The Limits and Prospects of Business Ethics

Business ethics has made important strides over the past decades, but it has also suffered significant failures as witnessed by the long line of business scandals in the past half century. This paper discusses different forms that business ethics has taken in relation to the goal of businesses acting ethically. In the end, it maintains that a major challenge current business ethics faces is the lack of an account of business organizations as they ethically develop and change both individually and systemically within social and political conditions. Even if business ethicists can rationally defend what businesses should be doing, unless we can relate this to how businesses can come to operate in those ways, our normative arguments will lack power, persuasiveness, and effectiveness. Only if we are able to provide this analysis will our normative ethics fulfill the practical task it has taken upon itself.