Business Ethics and Corporate Governance, Second Edition

CHANGING BUSINESS ENVIRONMENT AND ETHICAL CHALLENGES

Companies these days respond to the changing business environment by adopting new and effective tools to communicate their ethical culture. The fast-changing external environment of business necessitates positive changes in the response of individual organizations. The change that is created by information and technological explosion is such that organizations cannot resist change any more. With these changes, several ethical issues have to be faced and solved to the satisfaction of all stakeholders. Due to the increasing shift in business growth, most of the organizations tend to give more powers to those at the lower levels of hierarchy leading to decentralization of powers and decision making. ...