Business Ethics and Cost Management in SMEs

Abstract

This chapter illustrates aspects of business ethics and cost management applicable to small and medium-sized entities. The main objectives of this chapter are to identify and clarify ethical issues and business ethics theories applicable to small and medium-sized entities as well as to identify the functions and principles underpinning the cost management of small and medium-sized entities. Based on the literature, the authors also identify the factors that generate the ethical behavior, the organizational culture, the factors that influence the cost management of small and medium entities. There are also highlights of sustainable development and corporate social responsibility through which small and medium-sized entities align with the expectations and requirements of customers, the population and investors. Through the authors' contribution, a new conceptual and empirical framework is created to discuss other issues encountered in the business environment of small and medium-sized entities.