Exploring Enterprise Life Cycle: Differences in Informal and Formal Institutional Measures of Business Ethics Implementation

Since science recognizes the fact that an enterprise passes through different life cycle stages, and that life cycle stages differ in terms of management systems, formal structures, control systems, documentation of transactions, and number of procedural hurdles, our main research problem was focused on differences in informal and formal institutional measures of business ethics implementation. The case study research methodology was applied to explore the differences of informal and formal institutional measures of business ethics implementation at different stages of enterprise life cycle. The pre-designed questionnaire was used in conducting face-to-face interviews with 40 managers who were in most cases also owners of the studied enterprises.