved reputation are often used as motives to drive corporate social responsibility (CSR) initiatives. Are improved cost efficiencies among these reputation benefits? Cost efficiencies and cost management have become more relevant as revenue streams dry up in these tough economic times. Can a good reputation aid these efforts to develop cost efficiencies specifically when managing labor costs? Prior research hypothesizes that good reputation can create labor productivity and efficiency benefits. The purpose of this study is to (...) empirically investigate reputation's relationship with labor efficiency, labor productivity, and labor cost. Using a sample of highly reputable firms from Fortune's America's Most Admired Companies list and a corresponding matched sample of firms, we find that reputation is associated with improved labor efficiency and labor productivity. However, we do not find a significant association between reputation and reduced labor costs. Our study contributes to current research hypothesizing and finding efficiency benefits associated with good reputation. Documenting these potential reputation benefits has important implications for CSR activities and initiatives. It supports recent work that incorporates reputation into a more developed model of the relationship between CSR and performance (Vilanova et al.: 2009, Journal of Business Ethics 87, 57-69). This work is useful to businesses and supports strategies focused on "doing well by doing good" and maintaining healthy reputations. (shrink)

Business orientation toward sustainable development goals and the circular economy are relevant research topics today in business theory and practice. The waste recycling sector is a key industry in the circular economy framework for promoting clean production and environmental sustainability. This study analyzes business performance in the recycling sector, focusing on efficiency indicators. The associations between firm efficiency and risk variables were also evaluated. The study goes through several methodological stages, including a Data Envelopment Analysis (...) (DEA) multistage method and multivariate modeling: tobit regression, bootstrap models, and generalized method of moments (GMM). The main results indicate that the average efficiency of waste recycling firms is at a medium level. Large-sized firms achieve higher levels of efficiency than medium-sized and small firms, supporting the economies of scale hypothesis. The evidence also suggests that risk variables (rating score and Zscore) and capital structure are key determinants of firm efficiency in the waste recycling industry. (shrink)

This paper offers the concept of “justice failure,” as a counterpart to the familiar idea of market failure, in order to better understand managers’ ethical obligations. This paper takes the “market failures approach” to business ethics as its point of departure. The success of the MFA, I argue, lies in its close proximity with economic theory, particularly in the idea that, within a larger scheme of social cooperation, markets ought to pursue efficiency and leave the pursuit of equality (...) to the welfare state. As a result, the core ethical responsibility of business actors is to avoid profiting off of market failure. After reviewing this approach I challenge its emphasis on efficiency. I argue that just as we note the suboptimal efficiency of actual markets, we should also take seriously the suboptimal equality of actual welfare states. Taking this idea seriously results in a whole other set of ethical responsibilities for businesses to take into account; in addition to market imperfections and regulatory lacunae, managers should also avoid profiting from, and exacerbating, structural inequalities and injustices. I offer an outline of the kinds of injustices and inequalities that would have bearing on business ethics, and the kinds of ethical responsibilities that this approach suggests that business actors should take into account. (shrink)

The economic importance of optimizing the environmental situation from the perspective of an entrepreneur are assessed in the article. The classification of administrative decisions taken in the course of the business activities is proposed. The authors identified a group of solutions directly providing optimization of environment external to the enterprise, solutions that have an indirect positive impact on the environment and solutions that improve ecology of industrial premises. The nature of economic effect of resulting solutions of various types is (...) taken into account. Vectors of influence of working conditions on the economic results of business activities are described. The nature and strength of the impact of model management decisions results of business activities are defined. Key performance indicators of entrepreneurial activity are identified: employee productivity, the amount of revenue and profitability, solvency, staff stability, the competitiveness of enterprises. Grouping the costs of ecological parameters optimization of the production environment is proposed. Relationship between level of working conditions and socio-psychological climate in the collective enterprise is disclosed. The methods of motivation of entrepreneurs in solving of environmental, production problems are considered. The role of training entrepreneurs engaged of medium and small businesses are underlined especially. Thus, in the article the relationship between environmental and economic problems of entrepreneurial activity is investigated. Role and opportunities of entrepreneurs in solving these problems are defined and structured. (shrink)

One of the essential parts within the transition towards sustainable economies, is the way how higher education prepares its students for their future role in business. In order for them to contribute to corporate social responsibility within the enterprise context, they need specific skills and competences related to sustainable development. Derived from the societal role of business schools in preparing the future business leaders and entrepreneurs, the focus of this paper is the participation in, and the contribution (...) of business schools to the issues of efficiency measures for sustainability. This topic could be wider situated within the context of higher education for sustainable development, which aims at integrating competences for sustainable development into the curriculum, and integrating sustainability measures within campus operations, research and societal role. The paper furthermore looks at a business school context as a case for institutional efficiency measures. The paper describes how business schools could implement efficiency measures and apply instruments within their own context, looking at the campus as a ‘living laboratory’ for sustainability innovation. The paper describes how tools and instruments to foster sustainability integration are applied on campus, its benefits and possible problems. The paper focuses on the application of three instruments: Assessment Instrument for Sustainability in Higher Education; Ecological Footprint Analysis; and Principles for Responsible Management Education. It builds upon the data and results from several action research projects within two Belgian business schools. As a conclusion, the paper will reflect upon the essential characteristics of these initiatives, as a way to enhance efficiency measures for sustainability both within the business school itself, as within a wider business context. (shrink)

The paper aims to assess the effect of CSR on the performance of transnational corporations. The theoretical aspects of social responsibility and its relationship with the results of the activities of transnational corporations were highlighted based on the literature review. The empirical studies aimed at assessing the effect of social responsibility on the performance results of enterprises were analysed and systematised. The findings of the empirical studies showed that CSR has an impact on the operational and financial results of transnational (...) corporations. Ethical considerations are also discussed, especially with respect to the issue of genuine social contribution versus greenwashing. (shrink)

Current teaching, writing and thinking in business ethics reflects (more than) a tendency to subsume business into the theoretical, idealistic and impractical objectives of philosophical ethics. Professors Primeaux and Stieber argue against this tendency. They propose the basic business model of economic efficiency as a practical and appropriate paradigm for business ethics. Understood from a behavioral perspective, economic efficiency reflects all of the ethical considerations of the academic study of philosophical ethics, but in a (...) much more concrete and applicable manner. In effect, they are proposing that any study of business ethics defines its starting point and focus of reference in terms of economic efficiency. qu]Is there a need for business ethics? Yes, of course! Can business ethics be taught? Well, yes. But ... But, what? But, how? (shrink)

This paper argues that a proper evaluation of the notion of efficiency in business ethics requires that we separate efficiency qua human good from the originally value-neutral sense of the term. The adverse consequences of hyper-efficiency consist in paradoxically causing greater inefficiencies (‘perversity’) as well as a negative impact on the human capacities to pursue various forms of excellence (‘jeopardy’). In contrast to its negative consequences, the precious good of efficiency can be formulated in terms (...) of Alasdair MacIntyre’s influential practice-institution framework. The paper proposes that efficiency be defined in terms of the kind of success towards which it aims; while it never quite reaches the status of an internal good, efficiency fluctuates between being an external good proper and what we call a paradoxical good, with attributes of both internal and external goods. The archetype of a paradoxical good is the good of success qua victory in the domain of sports, which shares attributes of internal goods (since it is defined as a necessary and desirable goal by the practice itself) and external goods (since victory for one implies the defeat of another, a zero-sum logic). The paper fleshes out the consequences of this paradox in MacIntyre’s framework by proposing a three-stage model of success and efficiency for various practices. (shrink)

The Market Failures Approach (MFA) is one of the leading theories in contemporary business ethics. It generates a list of ethical obligations for the managers of private firms that states that they should not create or exploit market failures because doing so reduces the efficiency of the economy. Recently the MFA has been criticised by Abraham Singer on the basis that it unjustifiably does not assign private managers obligations based on egalitarian values. Singer proposes an extension to the (...) MFA, the Justice Failures Approach (JFA), in which managers have duties to alleviate political, social, and distributive inequalities in addition to having obligations to not exploit market failures. In this paper I describe the MFA and JFA and situate them relative to each other. I then highlight a threefold distinction between different types of obligations that can be given to private managers in order to argue that a hybrid theory of business ethics, which I call the MFA +, can be generated by arguing that managers have obligations based on efficiency and duties based on equality to the extent that these latter obligations do not lead to efficiency losses. This argument suggests a novel theoretical option in business ethics, elucidates the issues that are at stake between the MFA and the JFA, and clarifies the costs and benefits of each theory. (shrink)

European firms are currently in a process of transition toward a circular economy, which is expected to guarantee sustainable growth over time. Developing eco-efficient practices is a necessary step in this transition. This study analyzes the impact of stakeholder engagement in a circular business ecosystem on the development of these circular eco-efficient practices. Past literature has evidenced the impact of stakeholder environmental pressure on firm strategic decisions and outcomes. We adopt the stakeholder theory from a more recent vision, arguing (...) that “shaking stakeholders up” within a circular ecosystem is a more advanced strategy than the traditional approach of reacting to stakeholder pressure. Using structural equation modeling, we examine the data of 14,726 European firms and their relationships with five primary stakeholder groups. The results offer theoretical and empirical support for the idea that firms can go further in adopting eco-efficient circular practices by shaking stakeholders up, selecting them, and managing relationships with them. (shrink)

The role of the business leader is key to develop the culture of an enterprise. To exemplify its importance in the national and globalcontext, the Muslim author from Indonesia points with admiration to Konosuke Matsushita, founder of Matsushita Electric Corporation, who already in the 1930s set up the seven ethical principles for healthy business growth, which also are commended by the Islamic imperative. Due to the current dynamic business environment, Muslims find themselves confronted with serious dilemmas and (...) need guidance from a clearly developed Islamic business ethics. For this purpose the author offers, first, the essentials of such an ethics: the utmost importance of all sort of productive work and the distribution of wealth in society; the vocation of trade; the fundamental principles of freedom and justice for business conduct; the prescription of certain manners such as leniency, service-motive, and consciousness of Allah; and mutual consultation. He, then, presents his personal view on leadership in business. It involves three basic ingredients: an inspiring vision of high and achievable standards; a value system based on the principles of freedom and justice and promoting fairness, business integrity, and efficiency; and courage to face tough decisions while putting one’s complete trust in Allah. (shrink)

The aim of the article is to show how the use of diagnostic methods allows identifying patterns and problems of corporations functioning, providing identification of directions and strategies for further development of their business. Theoretical and methodological basis of the research is a scientific works of scientists in the field of business diagnostics and strategic development, who studied diagnostics in the system of responding to business development problems, identifying areas for improving strategic management, financial statements of corporations (...) of Daimler Group (Germany), Tesla Motors (USA) and Toyota Motor (Japan) and own research results. The methodological basis of the study is a set of general and special methods used to achieve the goal of the research and includes: theoretical generalization and synthesis – in analyzing the content of scientific works on business diagnostics and strategic management; observation – to obtain primary information about the state of business of automotive companies in the world; indicator and integrated assessment – to assess the state of business and the effectiveness of strategic management of automotive corporations; information and logical analysis – when determining the issues and patterns of business development of corporations; problem-target method – to justify the choice of business development strategies; causation-result method – to obtain definitive conclusions. The results of the study of the state of business of the world's leading automotive corporations revealed the dependence of business efficiency on the degree of efficiency of strategic management of their activities, and identified types of strategies that will promote further development of automotive corporations – integrated, concentrated, diversified or globalized growth. The practical significance of the obtained results lies in their usefulness for strategic management for Daimler Group, Tesla Motors, Toyota Motor Corporation. (shrink)

Despite emerging study of business initiatives that attempt to support local peace and development, we still have significant knowledge gaps on their effectiveness and efficiency. This article builds theory on business engagements for peace through exploration of the Footprints for Peace (FOP) peacebuilding project by the Federación Nacional de Cafeteros de Colombia (FNC). FOP was a business-peace initiative that attempted to improve the lives of vulnerable populations in conflict-affected regions. Through 70 stakeholder interviews, we show how (...) FOP operationalized local peace and development in four conflict-affected departments of Colombia, and examine FNC’s motivations for and effectiveness of its peacebuilding activities. Our main finding is that FOP’s success supported several existing theories on business engagement in peace both in terms of peacebuilding by business and for local economic and societal development, providing evidence in support of development–business collaborations and local peacebuilding by business under certain targeted circumstances. We relate these findings to existing literature, highlighting where existing business-peace theory is supported, where FOP challenged assumptions, and where it illuminated new research gaps. These findings serve to take business-peace theory forward and improve our understandings of what can constitute success for business-peace initiatives in Colombia and possibly other conflict-affected regions. (shrink)

In this response, I reiterate my argument that price gouging undercuts the goal of equity in access to essential goods whereas Zwolinski emphasizes the importance of the efficient provision of essential goods above all other goals. I agree that the efficient provision of essential goods is important as I argue for the goal of equitable access to sufficient of the goods essential to living a minimally flourishing human life. However, efficiency is a means to this goal rather than the (...) end itself. Finally, I offer additional arguments against the non-worseness claim. (shrink)

One common justification for the pursuit of profit by business firms within a market economy is that profit is not an end in itself but a means to more efficiently produce and allocate resources. Profit, in short, is a mechanism that serves the market’s purpose of producing Pareto superior outcomes for society. This discussion examines whether such a justification, if correct, requires business managers to remain attentive to how their firm’s operation impacts the market’s purpose. In particular, it (...) is argued that the value of efficiency, despite views to the contrary, cannot be fully separated from the planning and intentions of business managers as long as those managers direct their firms in an ethically responsible fashion. This position is inspired by, and serves as a supportive clarification of Joseph Heath’s so-called “market failures approach” to business ethics. (shrink)

Business schools are the “nurseries” of the corporate world. This article offers an empirical analysis of the business student ethos on the basis of research conducted at three Dutch universities. A theoretical framework in the tradition of virtue ethics and dubbed “moral ethology” is used to identify the values business schools convey to their students. The central research question is: What types of ethos do Dutch business students have? Forty‐three undergraduate students participated in Q‐methodological research, a (...) mixed qualitative–quantitative small‐sample method. Five different types of ethos were generated: Do‐Good Managers, Market Managers, Searching Managers, Balancing Managers, and Radical Market Managers. Some general characteristics that apply to all the types of ethos were identified, such as the search for efficiency. It is argued that business schools should pay much more attention to the values that are endorsed in both life and business and should help students to address situations in which values are neglected. (shrink)

Qualitative researchers, particularly those researching business and society topics, should embrace artificial intelligence (AI) to conduct efficient, explicatory, and equitable research but also exercise caution to avoid its pitfalls.

<I>The Handbook of Business Ethics is a substantially revised new edition of <I>Ethics in the Economy, currently in its third printing. With new content and revised material, the contributors rally against the concept that ethics is only an instrument for improving business efficacy. They see ethics as fundamental to all levels of economic activity, from individual and organizational to societal and global.<BR> Globally, the ethicality of economic actions is often highly questionable and in many respects unacceptable. The ethical (...) nature of the economy should be considerably improved, but there is an inherent paradox: if we want to develop the ethicality of our economic affairs only as a means of achieving higher efficiency, in the final analysis we will fail. We have the chance to improve the ethical quality of our economic activities only if our motivation is genuinely ethical, that is, only if we want to realize ethical conduct for its own sake. (shrink)

The Business Roundtable's “Purpose of a Corporation” letter announced a shift from stockholder primacy to stakeholder primacy. Interestingly, we contend the letter's language employed a technical efficiency emphasis, suggesting a firm's executives chose to make this shift because they believed doing so would improve the firm's financial performance, via improved corporate governance. We examine whether investors actually accepted the technical efficiency arguments at face value, or in contrast believed the announcements were merely a “rational myth,” what management (...) thought investors would want to hear. We employ a 2-day cumulative abnormal return (CAR) event study for 140 publicly-held firms. Overall, we find investor support for the announcement. In addition, we found how returns to firms with prior similar announcements were negative at the time of the announcement. Also, the returns for firms having multiple signatories were positive and significant. (shrink)

The research aims to assess the extent of Green Business Standard implementation in hotels, determine the efficiency and effectiveness of Green Business Standard implementation in hotels, and define the influencing factors affecting GBSI in hotels. The research was conducted with 132 hotel representatives from six provinces and one municipality, five DoT officials, and 119 people who have experience of staying in hotels. Both quantitative and qualitative approaches were employed. To analyze the data, SPSS statistical tools were employed, (...) including simple regression, multiple regression, and descriptive statistical tools. Content analysis was employed to analyze qualitative data. -/- First, the Green Business Standard was implemented to a high degree in hotels regarding energy consumption with the use of efficient energy equipment, water consumption through efficient water materials and equipment, and air quality management, while the GBSI in hotels is low regarding the promotion of green products and local economic development, environmental protection, and local cultural promotion. Second, the practice of GBSI in hotels reduced water use, energy consumption, costs, and guest and profit margins. Third, the GBSI in hotels was predicted by customers’ support, government regulations, perceived benefits, hotel managers' or owners’ behavior, and staff support. -/- Keywords: green business standards, efficiency, effectiveness, and influencing factors of GBSI in hotels . (shrink)

For organizational development that is future-oriented, enterprises increasingly need qualified, motivated and efficient workers who are able and willing to contribute actively to technical and organizational innovations. Furthermore, customers and consumers are increasingly interested in healthy products and services. Therefore, health has become a (potential) business value of strategic importance. In interaction with all relevant stakeholders, an approach was developed for companies that want to manage their health impact in a proactive and preventive manner. The approach was termed Integral (...) Health Management (IHM). IHM forms a strategic approach for reducing the costs of sickness absence and working disability, while the productivity and resilience of the company and its employees are increased. This brings the company direct economic benefits. Finally, it is of prime interest for employees to remain physically and mentally healthy and employable. The IHM approach distinguishes seven lines of development: (1) health as a strategic company interest; (2) the realization of a healthy primary process; (3) a safe and sound physical (work) environment; (4) an inspiring social (work) environment; (5) vital people; (6) a sound relationship with the immediate organizational environment and local community, and (7) healthy products and/or services. The inter-relationships between the seven development lines are essential for combining an improvement of the business impact on health with a strategic interest of companies and organizations. The seven lines of IHM development can easily be linked to the European Foundation for Quality Management''s European Excellence Model. (shrink)

Recent evidence readily confirms that ethical conduct in human interaction has declined in the context of business, but also in virtually every phase of life. An alarming number of government leaders at all levels have demonstrated by their conduct that their primary goal is the pursuit of self-interest for themselves, their party, and their constituents - regardless of whether the choices they make are in the long-term best interests of those whom they are obligated to serve. Academic institutions and (...) their leaders similarly seem to be either tied to past assumptions and traditions that seem, or blatantly out of touch with the needs of their students and the communities that they serve. Increasingly, college and university academic programs are being taught by part-time and temporary faculty who are paid less than their elementary and high school counterparts who lack their educational preparation, level of knowledge, or responsibility in preparing students for their chosen careers. Non-governmental organizations also struggle to earn the respect of the public, and their trustworthiness has been called into question as chief executive officers and staff receive high salaries, but lack accountability for achieving results or acting with integrity. Those who work in the media are as a group no longer trusted to provide an objective and unbiased assessment of the news. Even religious institutions are under attack and their leaders are being asked to be accountable to the standards which their doctrines advocate. Implicit in ethical conduct is the responsibility to identify the far goals of human achievement - rather than short-term interests that undermine long-term value creation and outcomes that best serve society. Abraham Maslow has wisely noted that the pursuit of efficiency must be evaluated in terms of the specific goals intended to be achieved, but the ramifications of individual and collective actions often seem to be out of focus, misdirected, and short-sighted. (shrink)

The notion of antifragility, an attribute of systems that makes them thrive under variable conditions, has recently been proposed by Nassim Taleb in a business context. This idea requires the ability of such systems to ‘tinker’, i.e., to creatively respond to changes in their environment. A fairly obvious example of this is natural selection-driven evolution. In this ubiquitous process, an original entity, challenged by an ever-changing environment, creates variants that evolve into novel entities. Analyzing functions that are essential during (...) stationary-state life yield examples of entities that may be antifragile. One such example is proteins with flexible regions that can undergo functional alteration of their side residues or backbone and thus implement the tinkering that leads to antifragility. This in-built property of the cell chassis must be taken into account when considering construction of cell factories driven by engineering principles. (shrink)

Non-business e-commerce adoption refers to the use of e-commerce by not-for profit organizations such as religious organizations, government agencies and academic institutions to reduce their expenses or to improve their operations and customer service. Being a new research niche in the field of e-commerce, non-business e-commerce has received very little or no research attention. This has resulted in a very poor understanding of this niche, especially with regards to its adoption facilitators and inhibitors. Based on this impetus, a (...) field survey of Malaysian Universities was conducted to determine the key factors that facilitate non-business EC adoption as well as the role of gender differential. A comprehensive list of potential facilitators for the strategic use of information technology was derived from extant research reports and used to collect data from five public universities in Malaysia. The data were factor-analysed to determine the key underlying dimensions of facilitators. On the basis of the resulting five dimensions namely, relative advantage orientation, network orientation, information efficiency orientation, innovativeness orientation and competitiveness orientation, regression analysis was done to determine the impact of the five dimensions on adoption. Dummy variable was created for gender and applied in the regression analysis in order to estimate the moderation effect of sex typing on the relationship between the resulting dimensions and adoption. Implications of the findings are discussed. (shrink)

This study examines the relation between a firm’s business strategy and its corporate social responsibility performance. Using a comprehensive measure of business strategy based on the Miles and Snow theoretical framework, we find that firms following an innovation-oriented strategy are associated with better CSR performance than those following an efficiency-oriented strategy. Specifically, compared with defenders, prospectors engage in more socially responsible activities, fewer socially irresponsible activities, and perform better in both stakeholder- and third-party-related CSR areas. Taken together, (...) our results suggest that business strategy is an important determinant of CSR performance. Prospectors take advantage of CSR, as their innovation-oriented strategy allows them not only to benefit more from CSR, but also to have more tolerance for the uncertainty, risk, and long time-horizon associated with CSR engagement. (shrink)

This study employs the Porter hypothesis framework to test the moderating role of production cost in the relationship between resource-efficiency actions and financial performance for German small and medium-sized enterprises (SMEs). For this purpose, we employ the 2012, 2018, and 2021 Flash Eurobarometer surveys to analyze how consistently SMEs adopt resource-efficiency actions, and the impact of these actions on their performance and costs. We also conduct a generalized method of moments regression analysis (GMM). Among the seven resource-efficiency (...) actions proposed, saving water had a significant positive (negative) influence on financial performance in 2012, 2021, and (2018). Saving energy and using renewable energy had a positive and significant (insignificant) effect on financial performance in 2018, 2021, and (2012). Finally, selling scrap material to other companies had a positive and significant impact in all years. Furthermore, increased production costs negatively moderate the relationship between eco-efficiency action scores and financial performance. The results indicate that the “strong” version of the Porter hypothesis is not supported: It only holds when the implementation of eco-efficiency actions reduces production costs and increases financial performance. (shrink)

Many destructive business leaders drive their companies into bankruptcy and dissolution, never to be heard from again in the business press. However, it is useful to study these organizations to prevent the same, or similar destructive business from taking on, and destroying, additional businesses. In this article, we describe one type of organization that follows the model of religious cults, which we call secular business cults. Building on Padilla et al., we describe an SBC toxic triangle (...) of (1) Padilla et al.'s societal factors, (2) additional business factors, and (3) antisocial actors that set the stage for the SBC's emergence. We then describe the characteristics of the SBC's operations, such as an ultrastrong culture, formalized manipulation, manipulative hierarchical relationships, competition, and operations efficiency tools, and the frequent overcommunication of deceptive messages. It is our hope that this unique perspective on organizations will inspire research into an overlooked area of unethical behavior in businesses today. In our Part II paper on the topic, we intend to extend the idea of SBCs to manipulative businesses, which are essentially reorganized, well‐established and legally‐complying revisions of SBCs, and then to manipulative industries and societies. (shrink)

Retraction note: Melo Zamora, M. D. & Zarta Campos, M. A. (2022). Sustainability and eco – efficiency: A regional business model with a global vision (Colombia). HUMAN REVIEW. International Humanities Revista Internacional De Humanidades, 14(4), 1–12. https://doi.org/10.37467/revhuman.v11.4141 The Editorial Office of Eurasia Academic Publishing Group has retracted this article. An investigation carried out by our Research Integrity Department has found a group of articles, among which this one is found, that are not within the thematic scope of the (...) journal. We believe that the editorial process was manipulated and, furthermore, acceptance decisions were made under possibly inappropriate peer review. (shrink)

The problem of building an effective system of interconnected and purposeful innovative changes in business management is solved in the article. The main purpose of the research is to improve the model of business excellence on the basis of interconnected and purposeful innovative changes in business management. Critical analysis of literature sources and approaches to solving the problem of building a perfect model of business emphasizes the diversity of applied methodological approaches and methods of management innovation. (...) However, in terms of business technologicalization, necessity to accelerate information exchange, development of innovation and, at the same time, development of new threats, the need on the basis of strategizing, intellectualization of management, partnership, compliance with the challenges of the external environment, communication efficiency, leadership transformation, balancing intermediate and final results, there is a need to transform business and management on the basis of strategizing, intellectualization of management, partnership interaction, compliance with the challenges of the external environment, communication efficiency, transformation of leadership, balancing intermediate and final results. Relevance of solving of this scientific issue is that the timely use of innovative tools and management methods in the implementation of strategic intentions and goals forms a high adaptability of companies to transformation processes occurring in their external and internal environment under the influence of digital technologies in business processes. The scientific-theoretical and methodological basis of the study were the following methods: abstract-logical and comparative analysis – to generalize theoretical approaches and confirm the practical importance of solving the problem of building a model of providing business excellence on the basis of interconnected and focused innovative changes in business management; system analysis and modelling – method of building a model of business excellence based on managerial innovation; system-analytical – method of balancing the interaction of the components providing business excellence; generalization – when drawing conclusions based on research results. The object of research is a system of interconnected and purposeful innovative changes in business management. The results of solving the problem of building a model of business excellence while balancing the interaction of the components of such provision and implementation of the process of digital transformation of the business model. The results of the research have practical value for business entities that seek to increase the effectiveness of interconnected and purposeful innovative changes in business management. (shrink)

We evaluate the effectiveness of impact investing from the perspective of the market failures approach (MFA) to business ethics. Under the MFA, businesses are ethically obligated to contribute to market efficiency by mitigating market failures. The MFA ethics literature emphasizes a negative externality interpretation of market failures, with ethical practice as self-regulation. We argue that the MFA also obligates businesses, and investors, to produce positive externalities, a form of private provision of public goods. We develop a graphical MFA (...) ethical framework addressed to impact investing. The framework is based on impact projects’ dual financial and social returns. Dual returns trade-offs originate in market failures and increase with positive externalities. In practice, a key determinant of market failure and the size of returns trade-offs is the availability of intermediate public goods. This varies systematically across sectors and country-markets. We identify the market circumstances under which impact investing is feasible. We show how provision of positive externalities mitigates market failures. We show that the effectiveness of impact investing depends on the interaction of the determinants of feasibility and of the size of project trade-offs. We show how government supporting intervention, through blended finance vehicles, can improve impact investing effectiveness. Finally, we show that evidence of actual patterns of impact investing across sectors and countries supports our analysis. (shrink)

Henry Hansmann has claimed we have reached the “end of history” in corporate law, organized around the “widespread normative consensus that corporate managers should act exclusively in the economic interests of shareholders.” In this paper, I examine Hansmann’s own argument in support of this view, in order to draw out its implications for some of the traditional concerns of business ethicists about corporate social responsibility. The centerpiece of Hansmann’s argument is the claim that ownership of the firm is most (...) naturally exercised by the group able to achieve the lowest agency costs, and that homogeneity of interest within the ownership group is the most important factor in achieving lower costs. He defends this claim through a study of cooperatives, attempting to show that homogeneity is the source of the competitive advantage most often enjoyed by shareholders over other constituency groups, such as workers, suppliers and customers, when it comes to exercising control over the firm. Some business ethicists, impressed by this argument, have taken it to be a vindication of Milton Friedman’s claim that profit-maximization is the only “social responsibility” of management. I would like to suggest that this conclusion does not follow, and that the “Hansmann argument” lends itself to a less minimalist view, what I refer to as a “market failures” approach to business ethics. (shrink)

New media and technologies such as social media and online platforms are disrupting the way businesses are run and how society functions. This article advises that scholars consider the morality of new media as an area of investigation. While prior literature has given much attention to how social media provides benefits, how it affects society generally, and how it can be used efficiently, research on the ethical aspects of new media has received relatively less attention. In an age where matters (...) such as violence, hate crimes, fake news, etc. are increasingly pervasive, we need to address the role of online technology in aiding or limiting such negative acts. In this regard, this article uses the canvas of a terror attack that was facilitated by online technology to bring to light pressing social and ethical issues in the use of new media. I draw upon 264 news articles focusing on the 2019 Christchurch terrorist attacks to piece together how the attack was orchestrated and focus on technology-enabled facets of the event. I stir discussion on the ethical aspects of technology with regard to online discrimination and highlight business and other stakeholder responsibilities and challenges as technology continues to evolve and pervade our social lives. (shrink)

The audio content that accompanies this book can be downloaded and played for free from www.pearson-books.com/mindfulness Be more, achieve more and stress less – how mindfulness can change the way you live Mindfulness for Busy People will show you how to apply the transformative power of mindfulness to your busy life, helping you to de-stress, find your own unique space of calm, and ready yourself for whatever challenges you face. Helping you to cultivate and practice mindfulness straight away, you’ll discover: (...) A no-nonsense, light-hearted, and clear introduction to mindfulness and its benefits Unique and clever ‘I-haven’t-got-time-for-this’ exercises that you can do anywhere, anytime A fulfilling way to feel less stressed with immediate effect A new found confidence, resilience and a greater sense of optimism Improved focus, energy, efficiency and creativity Feel calm, confident and live in the moment – whatever you’re doing, wherever you are. (shrink)

Online teaching is consistent with the educational tradition of extension and distance learning, but its recent expansion creates new issues, especially in teaching business ethics/business and society. Students, professors, and especially administrators benefit greatly from some aspects of online learning. Online learning has such advantages over the traditional classroom in logistical flexibility and cost efficiency that decision-making may become overly pragmatic. There are special challenges in teaching business ethics/business and society online, as the subject matter (...) requires nuanced judgment rather than right-or-wrong answers. (shrink)

Industry sustainability plays a vital role in shaping the environment for cultural and creative business development. However, considering the influence of the external environment and random factors on the technical efficiency of cultural and creative industries with the inherent defects of the traditional data envelopment analysis model; this manuscript analyzed the operating efficiency of 56 cultural and creative enterprises using the three-stage DEA model from 2012 to 2018. An analysis of the results shows that differences in (...) class='Hi'>efficiency exist between stage one and stage three DEA. Furthermore, the environmental elements and statistical noise measured by the stochastic frontier analysis in stage two reveal positive and negative influences on the creative cultural enterprises at different stages. As a result, the overall efficiency of the listed cultural and creative industries was revealed to be low in China. Finally, this study suggested effective countermeasures and recommendations for better-operating efficiency systems for cultural and creative enterprises. (shrink)

The manufacturing sector is considered a key driver of economic progress across different sectors. Industrial products typically enjoy higher "terms of trade," making them more profitable and generating greater added value compared to products from other sectors. This is due to the sector’s diverse range of products and its ability to offer substantial marginal benefits to users. As a result, business players including manufacturers, distributors, traders, and investors are more inclined to participate in this sector because of its attractive (...) profit margins. The government has implemented various initiatives to promote industrial development, which has in turn increased the demand for funding to support this growth, particularly in the industrial sector. In addition to relying on internal sources of finance, the government has been working to secure more external funding, such as foreign investment and foreign loans, to complement development efforts. Given the limited availability of funds, the government needs to adopt policies that open up more opportunities for both domestic and foreign private sector participation in national development. To support this, the government has enacted legislation such as Law No. 1 of 1967 on Foreign Investment (PMA) and Law No. 6 of 1968 on Domestic Investment (PMDN). These laws were later refined through Law No. 11 and Law No. 12 of 1970 and various deregulation policies, including the May 6, 1986 Package, Pakto 1993, and Government Regulation No. 20 of 1994. The government later reorganized its investment policies by passing Law No. 25 of 2007 concerning Capital Investment, which aimed to provide legal certainty, protection, and simplified licensing processes for both domestic and foreign investors. This law is designed to create a more favorable investment environment in Indonesia. (shrink)

The purpose of this investigation is to develop a new methodological basis for studying the market opportunities of the multinational corporation (MNC) on the basis of the synthesis of modern scientific methods for further forecasting their change. The results showed the degree of dependence of the effectiveness of business management on the trends in the field development and competitor’s actions, market access opportunities, the use of MNC opportunities, their strategic positions, and the totality of internal factors that determine the (...) profitability of activities. The practical value of the obtained results is to identify areas for increasing the efficiency of MNC business management and forecasting the dynamics of sales volumes of their products on the market. (shrink)

This book introduces a study of ethics and values to develop a deeper understanding of markets, business, and economic life. Its distinctive feature is its thorough integration across personal and institutional perspectives; across applied ethics and political philosophy; and across philosophy, business, and economics. Part I studies markets, property rights, and law, and introduces normative theories with many applications. ¿Part II examines the purpose of corporations and their responsibilities. Parts III and IV analyze business and economic life (...) through the ethics and values of welfare and efficiency, liberty, rights, equality, desert, personal character, community, and the common good. This Second Edition maintains the strengths of the First Edition ¿ short, digestible chapters, and engaging writing that explain challenging ideas clearly. The material is user-friendly, with an emphasis on a strong theoretical core. Easily adaptable to the instructor¿s teaching, the chapters are separable and can be shaped to the interests of the instructor with suggested course outlines and flexible application to case studies. This text is designed both for coursework in Business Ethics as well as interdisciplinary programs in Philosophy, Politics, Economics, and Law. This Second Edition: Expands presentation of eight normative theories, with increased emphasis on links between these theories and business and economic life Incorporates recent scholarship on shareholder / stakeholder debates about the purpose of corporations, bringing this important topic up to date Includes a new streamlined Preface/Introduction that provides a quick overview of the book before smoothly guiding the reader to the first chapter Uses updated examples and applications for today¿s readers Revamps a useful Appendix, including enhancing the popular primer on ethics Introduces a List of Further Readings at the end of each chapter and notable biographies throughout, directing students to the most promising literature for further research Includes a new ending chapter on the value of an ethical life. (shrink)

Many organizations are struggling to be run in an ethical fashion that consider all stakeholders and contribute comprehensively to society. As is true in much cross-discipline research, concepts and values can inform and enhance one another to produce broader contributions to society. This paper suggests this is the case when cross-pollinating Ignatian and business values for teaching business ethics that results in more ethical organizations. However, teaching Ignatian values as an ethical view in business schools is fraught (...) with several practical issues including its place within the broader ethics literature. Our paper addresses a way that Ignatian values can be taught within a discipline-specific framework – namely by cross sectioning the values with “innovation” and “efficiency”. The practical utility of this framework is illustrated through several real-life examples. This framework is pragmatic and useful in guiding the personal and professional lives of students and organizations who seek to acquire business knowledge and intertwines the fields of management, ethics, and spirituality in a practical manner. The framework proposed in this paper provides moral and spiritual guidance for teaching, living, and running ethical organizations. (shrink)

The article starts by arguing that seeing the firm as a mere nexus of contracts or as an abstract entity where different stakeholder interests concur is insufficient for a “humanistic business ethos”, which entails a complete view of the human being. It seems more appropriate to understand the firm as a human community, a concept which can be found in several sources, including managerial literature, business ethics scholars, and Catholic Social Teaching. In addition, there are also philosophical grounds (...) that support the idea of business as a human community. Extending this concept, and drawing from some Phenomenological-Personalist philosophers, we propose that the firm should be seen as a particular “community of persons” oriented to providing goods and services efficiently and profitably. Being a “community of persons” emphasizes both individuals and the whole, and makes explicit the uniqueness, conscience, free will, dignity, and openness to human flourishing. This requires appropriate communication about and participation in matters which affect people’s life, and makes it essential to cooperate for the common good of the business firm and the society. (shrink)

Responsible risk management is central to banking ethics. With the 1999 publication of the Basel Committee's proposal, Basel II, for a New Capital Accord to replace the 1988 agreement, Basel I, an attempt has been made to address the problem of correlating banks' risk management with their capital requirements. The Basel II framework, finalised in June 2004, is designed to improve risk management by using models based on past performance to help set the amount of capital banks are required to (...) hold by regulators, with the purpose of improving the efficiency of capital allocation. The objectives of this study are to investigate how banks generally, but particularly those located in China, could improve their risk management systems and what the implications of these new regulations are for them. Three relevant propositions were formulated, namely, Basel II will improve risk management; Basel II will improve capital allocation efficiency; and compliance with advanced risk management systems is biased in favour of the large banks. Evidence was assembled with which to evaluate these three propositions by gathering relevant primary data by means of a representative survey of Chinese banking executives involved in risk management. The findings strongly support the first two of the above propositions and partly support the third proposition. (shrink)

Changing images of work in discourse both portray and co-constitute the shift from an industrial to a postindustrial economy. Specifically, work metaphors appear in extra-scientific and intra-scientific discourse on workers and work structures in the natural and social world. An analysis of the entomological discourse from the late nineteenth century to the present shows changes in these metaphors that overlap with the discourse of change in human work and organizational structures. For instance, the metaphor of a busy bee within an (...) efficient hive had traditionally evoked a comparison to the modern industrial workplace. The discourse on the hive currently more closely resembles a postindustrial conception of work. Discourse analysis can illustrate the role of language in co-constructing shared changes in image of work. (shrink)

Managers face an ethical dilemma in the allocation of scarce resources to corporate social responsibility (CSR) because the underlying managerial incentives behind such CSR spending can range from pure altruism to complete financial orientation. Despite the importance of the managerial role in implementing CSR, prior studies generally have treated the role of managers as an exogenous factor. This study builds on recent studies on the managerial characteristics in studies on CSR by examining how managerial efficiency influences the outcomes of (...) CSR. Using a newly developed measure of managerial efficiency, we find that, on average, managerial efficiency is positively associated with a subsequent change in corporate social performance (CSP), although the association is weak in the level of total CSP. We find that efficient managers are more likely to engage in the product-related CSR that directly connects to corporate financial performance (CFP) but are less likely to engage in environment-related CSR. We also find that CSP is positively associated with CFP with efficient managers. Our findings contribute to management and other stakeholders’ understanding of the association of CSR to its outcomes, CSP and/or CFP, which is hinged by the indispensable moderating role of managerial efficiency. (shrink)

ABSTRACT:In this address, I outline a “back to basics” approach to specifying the responsibilities and role of business in relation to society. Three “basics” comprise the approach. The first is arguing that basic principles of ordinary morality, such as a duty not to harm, provide an adequate basis for specifying the responsibilities of business managers. The second is framing the role of business in society by looking to the values realized by the basic building blocks of contemporary (...) economic activity, i.e., markets and firms. The third is making explicit the basic institutions that structure the background against which business operates. The aim is to develop a plausible framework for managerial decision making that respects the fact of value pluralism in a global economy and that fosters meaningful criticism of current business practices while remaining sufficiently grounded in contemporary circumstances so as to be relevant for managers. (shrink)

Data mining, as an essential part of artificial intelligence, is a powerful digital technology, which makes businesses predict future trends and alleviate the process of decision-making and enhancing customer experience along their digital transformation journey. This research provides a practical implication – a case study - to provide guidance on analyzing information and predicting repairs in home appliances after sales services business. The main benefit of this practical comparative study of various classification algorithms, by using the Weka tool, is (...) the analysis of information and the prediction of repairs in the home appliances after sales services business. The comparison of algorithms is performed considering different parameters, such as the mean absolute error, root mean square error, relative absolute error and root relative squared error, receiver operating characteristic area, accuracy, Matthews’s correlation coefficient, precision-recall curve, precision, F-measure, recall and statistical criteria. Five classification algorithms such as the Naive Bayes, J48, random forest, K-Nearest Neighbor, and logistic regression were implemented in the dataset. J48 has proved to provide the best accuracy and the lowest error among the other examined algorithms applied to a home appliances after sales services dataset to predict repairs based on product guarantee period. The extracted information and results of an after sales services business by using data mining techniques prove to alleviate the process of streamlining decision-making and provide reliable predictions, especially for the customers, as well as increase businesses’ efficiency along their digital transformation journey. (shrink)