Question

Discuss in what ways the organisation’s strategic management accounting practices might have a bearing on ethics (e.g., the ethical behaviour of managers, employees, customers, etc.) in 300 words

Answer 1

Ethics in business and management (including strategic management) deals with moral issues (beliefs, norms, values, etc.) arising from activities performed by managers and employees of the corporation.

Business ethics is a term with quite a multifaceted meaning. Most of them however, boils down to the general and the basic conclusion that economics should serve man, not vice versa. So, managers should not be guided in their actions solely by profit or personal gain.

Business ethics is both part of the prescriptive (normative) ethics establishing standards of conduct, recommending certain behaviours, as well as descriptive ethics, describing the moral attitudes and behaviours of entrepreneurs.