Abstract Sixteen 2000

GLOBAL

DEVELOPMENT STUDIES

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Volume Two Winter 1999-Spring 2000 Numbers 1-2.

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THEME: CARIBBEAN DEVELOPMENT STRATEGIES: ISSUES AND OPTIONS

SHOULD FIRMS BE PROFIT-DRIVEN OR ETHICALLY-DRIVEN?

Surendra Arjoon

Department of Management Studies

The University of the West Indies

St. Augustine, Trinidad

The West Indies

Published Online: December 15, 2016

ABSTRACT

Almost everyday we are subjected to crises which should not only be understood in an economic, social, political and technical context, but above all, they must be read in an ethical dimension. This article illustrates why the crises and failure of society on so many issues can be corrected by means of ethics. Specifically, this article argues why firms should be ethically-driven as opposed to profit-driven, based on a virtue-ethics framework. Notions of the common good, code of ethics, and cooperative game theoretic models are used to develop this framework.