Individual and social influence on students' attitudes towards business ethics

Abstract

Business ethics, as a content of formal higher education, occupies an important place in the curricula of business schools in courses that consider different aspects of business management, entrepreneurship, and other areas. Therefore, based on previous research results, it is essential to determine which factors influence students' attitudes and behavior in adopting the principles of business ethics and social responsibility. This paper investigates a series of individual and social influences on students' attitudes toward business ethics. Using a sample of 211 economics students from the University of Banja Luka and the University of Niš, we empirically test six dimensions that relate to the acceptance of profit maximization versus socially responsible business practices. The paper employs statistical methods of descriptive analysis, clustering, and statistical testing of mean differences using non-parametric tests (Mann-Whitney U and Wilcoxon Z). We focus on factors that improve business ethics (teaching ethics in business schools, industrial ethical codes, regulation by government, and participation of civil society and religious leaders) as used in the influential work by Arlow and Urlich (1988). In addition, we analyze claims related to student interest in social activism and intention of socially responsible behavior by choosing a socially responsible employer. The results show that groups of students, to a greater or lesser extent, are oriented toward business ethics. Students perceive the influence of government intervention and control on the development of business ethics and social responsibility in the country/society, which from a theoretical aspect, is not explainable. The research results also indicate a significant correlation between Machiavellianism as a moral orientation and the level of business ethics and social responsibility in business. After analyzing the empirical results, recommendations are given for improving educational programs and adopting the principles of business ethics and social responsibility in business. Additionally, recommendations are provided aimed at public authorities in creating public policies that would strengthen the focus of young generations on business ethics.