A note on ethics and strategy: do good ethics always make for good business?

Article Abstract:

Business ethics, as practiced by business institutions, is a function of the cost-benefit analysis made by the management of the business firm. Whereas long-term considerations would dictate ethical business practices, short-term considerations decide on the actual moral stance taken by a business entity. Business ethics should not be viewed as enlightened self-interest which ensures substantial returns over an extended period of time. This is borne out by the requirement for widespread legislation and regulations that restrict business behavior. A decision reached by a certain business entity is ruled by the short- and long-term considerations of the firm and the population that can be affected that the firm includes in decision-making.

Legislative Bodies, Business Ethics, Ethics, Social aspects, Economic aspects

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Cultural roots of economic performance: a research note

Article Abstract:

The cultural factors of economic performance were investigated by studying 18 and 20 countries during the periods around 1970 and the early 1980s. The results indicated that cultural values as factors of economic performance explained over 50% of the cross-national differences in economic growth. Thrift, perseverance, and hierarchical relatedness facilitated performance. The propensity toward working in cohesive groups improved economic performance, but cultural individualism did not. The internationalization of business requires organizations to consider basic national variations, such as differences in culture, during the strategic planning process.

Analysis, International aspects, Strategic planning (Business), Values, Values (Philosophy), Cross-cultural orientation, Cross cultural training

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The salience of 'culture's consequences': the effects of cultural values on top executive commitment to the status quo

Article Abstract:

Cultural values can have a significant impact on the extent to which executives are willing to adapt to change. Individualist values contribute to strong executive attachment to existing corporate policies, and there is generally a stronger commitment to strategic policies among executives from a cultural background which gives a high priority to short-term approaches. Executives from a cultural background which emphasizes uncertainty avoidance values are tending to seek to reduce uncertainty by adapting to change.

Beliefs, opinions and attitudes, Executives

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