Abstract

In this article the author attempts to show that in contemporary business ethics discourse the individual's moral value is subordinated to the value system of the organization. The foundation of the individual's moral value in business ethics depends on the foundation of the organizational network. For this reason the article discusses the stakeholder theory where power relationships play a role. The individual is seen through the lens of instrumental and technological management. Hu¬man resource management regards the individual as human capital and as an asset, thus he or she is subordinated to the goals of the company/organization. The author sees some danger in this subordination, as was the case in the Nazi totalitarian regime. Although the article makes clear that contemporary business ethics is a product of de¬mocracy, nevertheless this discipline of subordination is seen as a possible ethical panopticum. The danger of institutionalized ethics is discussed in the article; virtue ethics is introduced as a possible alternative.

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