Questions About Business Ethics and Sociological Imagination


  1. Is sociological imagination a good thing?

One thing one does not always think about is his place in society and his society in a historical context. On one hand, this gives the individual a large-scale view of his life and the possibility of reevaluates one’s values and worries. On the other hand, if someone has a problem and has sociological imagination, it is possible that he will find that the reasons are far beyond his control and more of a historical-society problem.  This thinking could lead to an understand that the solution is much more complicated.

 

  1. Were the activities that generated the financial crisis in 2008 unethical?

Although the activities that generated the crisis were not illegal, they were all products of the lack of ethics. As the book Managing Business Ethics by Linda K. Treviño and Katherine A. Nelson says, they “were contrary to a number of ethical principles such as responsibility, transparency, and fairness”. I believe there was indeed a lack of ethics. Since authorities and financial institutions could have a better understand of the scenario, and let the situation get out of control, it is clear that there was a lack of ethics related to the crisis.

 

  1. Being ethical is good financially?  

According to the study “Does Business Ethics Pay?” by The Institute of Business Ethics (IBE) companies with ethics perform better financially for reasons such as stable price/earning ratios, being more admired, they are also rated higher than those without codes on their ability to reduce non-financial risks.  

http://www.cib.iofc.org/node/25151

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One thought on “Questions About Business Ethics and Sociological Imagination

  1. 1) And if one realizes that one’s troubles are the result of historical forces? Is that good? You don’t necessarily answer your own question.

    2) Can you explain how a poor grasp of the financial system by banks or regulating authorities are related to poor ethics or ethical lapses?

    3) If being ethical “pays,” and markets reward those choices that lead to better financial performance, why do ethical lapses persist? If every firm starts using computers because it helps performance, we don’t see many firms not use computers. Why would ethical performance be different?

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