The article analyses the legal, economic and other problems of the legal regulation of supervision of business entities in Lithuania and outlines solutions to these problems. The first chapter describes the present situation of the legal regulation of supervision of businesses in Lithuania. The second chapter analyses the problems of the legal regulation of business supervision that the authors consider the most important. The article concludes by offering solutions to the key issues identified.

One of the consequences of improper management of European businesses, set solely on profit, is the global financial crisis, felt even today by many societies. Previous negative experience has led to a growing interest in the world at present, in the model in which employees are guaranteed involvement in the management of transnational entities. A new, universal legal framework for the functioning of this model has been created by the European Union. Instead of creating a single transnational legal system, it (...) was decided to create a model for employee involvement in management by coordinating national systems. The aim of this study is to analyse the terminology related to the issue of workers’ involvement in the management of European business entities. This analysis will aim to determine whether the legal language used in the EU regulations and directives relating to workers’ involvement in management and implementing acts allows coordination between legal systems of the Member States. In this context, it is particularly important to determine whether the terminology used in EU acts is consistent with the terminology used in Polish implementing laws and how EU terminology fits into current understanding in the Polish legal tradition of institutions of employee involvement in the management of the workplace. (shrink)

The large-scale proliferation of China’s new type of agricultural entities has given rise to a higher demand for funds. Farmers have insufficient effective collateral, which makes it difficult for them to obtain sufficient loans. Chinese financial institutions have developed a biological asset mortgage loan business to cope with this situation. China has not considered biological mortgages but has been using real estate and asset mortgage models with strong realizability. This innovative financial business has achieved positive results since it (...) was attempted, but it also faces many risks. It is very important to comprehensively and accurately consider the risk factors of biological asset mortgage loans. Based on 1249 production and operation data samples of new agricultural entities in Zhejiang, Henan, and Shandong provinces, this study constructs an XGBoost model for empirical analysis and compares it with logical regression, support vector machine, and random forest algorithms to obtain the optimal model and feature importance value. According to the characteristic importance value, a biological asset mortgage loan risk assessment system with 4 primary indicators and 20 secondary indicators is established, which can effectively identify the biological asset mortgage loan risk of new agricultural entities. (shrink)

A business entity established and owned by a village is designed to support the community in meeting their daily needs, enhancing their knowledge, and providing business and employment opportunities. This requires an institution capable of managing these activities effectively. The institution in question must be able to generate profits because the potential within a village is intended to promote the welfare of the local community. This study examines village institutions functioning as economic entities, commonly known as Village-Owned (...) Enterprises (BUMDes). The study also explores the legal status of these entities and their role in implementing programs aimed at building a prosperous society. The research findings confirm that BUMDes, as regulated by Government Regulation Number 11 of 2021 and the Regulation of the Minister of Villages, Development of Disadvantaged Regions, and Transmigration Number 3 of 2021, have legal entity status. This means that these institutions are recognized and regulated by law, allowing them to engage in business activities legally, while also being responsible for adhering to applicable laws and regulations. The village government wholly owns these business institutions, and their mission is to manage and develop the village's economic potential. Additionally, BUMDes are intended to create jobs, enabling village communities to meet their basic needs, increase their income, and advance the local economy. The legal framework governing these institutions must be a focus for stakeholders to ensure the creation of legal justice, certainty, and benefits. (shrink)

Increasingly, conscientious consumers and green marketers are recognizing that material things, not firms, must be made responsible. Even so, many scholars in ethics, sustainability, and governance focus on people and organizations, ignoring the flows of things. In this book, Ryan Burg argues that material things are fundamental features of moral life, serving as both valuable instruments and guides for responsibility. Unless care is taken for these non-living entities, living things cannot be protected. Viewing the global economy as a network of (...) material transfers, Burg argues that to facilitate object care, professionals must act as stewards. By tracing the origins and disposal of workplace objects through this material network, businesses and employees can discover the outcomes for which they are responsible, and managers can align ethics, sustainability and governance with a truly global formulation of responsibility. (shrink)

Scholars studying the global diffusion of “corporate social responsibility” (CSR) practices and the associated rise of privatized forms of economic governance have tended to shift attention away from the role of corporations in motivating these processes to the one played by nonbusiness forces seeking social control of corporations. We bring corporate power back in by turning the spotlight to the agency of business classes, the business entities capable of pursuing transcorporate, societal-level, macro-political endeavors. Building on a comparative investigation (...) of two of the world’s earliest mass CSR adoptions, in postwar Venezuela and Britain, we argue that business classes responding to anti-capitalist challenges were the original diffusers of CSR practices and, interrelatedly, promoters of CSR-based, privatized forms of regulation and governance. Organized by peak business associations, the purpose of these “business-class CSR mobilizations” was to weaken the state in its relation to corporations and increase the control of business over social trends. We discuss the contribution of our historical perspective and analytical approach to a more complete and balanced picture of the global rise of CSR in late capitalism. (shrink)

_Business Ethics and the Natural Environment_ examines the present status of relations between corporate enterprise and the natural environment in the world today. •Discusses such questions as: What obligations does a corporation have toward the environment? To respect entities unprotected by law? To care about future generations? •Argues that environmentally-friendly business practices yield dividends exceeding expectations, and that the competitive firm of the 21st century will follow “green” standards •Provides a background in ethics, a survey of business ethics, (...) an account of environmental philosophy, an overview of environmental legal issues, and an account of the problems associated with globalization. (shrink)

The idea that ‘business ethics’ picks out a distinct discipline within ethical theory is contentious; in particular, it is unclear why theoretical approaches to moral and political philosophy cannot satisfactorily address ethical concerns in the context of business activity, just as they can in the context of other human activities. In response, I argue that some features of the business environment require more focused analysis than currently available. This environment is characterised by the presence of large social (...) groups – business organisations – that are not political in nature, but yet wield considerable power and are the vehicles for complex forms of collective action. The most pressing ethical concern raised by such collective action is collective moral responsibility. I develop an account of collective responsibility that is tailored to business organisations and that combines a number of strands of moral thought – a desert-based account of moral responsibility that is of a kind with that typically applied to individual humans; a pluralistic account of how collective responsibility is generated that is rooted in irreducible group-level properties; and a moderate approach to social ontology that sees nothing mysterious in ‘distinct’ collective entities. From this starting point I develop two detailed models that illustrate how business organisations can constitute distinct collective entities that may be held morally responsible. The first shows how such organisations may satisfy the conditions required to hold moral agency, which is typically assumed to be a prerequisite for moral responsibility. The second breaks with this tradition and argues for the possibility of ‘non-agential’ moral responsibility in cases where complex organisational structures mediate the actions of the moral agents that populate them. I conclude by showing how this distinct organisational-level responsibility, far from insulating organisation members from personal culpability, illustrates quite distinct standards against which such individuals may be judged. (shrink)

Nowadays financialization seems to be an inherent and obvious phenomenon and it appears to have infected all industrialized economies. Within general phenomenon of financialization, three areas should be indicated: financialization as a system of capital accumulation, financialization of business entities and financialization of every day-life. In our paper we try to investigate family businesses that are unique due to the overlap of family and business subsystems in one entity. More specifically, we undertake to find out whether intertwining (...) of family values with business objectives can influence the level of absorption of various finance instruments that are offered on nowadays financial market. Analysis revealed a few statistically significant relationships between perception of family firm objectives and absorption of basic and sophisticated finance instruments. It is the first to suggest, that family firms which are intrinsically-oriented, i.e. those more willing to keep independence or to keep long term survival, are less prone to absorb sophisticated finance instruments, e.g. private equity, venture capital, hybrid capital or they are less keen to become a public company. On the other hand, if a family firm is more oriented towards risk minimisation or keeping long term growth, then it is also more open for absorption of advanced finance instruments. (shrink)

Pushing through a logical continuum of closed-to open-system views of organizations necessarily changes the conceptualization of a firm from a strongly bounded entity to a configuration of networks and sub-networks, which exists and operates in a larger systemic network configuration. We unfold a classification of management processes corresponding to views of the firm along the closed/open-systems continuum. We examine ethical issues that are likely to devolve from these classes of management processes, and we suggest typical means by which managers (...) will attempt to control their firms' exposure to such issues. The final class of management processes examined focuses on the achievement of out-comes that are mutually satisfactory in the set of networks and sub-networks that constitute the focal firm, and that support the sustainability of the whole system. The article contributes to organizational theory, business ethics, and computer and information ethics by providing a comprehensive analysis of the impact of managerial views of the firm and of networks - virtual, social, informational - on managerial processes and on our understanding of how business ethics issues are linked to perceptions of what a firm is, does, and can do. (shrink)

The purpose of the study is to study the theoretical foundations of the business activity of the enterprise and develop measures to improve it on this basis. The article discusses the theoretical aspects of transformation, regulation and increase of business activity of economic entities. The analysis of the business activity of the enterprise reflects a systematic assessment of the efficiency of the use by the business entity of its resources, which ensures the achievement of positive (...) results and the creation of a favorable investment climate, maintaining a stable financial condition and constant expansion and growth of production and sales volumes. The scientific novelty lies in the development and refinement of theoretical provisions and the definition of directions for increasing the business activity of small businesses. As a result, the main directions of increasing business activity have been identified. (shrink)

This paper analyzes the family business as an organizational entity and as a proprietary form useful to transmit personal values and company assets to the next generations. This paper aims to introduce the legal instruments in Italy to transfer family businesses and to evaluate how these are useful for ensuring not only the survival of the company in the market but also that family values and characteristics pass from one generation to the next maintaining a prosocial humanistic management (...) perspective. The legal status of the family business and the fact that most small- and medium-sized companies in Italy are not listed, which considerably affects disclosure obligations and makes it more challenging to get consistent and reliable information at affordable costs, has to date limited research on this model. In recent years, given their growth in size and market share, the strategic potential of family businesses was recognized by both academics and practitioners, giving rise to further study. A primary goal of a family business is to maintain its competitive advantage in the market and pass down its values in the succession line. Hence, one of the most important themes on which scholars focused has been how this process takes place to ensure continuity. This paper argues that the trust and the family pact are both valid legal instruments to this end, albeit with different advantages depending on the circumstances surrounding the succession. (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)

Meta-ontology (in van Inwagen's sense) concerns the methodology of ontology, and a controversial meta-ontological issue is to what extent ontology can rely on linguistic analysis while establishing the furniture of the world. This paper discusses an argument advanced by some ontologists (I call them unifiers) against supporters of or coincident entities (I call them multipliers) and its meta-ontological import. Multipliers resort to Leibniz's Law to establish that spatiotemporally coincident entities a and b are distinct, by pointing at a predicate F (...) () made true by a and false by b . Unifiers try to put multipliers in front of a dilemma: in attempting to introduce metaphysical differences on the basis of semantic distinctions, multipliers either (a) rest on a fallacy of verbalism, entailed by a trade-off between a de dicto and a de re reading of modal claims, or (b) beg the question against unifiers by having to assume the distinction between a and b beforehand. I shall rise a tu quoque, showing that unifiers couldn't even distinguish material objects (or events) from the spatiotemporal regions they occupy unless they also resorted to linguistic distinctions. Their methodological aim to emancipate themselves from linguistic analysis in ontological businesses is therefore problematic. (shrink)

This article addresses the recent call in business ethics literature for a better understanding of corporations as political actors or entities. It first gives an overview of recent attempts to examine classical issues in business ethics through a political lens. It examines different ways in which theorists with an interest in the normative analysis of business practices and institutions could find it desirable and fruitful to use a political lens. This article presents a distinction among four views (...) of the relations between corporations and politics: corporations as distributive agents, corporations as political communities, corporate practices and policies as citizenship issues, and corporations as active participants in the political process. This article finishes with an examination of three challenges that need to be overcome by the theory of the firm as a political actor. (shrink)

This paper critically analyses one of the unexpected results of qualitative research aimed at detecting the presence of unethical business practices in Slovakia. The authors seek to find out why entrepreneurs participating in this research do not take responsibility for the development of business ethics and why, in their primary reflections on unethical practices in the Slovak business environment, have they shifted it almost completely to the State level (1), and whether their attitude is morally justified (2). (...) The main theoretical foundation in the following analysis is the theory of development of business ethics on three levels (micro, mezzo and macro), also known as the “subject-matter of business ethics” approach. The paper discusses attitudes of the research sample, including Slovak entrepreneurs and company representatives, towards the State, and the consecutive critical reflection of their opinions shows that businesspersons tend to give up on their own proactive approach to the development of business ethics and position themselves in the role of an “expectant” instead of a “creator” of ethical standards in society. Furthermore, the paper points out that businesses lack ethical self-reflection in relation to corruption, more precisely, they lack reflection of their place in the corrupt relationship with the State. Given these findings, the paper concludes that an essential basis for the long-term development of business ethics in our country is the establishment of partnerships between the State and business entities, while recognizing the place of nongovernmental democratic institutions. (shrink)

Austrian business cycle theory is a body of hypotheses embodying particularly Austrian insights and assumptions. The canonical variant associated with Ludwig von Mises and Friedrich A. Hayek is particularly well suited to the Great Depression. However, it is an inadequate account of the recent US recession and financial crisis. This chapter develops a suitable ABCT variant that explicitly incorporates not only the economy’s time structure of production but also its structure of consumption and its risk structure. The continuous input–continuous (...) output nature of the housing market is highlighted, along with the Treasury and the Federal Reserve’s roles in externalizing the risk associated with government-sponsored entities’ debt. The chapter then extends Roger Garrison’s graphical framework to illustrate this ABCT variant. (shrink)

This paper is informed by the need for all businesspeople to forge a well-knitted collaboration against unethical business practices and immoral tendencies witnessed in the corporate world today. The scandalous revelations, of fraud, deception and other sharp practices, of many corporations all over the globe indicate that the issue of unethical business practices is pandemic in nature and should neither be localized nor treated with kid-gloves.It is a well known fact that a nation’s prosperity is entwined with the (...) way corporate entities run their businesses. The very foundation of corporate activities should firmly rest on high ethical business practices. It is a sure way to halt the spread of this leprous disease which has eaten deep into the very fabrics of the corporate world.This paper is an attempt to show that strong ethical and moral values, as against unethical and immoral values, are the major sustainable force behind continued strategic success of business enterprise. In other words, the essence of this paper is to argue that consistent ethical business practice can serve as a key to competitive advantage in an age of fierce competition where products and services look increasingly alike, and gaining customers’ trust and loyalty more important than ever. (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)

This paper builds on a debate between Velasquez and Fleming: Do multinational enterprises (MNEs) have ethical obligations to their host countries? Velasquez applies Thomas Hobbes' realism approach in arguing that MNEs have no special moral obligations to host countries: (a) obligations do not exist independently in a "state of nature," (b) MNEs exist in a "state of nature" independent of any sovereign authority or power, (c) therefore, MNEs cannot be compelled toward moral or ethical behavior. Fleming counters that the lack (...) of an international authority to compel morality from MNEs is irrelevant. MNEs are for-profit entities making rational economic decisions based on their perceived self-interest. Since they operate in "the goldfish bowl of international media," MNEs are very aware of the stakeholder model. First, the paper supports Fleming's position: Even if a philosophical case cannot be established for MNEs to act ethically - they still should. Being unethical in any arena, but especially in the international arena, is both bad-for-business and bad business. Applying stakeholder theory, if stakeholders perceive the MNE as unethical (which may or may not be true), the firm will ultimately lose business. (shrink)

A crucial step in economic development is the depersonalization of business, which enables an enterprise to operate as a separate entity from its owners and managers. Until the emergence of a de iure depersonalization of business in the 19th century, business activities were eminently personal, with managing partners bearing unlimited liability. Roman law even restricted agency. Yet, the Roman legal system developed a form of de facto depersonalized business entity, where depersonalization was achieved by (...) making the fulcrum of the business a non-person: the slave. Although radically different from a legal perspective, this format exhibited all the distinctive features of modern corporations, thereby providing for a functional equivalent of the modern corporate form. The development of the de iure format was hindered by strong cultural, technological and institutional constraints. In contrast, slave-run businesses exhibited features that were largely compatible with these constraints and emerged along the path of least resistance to legal change. The end of slavery and the fall of the Roman Empire closed off this alternative path of legal evolution; consequently, the modern corporate form could only appear once these constraints had been overcome. (shrink)

The growing role of universities in the knowledge economy as well as technology transfer has increasingly been conceptualized in terms of the hybridization of public academic work and private business activity. In this article, we examine the difficulties and prospects of this kind of intermingling by studying the long-term trajectories of two research groups operating in the fields of plant biotechnology and language technology. In both cases, the attempts to simultaneously pursue academic and commercial activities led to complicated boundary (...) maintenance, which arose from the conflicting procedures and requirements of the two activities as well as from the double roles assumed by the actors involved. We, thus, argue that the construction of boundaries is not as contingent and strategic as has often been assumed but is built, instead, on the characteristic goals and tasks of the activities in question. Moreover, we suggest that the discussion on university—industry relationships and the entrepreneurial university has by and large neglected the fact that most universities are either public sector entities or tax-exempt organizations thereby being subject to strict rules and regulations that govern the ways in which they may become engaged in commercial activities. Furthermore, several other enduring cultural features, such as the university’s commitment to open scholarly communication, make the boundary between university and commerce relatively stable. As a consequence, the results of this study lend support to the thesis according to which boundaries in science are not always created at will but reflect the long history and multifaceted societal relevance of this particular institution. This in turn implies that the commodification of university research is bound to be more difficult than what the proponents of the entrepreneurial university seem to assume. (shrink)

Monetary intelligence theory asserts that individuals apply their money attitude to frame critical concerns in the context and strategically select certain options to achieve financial goals and ultimate happiness. This study explores the dark side of monetary Intelligence and behavioral economics—dishonesty. Dishonesty, a risky prospect, involves cost–benefit analysis of self-interest. We frame good or bad barrels in the environmental context as a proxy of high or low probability of getting caught for dishonesty, respectively. We theorize: The magnitude and intensity of (...) the relationship between love of money and dishonest prospect may reveal how individuals frame dishonesty in the context of two levels of subjective norm—perceived corporate ethical values at the micro-level and Corruption Perceptions Index at the macro-level, collected from multiple sources. Based on 6382 managers in 31 geopolitical entities across six continents, our cross-level three-way interaction effect illustrates: As expected, managers in good barrels, mixed barrels, and bad barrels display low, medium, and high magnitude of dishonesty, respectively. With high CEV, the intensity is the same across cultures. With low CEV, the intensity of dishonesty is the highest in high CPI entities —the Enron Effect, but the lowest in low CPI entities. CPI has a strong impact on the magnitude of dishonesty, whereas CEV has a strong impact on the intensity of dishonesty. We demonstrate dishonesty in light of monetary values and two frames of social norm, revealing critical implications to the field of behavioral economics and business ethics. (shrink)

Abstract:The central problems of political philosophy (e.g., legitimate authority, distributive justice) mirror the central problems of business ethics. The question naturally arises: should political theories be applied to problems in business ethics? If a version of egalitarianism is the correct theory of justice for states, for example, does it follow that it is the correct theory of justice for businesses? If states should be democratically governed by their citizens, should businesses be democratically managed by their employees? Most theorists (...) who have considered these questions, including John Rawls inPolitical Liberalism, and Robert Phillips and Joshua Margolis in a 1999 article, have said “no.” They claim that states and businesses are different kinds of entities, and hence require different theories of justice. I challenge this claim. While businesses differ from states, the difference is one of degree, not one of kind. Business ethics has much to learn from political philosophy. (shrink)

[Editor's Note: The following new entry by Jeffrey Moriarty replaces the former entryon this topic by the previous author.], A business is a productive organization—an organization whosepurpose is to create goods and services for sale, usually at a profit.Business is also an activity. One entity “does business” with another when itexchanges a good or service for valuable consideration. Businessethics can thus be understood as the study of the ethical dimensionsof productive organizations and commercial activities. This includesethical (...) analyses of the production, distribution, marketing, sale, andconsumption of goods and services., Questions in business ethics are important and relevant to everyone.This is because almost all of us “do business”—i.e.,engage in a commercial transaction—almost every day. Moreover,many of us spend a major portion of our lives engaged in, or preparingto engage in, productive activity, on our own or as part of productiveorganizations. Business activity shapes the world we live in,sometimes for good and sometimes for ill., Business ethics is a huge field. Philosophers from Aristotle to Rawlshave defended positions on topics which can be understood as part ofbusiness ethics. At present, there are at least five journals devotedto the field, and work in business ethicsappears in mainstream philosophy and social science journals aswell., This entry summarizes important research on central questions inbusiness ethics, including: In whose interests should firms bemanaged? Who should manage them? What do firms owe their workers, andwhat do workers owe their firms? What moral rules should guidefirms’ engagement with customers? Should firms try to solvesocial problems? What responsibility do they have for the behavior oftheir suppliers? What role should firms play in the political process?Given the vastness of the field, of necessity certain questions inbusiness ethics are not addressed here. (shrink)

With the deepening of globalization, brand plays an important role in determining the competitiveness of enterprises. It is worth thinking about how to quantify the brand value reasonably to achieve the purpose of improving the competitiveness of enterprises. The research of commercial brands based on emotion analysis extracts the views of consumers on the evaluation data of brand attributes, analyzes the emotional tendency of consumers' views, and then helps enterprises adjust their production strategies. The purpose of emotion analysis is to (...) judge users' views and attitudes toward goods or services by analyzing texts. In this paper, the linear support vector machine model is used to extract and study the features in sentiment analysis. Then, the brand based on the fusion model is evaluated, and the experimental conclusions are drawn: the method of fusing the depth features extracted by word vector and the named entity extracted by CRF makes the brand effect of fusing emotional factors better than the feature extraction method only using CRF named entity recognition. It is proved that the model method proposed in this paper has a certain role in actual business. Feature fusion often combines shallow model methods and fuses various shallow feature screening technologies based on word segmentation results. This paper introduces fusion features and supplements feature vectors based on the results of the deep learning word vector model. Support Vector Machine maps feature vectors to some sample points in the space, finds a plane that can realize sample classification, and maximizes the distance between the two sample points closest to the plane in two types of samples, to maximize the classification performance and improve the generalization of the model. (shrink)

This Agenda 2050 piece is a call to action for management scholars to follow the lead of business associations, foundations, and businesses in studying and understanding the transformative change needed to bring about a more equitable and flourishing world for all living beings—including humans and other‐than‐humans. These entities advocate for a significant paradigm shift in how business is practiced as a way of responding to ‘polycrisis’—the interrelated set of civilization‐threatening crises that includes climate change, social inequality, and biodiversity (...) loss. Yet management scholars lag behind business discourse with issues of sustainability and ecological flourishing, adapting to the type of leadership needed for the future, and understanding the need for system change. We provide four keystone pathways to help scholars shape future discourse in business scholarship, practice, and curricula: 1) structural changes to management education, 2) piloting social impact, 3) development of regenerative business models, and 4) moral, legal, and financial cases for action. (shrink)

Business corporations are important, often powerful actors within the economy. They are able to exercise power over other actors, such as employees, consumers and nation-states. This contribution discusses how corporate power is constituted (ontological question), for what purpose it should be exercised, (normative question) and how it should be controlled (governance question). It focuses on the competing anwers to these questions that have been proposed by three political theories of the corporation. Concession theories emphasize the state's role in chartering (...) corporations, and hence require corporations to act in the public interest. Contractualist theories present corporations as tools for contract partners (most often shareholders), with corporate purpose focused on the benefits to these partners. Real entity theories focus on the corporation as an autonomous, separate entity with a purpose to be determined by the group seeking incorporation. (shrink)

Numerous business research models or frameworks have been developed to explain, predict, and prescribe the decisions and actions behind changing organizational behaviors to advance sustainability, including sustainability issues related to businesses. The objective of this paper is to recognize that the integration of business sustainability models for the purpose of highlighting the need and prescriptions for more urgent and effective socio-economic and environmental crises resolution is a social innovation that can be encouraged both within and outside of (...) class='Hi'>business academics. The scope of the paper is the full set of current and near-future entwined socio-economic and environmental challenges that appear to need to be addressed holistically by entities at the multiple levels of organization , individual/community, and society. (shrink)

The international economy is changing at a rapid rate. The alteration and reduction of both geographical and political borders, coupled with the growing interdependence of socially, politically, economically, and legally diverse countries, have caused multinational corporate entities to revise various policies. These revisions include revisions in marketing strategies, strategic alliances, product and service strategies and, perhaps most importantly as it affects all strategies, a MNC's approach to ethical systems. The truly global company must come to grips with the legal and (...) moral atmosphere in which it operates. The concept of moral rights, those transcending legal or political rights, drives us to review four international codes of conduct and to attempt to develop one international uniform code that might be applicable to any business, in any country or culture. (shrink)

The events of September 11, the recent collapse of Enron, the ethical violations of NASDAQ brokers and dealers, and numerous other recent examples emphasize the need to teach ethical decision making to our students. We have created an interactive, internationally focused discussion case designed to foster student involvement in a hypothetical situation. The vignette allows the participating students to see an ethical situation evolve according to their own decisions. Student involvement in the decision process builds emotional content designed to build (...) student interest in the topic, thereby facilitating productive classroom discussions. The international focus of the case engenders discussions of multicultural issues and difficulties in managing a multinational entity. The vignette is suitable for an international course, a management course, or a course in business ethics. (shrink)

The article begins with a view of recent developments in the discipline of business law. A model useful in the study of business ethics is presented. Business ethics is the philosophical examination of the body of values and conceptions that influence business decision making as well as being pervasive components of the social environment in which businesses operate. Our model is a four-part framework for approaching business ethics which is sensitive to its implications for (...) class='Hi'>business law. The model's four parts are: (1) ethical theory, (2) institutional frameworks, (3) organizational cultures, and (4) individual moral choice and responsibility. Topics, issues, and kinds of material appropriate for approaching each of these four are presented, and a list of scholarly articles, books, and court cases, is included as a source of additional classroom material. (shrink)

The video game producers are currently in spotlight of market information services. Successes and huge budgets of such companies attract many readers. However, scientific studies related to this sector do not share the same popularity. A reflection on the source of value in this sector shows that what generates revenues is not disclosed in the report. Great examples are customers’ relationships or the value of employees creating the game code and story of the game. Video games producers sector presents a (...) good combination of business and culture that allows reflection on financial characteristics of knowledge based companies. Prior studies show that market’s valuation takes into account unrecognised assets but capital-intensive character of a production and intangibility of a product and its assets causes problems with exact valuation. In this paper the author asks about the impact of the characteristics on the assessment of a financial condition. The research question in this paper is whether it is possible to use and interpret correctly popular discriminant analysis model for knowledge based entities on the example of video game companies. Results are applicable by analysts and managers of this sector and help to determine the usefulness of this method, but it still depends on assumptions and accounting policies. The reflection presented also broadens the discussion on financialisation because analysed companies can oppose this trend in a specific way. (shrink)

“Daily Mail”, “Centros”, “Überseering” and “Inspire Art”: The ECJ has triggered by applying the principle of freedom of establishment step by step the competition between EU corporate legal systems. Entrepreneurs and investors within the EU now can choose between the various corporate legal forms of the various member states when deciding where and how to carry out their business. “Corporate Business Forms in Europe” is the first compendium including a review and description of the most important types of (...) corporate business forms in the newly enlarged Europe. In particular with respect to the proposed directive concerning the transfer of the registered office of a company from one member state to another under perpetuation of its legal capacity this compendium becomes an indispensable reference book for investors/businessmen, lawyers and students providing practical information starting with the formation and ending with the winding up of the various types of corporate entities presented. The team of authors comprises lawyers and professionals from the various countries concerned with a profound background in corporate law. (shrink)

Postmerger integration is a highly challenging and demanding task. Its success depends not only on economic factors but also on the organisational members' feelings and their personal contribution to the new entity. Mergers are usually made for the sake of profitability in the first place, whereas less attention is paid to employees in such situations. This article describes various ethical observations made in our study on corporate mergers in the Nordic Electro-business industry. We examine how the organisational change (...) was experienced by personnel, what kinds of ethical reflections surfaced in different phases of the process, and what conclusions might be drawn from them. The main focus is on the ethical meanings that emerged in our interviewees' stories spontaneously, without the topic of ethics having been separately brought up in the interview situation. The organisational members: we interviewed 35 electro-business employees who were either transferred from Vattenfall's contracting unit to the acquiring company or were already working there at the time of the merger. These persons were interviewed twice: first in 2001, the year of the initial merger, and again in 2005, 4 years from the start of the process and 1 year from the final ownership change. The merger process seemed to lead to decreased responsibility among the organisational members, which highlights the discrepancy between genuine ethical thinking and executive talk. Our study also revealed a dramatic shift in the moral attitudes of the managers who fell from power in the turmoil of organisational change. This moral dimension is evident in their sharply critical argumentation against the new operating model and new corporate management, as well as in their eventual indifference and non-commitment to the organisation. The ethical meanings of 'the good life' and a happy work community slowly disintegrated and were replaced by a longing for the earlier communality and sense of togetherness in their old organisation. This meant that 'the good life' would have to be sought elsewhere. (shrink)

If Solomon is correct in labeling businesses as community citizens because they “are part and parcel of the communities in which they live and flourish, and the responsibilities that they bear are ... intrinsic to their very existence as social entities,” then it follows that other community citizens have reciprocal duties toward them that they, as community citizens, have to any other community citizen. One of these duties is not to harm needlessly another community citizen without its permission. One issue (...) affecting business is genetically engineering children to have characteristics, e.g., deafness, which render them disabled in work environments. Since business is a very large part of society, citizen responsibilities toward it in regard to intentionally creating deaf children should be examined. It is my contention that designing disabled offspring is unethical on the grounds that it causes undue injury to businesses without their permission in any form. (shrink)

The continuous inclusion of new technologies in organizations challenges business ethics and creates new problematics in work life. Managers in particular are challenged insofar as they must learn how to adapt general technological hardware to local organizational needs and work habits. Based on new empirical research conducted in Danish health care organizations, it investigates how managers experience technologies and how these experiences affect their professional ethics; it asks: a) What kinds of ethics do managers consider when using new technologies? (...) b) How are these ethics negotiated? Using a techno-human practice approach—which takes into account both human and non-human entities as the basis of moral judgment—the new technologically-induced ethical dilemmas faced by managers are discussed. A typology of techno-ethics is introduced, which presents situated ways of engaging with technologies in businesses. By employing multiple ethics connected to the use of technologies in organizations might make managers more ethically responsible in decisions concerning technologies. (shrink)

The concept of bribery is important to our thinking about ethics, especially in professional contexts. This is in no small part due to the thought that, as Seamus Miller has put it, bribery is “a paradigm of corruption”. Business persons and corporate entities are often evaluated by how well they remain free from, root out, and punish corruption – especially in democratic societies. It is a common thought, for example, that a democratic institution ought to be free from corruption. (...) Since bribery is often thought a form – perhaps the paradigmatic form – of corruption, bribery, too, serves as a central concept in our evaluations of business persons and corporate entities. This article will lay out three common elements which together are characteristics of bribery (payment, intention, and wrongdoing), and then briefly illustrate how this conjunction of elements allows for distinguishing between bribery and two other questionable acts often examined in the context of business (grease payment and extortion). (shrink)

The purpose of the research is to develop a new methodological basis for identifying, analyzing and solving problems of international corporations export-import activities and to ground the directions for ensuring their business excellence. The approach originality provides introduction of a conceptual model that aims to eliminate the negative symptoms of international corporations export-import activities based on the results of comprehensive market research, effectiveness of export-import activities and calculation of the integrated indicator of business excellence. The leading corporations of (...) Slovakia and India in the production of bi-axially oriented polypropylene (BOPP) films were the primary basis for this study. The results of the research showed the need to implement a system of managerial innovation for reasoning the directions of ensuring international corporations business excellence. This is achieved because of using logically formalized methods and provides the improvement of organizational and structural interaction of management entities in the process of solving export-import activity problems. Important factors for ensuring business excellence are also the optimization of export and import costs, as well as an increase in export revenue for Slovak companies, and an increase in market share and cost optimization for Indian companies. The practical value of the obtained results is to develop a set of managerial innovations that can improve the efficiency of export-import activities and improve international corporations business. (shrink)

One of the most striking features of Athenian laws regulating commercial activities is the absence of any concept akin to the modern legal notion of the partnership or corporation. Despite the presence in Athenian society of numerous koinoniai, groups of individuals cooperating for some purpose, be it commercial or otherwise, Athenian law concerned itself solely with individual persons and did not recognize the separate legal existence of collective entities. And just as Athenian law did not recognize the legal existence of (...) partnerships or corporations, it also did not possess the notion of corporate liability. This meant that if someone entered into an agreement with a group of individuals and one of those individuals violated the terms of the agreement, the plaintiff proceeded only against the individual who acted contrary to the agreement, not against the group as a whole. If the plaintiff won his suit, he only had a right to receive compensation from the defendant's private property; he did not have a claim on all the funds held in common by the group. (shrink)

_Relevance. _The role of internal audit in the entity's governance structure is constantly evolving. For a variety of reasons, internal auditors engage in an in-depth analysis of business processes to help ensure that these processes are working properly and effectively. One reason is that advanced entities expect internal auditors not only to verify compliance with laws and procedures, but also to suggest ways to make internal control more effective. However, often internal auditors in entities do not perform the (...) function they could and should perform. They focus on tax matters, financial statements, and assess compliance with procedures. Internal auditors are sent where problems arise to play the role of auditors to detect errors and report blame. In some entities, internal auditors are separated from business or operational problems, leaving them with the traditional function of verification [Daujotaitė et.al. (2015), Tarptautiniai vidaus audito profesinės praktikos standartai (2004), Rupšys et.al. (2007), Lakis (2017)]._ _ Scientists investigate internal audit from different angles, highlighting issues in the design and implementation stages of internal audit. Recently, the scientific literature has increasingly focused on the quality of internal audit and its evaluation. The collapse of banks also contributed to this, although in 2007 Bank SNORAS Internal Audit Service was awarded the title of "Oldest Internal Audit Service" by the Lithuanian Association of Internal Auditors. Although it is believed that poor quality audit is only due to insufficient qualification and professionalism of the auditor, this view can be negated by the list of factors determining the internal audit environment [Lakis (2007), Lietuvos Respublikos vidaus kontrolės ir vidaus audito įstatymas (2002), Pickett (2011)]. Modern performance and business management tools require employees to change their well-established work habits, but internal audit is still associated with the function of verifier for many managers and internal auditors themselves. The speed of adapting to changes in the environment depends on the success of operations and business, which requires managers to have a modern approach to their internal audit function. _Research aim:_ Identify and evaluate the determinants of the internal audit environment. _Research methods: _Systemic analysis of scientific literature and legislation and questionnaire survey. _Research results and conclusions_: Systematic analysis of the literature suggests that the following key factors exist in the internal audit environment: the legislative environment; regulatory enactments; business practices in the region. The first two factors are otherwise known as legal regulation. It should be noted that there are significant differences in the legal level of audit regulation between external, public and internal auditing. Most of the regulations are for external audit, and least for internal audit. An analysis of the legal literature and regulatory documents on internal audit suggests that only the public sector and, to some extent, commercial banks are required to comply with statutory and regulatory requirements that are binding on them. The activities of private sector internal auditors are not regulated by law, the functions of internal auditors are determined by the managers of the entity in which they work, and the standards are purely advisory. The beginning of the establishment of internal audit in Lithuania is considered to be 1995, when the Board of the Bank of Lithuania approved the Procedure of the Internal Audit Service of Commercial Banks and obligated commercial banks to establish internal audit services. The development of internal audit in the Lithuanian public sector was started only in 2000. In accordance with the 2000 February 7th Government of the Republic of Lithuania resolution no.127 On Internal Audit of State-owned Enterprises and Institutions, internal audit units or positions have been established within public institutions. 2002 January 1st this resolution was replaced by the Republic of Lithuania Law on Internal Control and Internal Audit. International Standards on Internal Auditing that set out the principles for conducting internal auditing are applied worldwide. The standards themselves are fairly generalized, setting only basic requirements and guidelines, as TVAI seeks to have the standards adopted by the widest possible audience. The Internship Regulations provide interpretations and more detailed explanations of the Standards of Professional Practice in Internal Auditing. Standardization and other supporting materials include methodological literature, studies and reviews, books, seminars, conferences and more. A systematic analysis of the literature indicates that sufficient legislation and regulations have been adopted, which has a positive impact on the internal audit environment. In order to assess the impact of business practices in the region on the internal audit environment, a questionnaire survey was conducted among the employees of the entities. It showed that a manager's attitude towards internal audit is strongly influenced by his education. Internal audit is acceptable to higher education managers because they are more open to change and open to change. Educated executives enable the internal auditor to be qualified and understand that internal audit requires an appropriate amount of knowledge. Respondents were also asked about their views on the internal audit process. When employees are not hostile to auditing and evaluating their work, it positively affects the internal audit environment, enabling internal auditors to play the role they would like to have in the company. (shrink)

The goal of this article is to present the possibility of using Diagnosis- Related Groups (DRG) in the hospital management process and to analyse the need for business performance management on the part of hospital management staff. The following research methods were used: literature analysis, case studies, and poll analysis. It is not possible to increase the effectiveness of operation of healthcare entities without increasing the importance of IT systems and using DRG more effectively in the management process. Training (...) users in IT and the use of DRGs is important to achieving hospital effectiveness. The increased importance of analyses and planning in a hospital should be reflected in the organisational structure of service providers. Hospital controllers should have a similar role to those present in most companies in other industries. (shrink)

The basis of the economic power of the state is the stability of the existence of each business entity by ensuring their economic security. Today, the successful management of the enterprise for progressive development requires new forms and methods of evaluation team activities, the quality of the results of labor, production checks and social processes, which are expressed often in qualitative characteristics. The method for evaluation process to ensure the economic security of any object of economic activity by (...) qualimetry was introduced in article. Proposed method is based on expert opinion. Determined algorithm for use this method and possible for use. The proposed qualimetric model of evaluation the process to ensure the economic security for object of economic activity, allows determine and quantify shortcomings in the work of the enterprise, detect way to improve process to ensure the economic security of any object of economic activity by adequate amount of management solutions, make conclusion in dynamics of this process, to have a possibility to compare work results of different object of economic activity. The method facilitates the adoption of adequate administrative decisions, with further assessment of objectives achievements. (shrink)

This article examines the transformation of enterprises activity in terms of digitalization of business processes. The rapid and global spread of information and communication technologies contributes to the development of the digital economy and causes changes in the economic environment, which leads to the transformation of business activities, methods of transactions and the level of connections between economic entities. Globalization and digitalization of the economy transform the key characteristics and objectives of enterprises, the directions of their development and (...) business management processes. Technological innovations create benefits that affect the economic system as a whole and its individual components. At the same time, the introduction of innovations is carried out in conditions of uncertainty and is associated with a high degree of risk that affects the economic security of enterprises. In the new conditions of information economy development, the competitive struggle of enterprises is intensifying, the models of enterprise management are changing, and the level of digitalization of business processes is growing. The digital age is changing the approach to doing business. The use of information technology such as marketing management systems, sales and service, telephony and messengers, document management and personnel management systems, accounting systems and other applications transform the activities of enterprises. In the process of enterprise modernization, information becomes a new factor of production, which gradually replaces other factors of production. Тechnology continues to be the largest sector in terms of market capitalization. Effective implementation of innovations, digitalization of business processes allows companies to increase their productivity, achieve the required level of competitiveness and take a stable position in the markets. (shrink)

I explored the relationship between the “Black Axe” Confraternity and cybercrime, with a particular emphasis on the structural dynamics of the Business Email Compromise (BEC) schemes. I investigated whether a conventional hierarchical system governs the membership and remuneration for BEC roles as perpetrators by interviewing an accused “leader” of the “Black Axe” affiliated cybercriminal incarcerated in a prominent Western nation. I supplemented the analysis of interview data with insights from tapped phone records monitored by a law enforcement entity. (...) I merged Actor-network theory and Social Network theory as analytical frameworks and thematically analyzed data to produce six overarching themes: (1) The fluidity of Structure and Adaptive Roles in BEC, (2) Challenges in Visualizing Criminal Networks, (3) Globalization and Transnational Dimensions, (4) Social and Cultural Influences, (5) Internal Cybersecurity Threats and Money Laundering, and (6) Remuneration and Influences of Cryptocurrency, casting a brighter light on the topic. Unlike traditional organized crime, BEC scammers have adopted a nonhierarchical model that is flexible and fluid. I found no evidence of a rigid hierarchy dictating positions and remuneration for BEC roles. Instead, I observed that cybercriminals involved in BEC activities functioned horizontally, promoting fluidity, maneuverability, collaboration, and specialization across various facets of their illicit pursuits. I also highlighted the cross-border links BEC offenders have with other criminal actors facilitated by Black Axe organizational machinery. My research adds value to the existing body of knowledge, utilizing a unique dataset comprising direct testimonies of a high-profile BEC offender affiliated with the ‘hard–to–access,’ Black Axe gang. (shrink)

In recent years, the United Nations has taken a lead in advocating public-private partnerships (PPPs), and various UN entities actively seek partnerships and alliances with transnational corporations and other companies. Although there has been a rapid growth of PPPs, relatively little is known about their contribution to basic UN goals associated with inclusive, equitable and sustainable development. In response to this situation, there are increasing calls for impact assessments. This article argues that such assessments need to recognize the range of (...) ideational, institutional, economic and political factors and forces underpinning the turn to PPPs, and the very different logics and agendas involved, some of which seem quite contradictory from the perspective of equitable development and democratic governance. The article examines these different forces and logics, focusing on (a) the institutional turn towards "good governance", (b) economic contexts that relate to the very mixed "fortunes" of UN agencies and corporations, (c) structural determinants associated with "corporate globalisation" and (d) political drivers that relate to the struggle for hegemony and legitimisation. The article ends by reflecting critically on the tendency within mainstream development institutions and some strands of academic literature to highlight logics associated with good governance and pragmatism, and to disregard those associated with the strengthening of corporate interests and the neoliberal policy regime. It is argued that knowledge networks associated with the UN need to go beyond "best practice learning" and embrace "critical thinking", which has waned within UN circles since the 1980s. (shrink)

This contribution delves into the concept of ‘corporate sovereignty’, where companies, akin to states, function not only as economic entities but also as political actors exercising a novel form of sovereignty. Although business ethics typically approaches corporate power from ethical, legal, and economic perspectives, these viewpoints prove inadequate in conceptually grasping the specific form of power, namely sovereignty. In an era of escalating corporate influence and contested state authority, political theology becomes indispensable. The political theology of Carl Schmitt, though (...) not prominently featured in business ethics, provides valuable insights into how corporate power manifests in contemporary reality, particularly as ‘corporate sovereignty’. Schmitt contends that sovereignty reveals itself in exceptional circumstances, a concept paralleled by companies exercising sovereignty. Political theology unveils the political concepts and power dynamics behind corporate sovereignty, necessitating a broader approach in business ethics where political philosophy and theology play a crucial role. (shrink)

In this paper, I develop two philosophically suggestive arguments that the late Justice Stevens made in Citizens United against the idea that business corporations have free speech rights. First, (1) while business corporations conceived as real entities are capable of a thin agency conceptually sufficient for moral rights, I argue that they fail to clear important justificatory hurdles imposed by interest or choice theories of rights. Business corporations conceived as real entities lack an interest in their personal (...) security; moreover, they are incapable of exercising innate powers of choice. Second, (2) I argue that the structure and functionally individualized purpose of a business corporation—to increase value for its shareholders—undermines the implicit joint commitment necessary to derive corporate rights of free speech from non-operative shareholder-member rights. Since one cannot transfer innate moral rights such as free speech, any exercise of this right on behalf of another must be limited in scope. (shrink)