Ethics in Management and Institutionalization of Ethics

Abstract

Throughout world economies, place and role of government and public sector have weakened over time, and on the other hand, efficiency, function, and responsibility of the business world and private sector have increased on the global market system. In addition, changing and developing socio-cultural structure has increased social sensitivity stakeholders' consciousness and importance given to ethic values due to increasing social necessities. Ethics turned out to be one of the most important management subjects for entities and governors in the business world. Ethical performance and ethical quality of enterprises are also important for social responsibility towards all stakeholders, enterprises' ethical values, reputation of the enterprise, increasing brand value of goods produced or service provided, providing trust and support of investors, customers, and the public. In this context, ethics, managerial ethics, institutionalization of ethics, and importance of ethical principles in enterprises in terms of corporate managerial principles are evaluated in this chapter.