CHAPTER 8

Business philosophy(ethics and morality) andstrategic management

There are three aims of this chapter. The first is to examine the issue of ethics and morality in modern business. The second is to present two different ways of thinking about such matters, either as constraints or as obligations under the stakeholder concept. A final aim is to describe the social audit, a process through which an organisation can measure and monitor its standards of behaviour.

Most managers would accept the statement that every business has to observe certain obligations which modify the way it operates. There would be widespread disagreement over the extent and nature of these obligations and the way in which they should be allowed to influence or ...

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