The DII set an early benchmark for ethics administration in corporations. The membership grew quickly (the ECOA now has over 1,100 members) and was quickly established as an independent organization. Some theorists have adapted social contract concept to business, whereby corporations become quasi-democratic associations, and workers and other stakeholders are given voice over an organization’s operations. Professors Thomas Donaldson and Thomas Dunfee proposed a model of contract principle for business, which they call integrative social contracts theory. Critics say the proponents of contract theories miss a central point, namely, that a business is someone’s property and not a mini-state or a means of distributing social justice.
A related trend is the introduction of danger assessment officers that monitor how shareholders’ investments could be affected by the company’s selections. Ethics officers (typically referred to as “compliance” or “business conduct officers”) have been appointed formally by organizations for the reason that mid-Eighties. … Read More