Book Review: Business Ethics After the Global Financial Crisis by Christopher Cowton, James Dempsey, Tom Sorell
Business Ethics After the Global Financial Crisis Review
The book Business Ethics After the Global Financial Crisis by Christopher Cowton, James Dempsey, and Tom Sorell is a thought-provoking analysis of the ethical crisis that took place during the global financial meltdown. The authors have highlighted how this unfortunate event has exposed the weaknesses in corporate ethics and resulted in an urgent need to rebuild them.
The book focuses on different aspects of ethical management in business, including social responsibility, sustainability, and corporate governance. The authors argue that these areas require attention to ensure that businesses are run ethically. They provide detailed examples and case studies to support their arguments; making it easier for readers to understand complex concepts.
One of the most valuable lessons from this book is how important it is for businesses to have a long-term view on their operations. In today’s world, short-term profits and narrow-minded perspectives can lead companies down a path of ethical breaches that can severely damage their reputation.
Another aspect worth mentioning is how the authors have done an excellent job of bringing together academic arguments with practical applications. This approach makes it easier for readers to bridge the gap between theory and application. In addition, they offer actionable insights on what companies can do to support a culture of ethical behavior.
While reading this book, one may feel slightly overwhelmed by some sections’ density or technical language. Despite this potential drawback, it remains an insightful read that invites readers to reflect on what they can contribute as individuals in various fields.
In conclusion, Business Ethics After The Global Financial Crisis is an excellent read for anyone interested in understanding how ethical considerations play into modern-day business practices; It provides valuable insights into what companies should do if they want to be perceived as trustworthy and socially responsible entities that contribute positively to society. This insightful analysis undoubtedly elevates our understanding of ethics beyond compliance considerations alone.
Business Ethics After the Global Financial Crisis
The global financial crisis (GFC) that began in 2007 concentrated attention on the morality of banking and financial activities. Just as mainstream businesses became increasingly defined by their financial performance, banks, it seemed, got themselves – and everyone else – into trouble through an over-emphasis on themselves as commercial enterprises that need pay little attention to traditional banking virtues or ethics. While the GFC had many causes, criticism was legitimately levelled at banks over the ethics of mortgage creation, excessive securitisation, executive remuneration, and high-pressure customer sales tactics, amongst other things. These criticisms mirror those that have been levelled at the business more generally, particular in the last decade, although the backdrop provided by the GFC is more dramatic, and the outcomes of supposed wrongdoing more severe.This book focuses on business ethics after the GFC; not on the crisis itself, but how we should respond to it. The GFC has focused minds on the proper role of ethics in the understanding and conduct of business activity, but it is essential to look beyond the crisis to address the deeper challenges that it highlights.The aim of this volume is to present examples of the latest philosophically-informed thinking across a range of ethical issues that relate to business activity, using the banks and the GFC – the consequences of which continue to reverberate – as a point of departure. The book will be of great value to researchers, academics, practitioners, and students interested in business, ethics in general, and business ethics in particular.
publishedDate : 2021-03-31
authors : Christopher Cowton, James Dempsey, Tom Sorell
publishers : Taylor & Francis Group
pageCount : 190
Author by : Adam Arvidsson
Languange Used : en
Release Date : 2013-07-23
Publisher by : Columbia University Press
Description : A new, more balanced system of economic production and wealth distribution that fundamentally rethinks the definition of value....
Author by : Ronald R. Sims
Languange Used : en
Release Date : 2017-06-01
Publisher by : IAP
Description : When a New Leader takes Over: Toward Ethical Turnarounds takes a detailed look at the experiences of new leaders who are charged with turning an organization around following an ethical scandal. The challenges confronting new leaders who are tasked with restoring trust, rebuilding reputation, and turning around an organization following an ethical scandal are discussed along with specific actions taken by these leaders during the turnaround process. A main focus of the book is to offer insight into the difficult situations confronting new leaders at the beginning, during and after their turnaround experiences which means turning an unethical organizational culture into an ethical one. A number of examples of turnaround efforts that have taken place over the past two decades are included to provide the most comprehensive documentation of the ethical turnaround process. The book includes an in-depth look at what led to the unethical behavior by examining a number of real-world examples of ethical scandals from around the world. The book will provide an analysis of the various ethical scandals by focusing on concepts like unethical leadership, received wisdom, groupthink and moral silence, all of which contribute to the kind of organizational culture and unethical behavior one finds in organizations that experience ethical scandals. The book also discusses proactive leadership and its importance in implementing ethical turnarounds based on values-based leadership, employee involvement and ethics education. A main premise of this book is that new leaders can successfully create an organization environment to rebuild and institutionalize ethical behavior as part of the turnaround process and sustain ethical behavior beyond the turnaround. The book will be of interest to employees at all levels of an organization, business professionals and other practitioners and others who have an interest in organization change, transformation and ethical turnarounds....
Author by : Deborah C Poff
Languange Used : en
Release Date : 2023-05-24
Publisher by : Springer Nature
Description : This encyclopedia, edited by the past editors and founder of the Journal of Business Ethics, is the only reference work dedicated entirely to business and professional ethics. Containing over 2000 entries, this multi-volume, major research reference work provides a broad-based disciplinary and interdisciplinary approach to all of the key topics in the field. The encyclopedia draws on three interdisciplinary and over-lapping fields: business ethics, professional ethics and applied ethics although the main focus is on business ethics. The breadth of scope of this work draws upon the expertise of human and social scientists, as well as that of professionals and scientists in varying fields. This work has come to fruition by making use of the expert academic input from the extraordinarily rich population of current and past editorial board members and section editors of and contributors to the Journal of Business Ethics....
Author by : Dilanthi Amaratunga
Languange Used : en
Release Date : 2011-06-13
Publisher by : John Wiley & Sons
Description : Disasters threaten all parts of the world and they appear to be increasing in frequency, scale and intensity. Despite huge improvements in the emergency response, permanent reconstruction is often uncoordinated, inefficiently managed and slow to begin. International agencies are geared to an efficient response in terms of humanitarian relief, but they are not well versed in the requirements of long-term reconstruction, which is often constrained by lack of planning and poorly coordinated management. The construction industry is typically engaged in a range of critical activities after a disaster, including provision of temporary shelter in the immediate aftermath and restoration of permanent shelter and public infrastructure once the immediate humanitarian needs have been attended to. Post-Disaster Reconstruction of the Built Environment identifies the challenges that face the industry and highlights best practice to enable the construction industry to address those problems which make an effective response to these unexpected events difficult. Written by an international team of experts, this book will help researchers and advanced students of construction understand the problems faced by communities and the construction industry when faced with a natural or man-made disaster, and identify the planning and management processes required by the industry to mount an effective response....
Author by : Robert R. Ulmer
Languange Used : en
Release Date : 2017-11-10
Publisher by : SAGE Publications
Description : In this fully updated Fourth Edition of Effective Crisis Communication, three of today’s most respected crisis/risk communication scholars provide the latest theories and innovative approaches for handling crisis. Unlike other crisis communication texts, this acclaimed book answers the question, “what now?” and explains how organizations can create the potential for opportunity, renewal, and growth through effective crisis communication. Authors Robert R. Ulmer, Timothy L. Sellnow, and Matthew W. Seeger provide guidelines for taking the many challenges that crises present and turning those challenges into opportunities. Practical lessons and in-depth case studies highlight successes and failures in dealing with core issues of crisis leadership, including managing uncertainty, communicating effectively, understanding risk, promoting communication ethics, enabling organizational learning, and producing renewing responses to crisis. New to the Fourth Edition: New and updated examples and case studies include diverse cases from recent headlines such as SeaWorld’s reaction to Blackfish, the United Airlines debacle, and the Flint Water Crisis. Updated theories and references throughout provide you with the latest information for effective crisis communication....
Author by : Robert C. Chandler
Languange Used : en
Release Date : 2014-03-10
Publisher by : Bloomsbury Publishing USA
Description : There is a crisis of trustworthiness in business and corporate integrity. This book identifies the specific actions to create and sustain integrity in businesses and corporations—steps that can restore the public's trust and confidence as well as improve company performance. Business and Corporate Integrity: Sustaining Organizational Compliance, Ethics, and Trust addresses a critical, contemporary topic of wide public concern from a pragmatic, solution-oriented perspective. Offering insights from world-class scholars and a range of subject matter experts, this accessible, two-volume work defines the nature of corporate integrity and business ethics in the current climate of scandals and an increasingly skeptical public, allowing readers to fully understand the importance of the subject. In addition, it uniquely provides practical methods, tactics, and tools to effectively address issues of integrity in the organizational environment. The first volume of the series contains contributed chapters that address the foundational approaches for ethics and integrity in the business world. The second volume presents practical ways to assess and enhance integrity and encourage ethical behavior in corporations, businesses, and other organizations. All companies—regardless of size or financial clout—need to avoid the significant consequences of ethical misconduct and illegal behavior by their employees and managers, which can result in erosion of public trust, customer loyalty, investor confidence, and employee morale, not to mention debilitating fines and criminal indictments. This book identifies the key mindset and values that should guide decision making for businesspeople every day....
Author by : Gael McDonald
Languange Used : en
Release Date : 2014-10-29
Publisher by : Cambridge University Press
Description : Business Ethics will equip students with the strategies necessary to analyse and improve the broad scope of business ethics today....