Values and Economy: How Companies Deal with Values

Abstract

AbstractThis contribution deals with the importance of values in business written from the practical perspective of working in the field of business ethics, and sustainability in different functions and for more than 15 years. Focusing on a practical approach, it discusses the handling of values in management and communication. It demonstrates how the concept of values originated in the economic sphere and always included the idea of ideal values insofar as they establish and regulate social relationships. The article explains why an ethical approach to corporate values, based on the normative stakeholder view, is necessary, so that values can fulfil their orientating function. Hence, corporate ethics is a suitable topic for reflection. In addition to the motivations and drivers that lead companies to deal with normative values, the contribution describes which values companies actually proclaim. While the question of an ethical assessment of motivation is not discussed in detail, the challenges companies face in their values management and communication are described. Using the example of human rights based on the value of human dignity, the contribution shows how these challenges ultimately affect the corporate context and what steps can be taken. It closes with questions at the interface between corporate ethics, values management, and legislative initiatives.