Spaces for Business Ethics

Domingo Sugranyes Bickel

Chapter 7 in Enron and World Finance, 2006, pp 131-139 from Palgrave Macmillan

Abstract: Abstract An analysis of the Enron story raises the question again as to whether there is room for ethics in business, given the current modus operandi of major corporations and financial markets. It would be easy to say that ethics has no place in decision-making, that the multifarious pressures on senior executives and managers turn them into machines programmed for a single purpose: to maximise profits over the year, and even over a quarter. But is this a realistic description? I don’t think so. First, while operating in the same economic and financial environment, the majority of companies do not plan or act as did Enron. Moreover, the reasons for Enron’s fall lie not in the environment but, precisely, in a profound failure in the ethical dimension, underlying a chain of erroneous decisions.

Keywords: Business Ethic; Social Responsibility; International Financial Reporting Standard; Corporate Culture; Audit Firm (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-51886-5_7

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DOI: 10.1057/9780230518865_7

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