Synonyms
Ethical; Ethics; Management; Managing; Risk
Definition
TBA
Introduction
This article argues that ethical risk is one of several risks that need to be accommodated. It is further argued that ethical risks are just as potent in consequences as are other risks, such as financial and reputational. Managing ethical risk is, essentially, about following a code and of not being corrupt: for that reason corruption figures prominently in such discussions. In particular there is a concern that an organizational code of ethics or a company code of conduct may be at odds with a professional code (medicine or engineering, say). In such cases it is argued that the professional code is prime. Presumably a person is employed as an engineer or a medical practitioner and thus their subscription to appropriate professional standards is paramount. Any ethical charge therefore needs to express a particular breach in terms of at least one section of the professional code, rather than the...
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Ferrell OC, Fraedrich J, Ferrell L (2014) Business ethics: ethical decision making and cases. Cengage, Stamford
Francis RD, Murfey G (2015) Global business ethics. Kogan Page, London
Neef D (2005) Managing corporate risk through better knowledge management. Learn Organ 12(2):112–124
O’Fallon MJ, Butterfield KD (2005) A review of the empirical ethical decision-making literature: 1996–2003. J Bus Ethics 59(4):375–413
Power M (2008) Organized uncertainty: designing a world of risk management. OUP, Oxford
Stead WE, Worrell DL, Stead JG (1990) An integrative model for understanding and managing ethical behavior in business organizations. J Bus Ethics 9:233–242
Whistleblower’s guide. http://www.huffingtonpost.com/adam-resnick/a-10-step-guide-to-whistl_b_4810485.html?ir=Australia
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2022 Springer Nature Switzerland AG
About this entry
Cite this entry
Francis, R.D. (2022). Ethical Risk Management. In: Farazmand, A. (eds) Global Encyclopedia of Public Administration, Public Policy, and Governance. Springer, Cham. https://doi.org/10.1007/978-3-030-66252-3_2385
Download citation
DOI: https://doi.org/10.1007/978-3-030-66252-3_2385
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-66251-6
Online ISBN: 978-3-030-66252-3
eBook Packages: Economics and FinanceReference Module Humanities and Social SciencesReference Module Business, Economics and Social Sciences