Ethics, Responsibility and Governance

Course Description

The course examines the concepts of business ethics, corporate responsibility and corporate governance in a constantly changing socio-economic and institutional environment. The aim is to equip students with the theoretical foundations and practical tools required to understand and implement responsible and ethically sustainable practices in the private, public and non-profit sectors. This is particularly important given that in modern times, society gives businesses a license to operate and increasingly requires businesses to demonstrate ethical and responsible behavior. Employees expect fair treatment and consumers respect for their rights. Similarly, other stakeholders are pushing for transparency and accountability. To a certain extent, businesses have understood these new conditions, have incorporated corresponding practices into their operations and have redefined the way they make decisions. However, ethical dilemmas arise daily, as businesses try to harmonize their profitability with the social and ethical aspects of their operation. Ethical dilemmas are also raised by modern technological developments since the development and use of new technologies such as artificial intelligence, the use of big data, etc. raise questions regarding the human-machine relationship but also the responsibilities that the individual and the business are called upon to assume in the face of new data. Consequently, the relationship between Business, Ethics, Responsibility and Governance is worth discussing both in society and in the narrower environment of the university.

The course incorporates:

1. basic philosophical currents of ethical thought (deontology, utilitarianism, justice, aretaic ethics),
2. contemporary approaches to corporate social responsibility (CSR),
3. environmental, social and intergovernmental criteria (ESG),
4. as well as principles of corporate governance.

Learning Outcomes

Upon completion of the course, students will be able to:

1. Understanding the role of ethics in business. Recognizing ethical issues within businesses
2. Applying important concepts and theories (e.g. utilitarianism, deontology, etc.) regarding ethical values to solve business issues
3. Understanding the benefits that arise from ethical business behavior and the connection with the concepts of competitiveness and sustainability
4. Evaluating individual behaviors within the business context using theoretical models
5. Understanding the concept and importance of social responsibility and the requirements for its integration into business strategy
6. Understanding the concept and importance of Corporate Governance. Familiarity with the frameworks and regulations governing Corporate Governance
7. Gaining a comprehensive understanding of contemporary issues related to management, responsibility and corporate governance
8. Understanding of contemporary ethical dilemmas raised by the development of new technologies (artificial intelligence and ethics, big data and ethics, etc.)