A Study of Factors Affecting Attitudes towards Business Ethics in Saint Lucia

Abstract

Business is essential for the development and wellbeing of society. However, the frequency with which corporate scandals occur serves as a driving force behind an ongoing debate about the conduct of businesses. This study therefore analyzed the effects of gender, age, household income, status and religiosity on attitudes toward business ethics and also, the effect of these factors on the business philosophies as contained in the attitudes towards business ethics questionnaire (ATBEQ). A quantitative approach research method was in the form of a questionnaire.

The sample groups for this study were business students and employees in the private sector. The data was analyzed separately for both sample groups. The results showed that for students, gender had a significant impact on ethical attitudes, and for employees, household income and interpersonal religiosity. The results also showed that males were less ethical than females, and employees were more ethical than students. Social Darwinism was the most popular business philosophy as it was subscribed to by both sample groups and all factors except age had a significant impact on at least one business philosophy. Age was the only factor with no significant impact on attitudes towards business ethics or on the business philosophies.

This study provides information on the ethical attitudes that currently exist in the business environment and also will provide insight into future business ethical attitudes. The results also provide useful information for policy makers, managers and academia and may shed some light for both Corporate Human Resource Strategy and the formal education system. It will also add to the existing literature on business ethics and more specifically to literature on ethics in the Caribbean region.

Business is essential for the development and wellbeing of society. However, the frequency with which corporate scandals occur serves as a driving force behind an ongoing debate about the conduct of businesses. This study therefore analyzed the effects of gender, age, household income, status and religiosity on attitudes toward business ethics and also, the effect of these factors on the business philosophies as contained in the attitudes towards business ethics questionnaire (ATBEQ). A quantitative approach research method was in the form of a questionnaire.

The sample groups for this study were business students and employees in the private sector. The data was analyzed separately for both sample groups. The results showed that for students, gender had a significant impact on ethical attitudes, and for employees, household income and interpersonal religiosity. The results also showed that males were less ethical than females, and employees were more ethical than students. Social Darwinism was the most popular business philosophy as it was subscribed to by both sample groups and all factors except age had a significant impact on at least one business philosophy. Age was the only factor with no significant impact on attitudes towards business ethics or on the business philosophies.

This study provides information on the ethical attitudes that currently exist in the business environment and also will provide insight into future business ethical attitudes. The results also provide useful information for policy makers, managers and academia and may shed some light for both Corporate Human Resource Strategy and the formal education system. It will also add to the existing literature on business ethics and more specifically to literature on ethics in the Caribbean region.