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Multidimensional Ethical Dilemmas of Contemporary Organizations: A Literature Review

Author

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  • Ugonna Augustina Ofurum

    (Department of Management, Faculty of Management Sciences, Rivers State University, Nkpolu. Oroworukwo, Port Harcourt)

  • Justin Mgbechi Odinioha Gabriel

    (Department of Management, Faculty of Management Sciences, Rivers State University, Nkpolu. Oroworukwo, Port Harcourt)

Abstract

This paper reviewed the literature on ethics, ethical theories, ethical principles; as well as the implications of unethical practices in organizations. The study revealed that unethical business practices have devastating consequences on organizations; since they result in poor corporate image, financial losses; market failures and sometimes complete corporate collapse. It was further observed that corruption, bad leadership, poor corporate governance, conflict of interest, lack of accountability, inadequate CSR, abusive and intimating behaviors among others are common in most organizations. The paper concludes that it is beneficial and in the enlightened self -interest of organizations to adopt good ethical practices. The paper also recommends that managers’ should ensure that ethical standards are crafted in their business philosophy and strategic intents in order to build and maintain a good corporate image.

Suggested Citation

  • Ugonna Augustina Ofurum & Justin Mgbechi Odinioha Gabriel, 2019. "Multidimensional Ethical Dilemmas of Contemporary Organizations: A Literature Review," International Journal of Innovation and Economic Development, Inovatus Services Ltd., vol. 5(3), pages 7-18, August.
    • Handle: RePEc:mgs:ijoied:v:5:y:2019:i:3:p:7-18
    DOI: 10.18775/ijied.1849-7551-7020.2015.53.2001
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    References listed on IDEAS

    as
    1. Cynthia Stohl & Michael Stohl & Lucy Popova, 2009. "A New Generation of Corporate Codes of Ethics," Journal of Business Ethics, Springer, vol. 90(4), pages 607-622, December.
    2. Muel Kaptein & Mark Schwartz, 2008. "The Effectiveness of Business Codes: A Critical Examination of Existing Studies and the Development of an Integrated Research Model," Journal of Business Ethics, Springer, vol. 77(2), pages 111-127, January.
    3. Cam Caldwell & Do Truong & Pham Linh & Anh Tuan, 2011. "Strategic Human Resource Management as Ethical Stewardship," Journal of Business Ethics, Springer, vol. 98(1), pages 171-182, January.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Contemporary Organization; Ethical challenges; Ethical theories; Ethical Principles;
    All these keywords.

    JEL classification:

    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General

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