Preprint Article Version 1 This version is not peer-reviewed

Towards Sustainable Ethical Culture in Family Owned Businesses

Version 1 : Received: 26 March 2019 / Approved: 29 March 2019 / Online: 29 March 2019 (12:09:05 CET)

How to cite: Khan, M.R. Towards Sustainable Ethical Culture in Family Owned Businesses. Preprints 2019, 2019030281 (doi: 10.20944/preprints201903.0281.v1). Khan, M.R. Towards Sustainable Ethical Culture in Family Owned Businesses. Preprints 2019, 2019030281 (doi: 10.20944/preprints201903.0281.v1).

Abstract

Building an ethical culture is challenging and a basic requirement of the companies to embed transparency in their systems, creating a positive image; serving the internal and external communities. This paper based on detailed interviews of 12 family owned businesses over a period of 16 months explores how these companies build the ethical culture, identifying the ethical culture sustainability triggers, challenges and role of religion in such practices. The values, culture, community and social norms are identified as major ingredients of a sustainable ethical culture development and implementation of the ethical policies and procedures require institutional and structural mechanisms for effectiveness in family owned businesses. The findings at numerous occasions are in contrast to the literature, whereas, in other instances are similar. The religion, society, family image, the entrepreneurs themselves and their family members play a vital role. Non-interference in private matters of the employees, whistle blowing, code of ethics, training and awareness creation and a number of other factors play a leading role in ethical culture development in family businesses.  

Subject Areas

Ethics, Ethical Culture and Sustainability, Family Business

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