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A NOTE ON ETHICS AND STRATEGY: DO GOOD ETHICS ALWAYS MAKE FOR GOOD BUSINESS?
Author(s) -
SCHWAB BERNHARD
Publication year - 1996
Publication title -
strategic management journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 11.035
H-Index - 286
eISSN - 1097-0266
pISSN - 0143-2095
DOI - 10.1002/(sici)1097-0266(199606)17:6<499::aid-smj811>3.0.co;2-b
Subject(s) - business ethics , reputation , shareholder value , value (mathematics) , ethical code , asset (computer security) , shareholder , business , law and economics , code (set theory) , information ethics , economics , engineering ethics , law , management , political science , computer science , corporate governance , engineering , computer security , set (abstract data type) , machine learning , programming language
Viewing business ethics as enlightened self‐interest that always pays in the long run is too easy. While reputation can be a valuable asset, not being tied to a particular code of ethics has an option value. The need for widespread laws and regulations that restrict behavior confirms this. Being ethical may cost—it is still worth pursuing if we believe in goals that transcend shareholder value.