Advice, Tips, and Observations on Business and Consumers

Ethics in Business

In a context of weakening of the state and its resources, companies today often appear as the supporting institutions of public good and public interest, especially when it comes to multinational companies. These solicitations to involve the company in the provision of public goods is often accompanied by a certain mistrust.

It is at the confluence of this double movement, which often causes the issue of conflicted values ​​held by businesses, and more widely that of ethics. Ethical theories often considered to be a strong ambition, nearly impossible, characterised by a constant need to be satisfied. These theories are indeed thoughts on a personal level. How to approach ethics in business? What is business ethics? Can we qualify it the same way for an individual?

We will focus initially our attention on the individual company before bringing it to the institution. Individual owners are most likely to opt for ethical behavior in business . And if so, is that enough to qualify the business as being ethical ? Which internal levers is being actually used to support the business? And what are the obstacles to the adoption of such behavior ? These questions are part of the search of the company's goals in terms of ethics As an institution, a company is both directly and indirectly involved in socio- economic relations. Why the company, through its governance would willingly impose ethical practices hence restrictions ? Are these practices enough to guarantee compliance with the general interest or the public good , or should it be supplemented by external levers ? And if so, which?

One wonders to what extent the external environment is likely to provide levers that can guide the company to adopt ethical practices. And conversely, how the company can influence the evolution of ethical practices of its environment. Does he need for external regulation and in which (s) area (s)? What role can public authorities on the incentive and regulatory? What role can economic actors? What can be the impact of corporate ethics on its regulatory and economic environment? It remains to be followed in the next blogs of Mauritius Yellow Pages concerning Ethics.

12 June 2016