How to manage business ethics effectively?

• Main Author: Tran Kiem Viet Thang
• Format: Article
• Language: English
• Published: HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE 2012-08-01
• Series: Ho Chi Minh City Open University Journal of Science - Economics and Business Administration
• Subjects: business ethics; corporate ethics code; corporate social responsibility
• Online Access: https://journalofscience.ou.edu.vn/index.php/econ-en/article/view/75

The main purpose of this paper is exploring ways to manage business ethics effectively. To achieve this, first of all, the paper reviews the concepts and importance of business ethics together with its components, such as corporate ethics codes and corporate social responsibility (CSR). Next, five ways to manage business ethics efficiently are revealed. Based on these suggested ways, the paper recommends four practical actions for managers to have good management skills in this field. These recommendations are setting up an effective corporate ethics code, acting and behaving ethically in any circumstances, setting up rules and regulations, and advancing CSR in a very wise way. The paper concludes with two issues for future researchers: whether corporations need a business ethics manager/ specialist, and how companies motivate their employees to act ethically