also did not come into being at once. They emerged from individual ethical
standards and corporate consciousness. Moreover, the public demand for
prosecution of any violations of corporate, professional and business ethics has
been increased. Finally, mass media made possible for society reveal secrets
that were kept from public before. So, the business conduct regulations were
created to "draft guidelines for ethical conduct, develop a process for
monitoring business practices and recommend ways to correct questionable
activities." (J.Byrne) All these measures were taken to balance various social
responsibilities with the high degree of moral and sense of attainment.
Unfortunately, cooperation of unethical behavior of a manager with a
journalist may lead to an undesirable results. "Early in December 1995 , Smart
Money's editor-at-large James J. Cramer wrote an article for his monthly column;
Unconventional Wisdom, __________________________________________________________
______________ Alhemoud, Ali "Management Ethics is Smart Business."
Recommending four $2 to $6 "oprahn" stocks. Trading records show that at the
at the peak, Cramer's firm had paper profits of more than $2 million on the
stocks. The gain occurred because he had adopted at least three of the "oprhan"
sometimes before writing the article. Cramers article said that he was buying
one of the stock but did not disclose that"(F.Lalli). Clearly, neither the
management nor the editors had in any way cared of conducting the ethical
behavior and as the result the innocent investors were hurt.
On the other hand, being ethical can be clever marketing strategy.
Increasingly, consumers are swayed by "non-commercial" factors, such as whether
the product harms the environment . "Firms such as Ben & Jerry's, an ice cream
maker and Body Shop international, a cosmetics retailer, have enforced their
brands by publicizing their ethical standards...Calmins Engine , a maker of
diesel engines , made the product greener while lobbing for stricter pollution
laws. Dp Pont, a leading producer of ozone damaging CFCs, became an early member
of anti-CFCs lobby partly because it knew it was well ahead of its rivals in
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