Even though the academia has yet to reach a consensus on the concept of ethical management, I believe that ethical management is the management activities to set the standards for ethical decision-making and to encourage their implementation and the activities to prioritize establishment of business processes to implement the standards. Even though companies use different terms including compliant management, righteous management, human-oriented management, and ethical management, and goals, I believe that they all focus on improving their business sustainability through enhancing customers’ trust and assuming social responsibilities.
The importance of corporate ethics is growing even further, since regulations to prevent corruption, unfair trade, human rights infringement, etc. are being enhanced. Moreover, from the perspective of ESG management, consumers are expecting companies to improve environment (E), to be socially responsible (S), and to contribute to the community through ensuring soundness in their governance (G) structure. When a company places the utmost priority on ethical values under this environment, it may receive trust and support from consumers and investors. I believe this is why ethical management has become more important.