Values and Ethics of the Business Life

As Andrew Young, the American civil-rights leader, has observed “nothing is illegal if a hundred business men decide to do it.” This observation does not only hint on the great power entrepreneurs have over society influencing processes, but also stresses the required responsibility of these decisions. What does it mean to be responsible? What are the required cornerstones for responsible decisions? How does it apply in eBusiness world? These are the questions this paper aims to answer.

The history of entrepreneurship has seen several dominating concepts, upon which the business decisions have been based. For many years mercantilist ideas prevailed, and the decisions were taken in the name of mercantile goals, namely maximization of income and minimization of costs. People, society and environment were treated merely as the factors of production or selling markets. Today the corporate world recognizes the drawbacks and huge negative impacts of this mindset. The new foundation for corporate decisions is becoming more and more human. Corporations are becoming more human-like in the way they act, respond, and build relationships, thus becoming more appealing and accepted among individuals. Similarly, the decisions also have to be based on human decision cornerstones, particularly: morality, values and ethics.…