INTEGRATION OF ETHICAL DISCOURSE IN ECONOMIC THEORY

Moral doctrines and ethical patterns have a strong historical character, the society taking upon itself certain behaviour values and criteria, depending on the stage of development, on its productive features. The business pattern anchored exclusively in the competition for productivity, profit and market went along with arguments having nothing in common with the principles of ethics, such as „there are no moral responsibilities in business”. The alteration of the economic paradigms through the inclusion of the social and cultu - ral dimensions in terms of theories such as social responsibilities, interest holders, systemic, the interaction with the local community and the peremptory pre-eminence of environment protection, as well as the approach of the enterprise as an organism having a mission, a philosophy and a culture of itself, led to the reconsideration of business ethics. Behaviour in the relation with the interest holders includes the resolution of certain ethical lemmas circumscribed by the characterology of the said relations. The social welfare correlated with the quality of the environment constitutes the referential system regarding the approach of business ethics providing for the congruence of moral values and criteria, generally, with the ethical behaviour in the business domain and normatively extends the phenomenology of the relations business- nature, business –society in a coherent and unitary demarche. Managerial ethics refers to a set of ma - naging standards, principles, juridical regulations, moral conduct criteria. Taking regard to ethics by a leader must constitute a continuous process, based on ethical theories.