Business Ethics and Corporate Governance, Second Edition

CORPORATE DILEMMA OVER ETHICAL BEHAVIOUR

Several corporate managements are in a dilemma whether it is worth their while to act ethically and practice corporate governance in their companies. Investing in ethical practices and being fair to all stakeholders will cost the corporates dearly. Therefore, most of them are in a dilemma. Moreover, in business, more than elsewhere, we are faced with moral and ethical dilemmas daily. We are faced with moral choices not only between right and wrong, but also between right and right. An ethics poster in Boeing said it all: ‘Between right and wrong there is a troublesome grey area.’ According to Joseph Badaracco,⁴ ‘We have all experienced situations in which our professional responsibilities unexpectedly ...