Business ethics is a fragmented and well covered scientific field. This Master thesis study concerns two type of organizations, namely family businesses (FB’s) and venture capital firms (VCF’s), in relation to the ethical decision-making process, which is a relatively undiscovered field. The study is conducted in the way it sheds a light on the influences on a manager when taking decisions concerning ethical considerations. Important scholars such as Colby and Kohlberg (1987) and Rest et al. (1999) framed the field of moral development of individuals, and what makes managers unaware of their unethical decisions (Bazerman, 2008). However, a manager’s possibility to take decisions is also influenced by organizational factors and actors. The type of management and ownership structure, and the expectations these actors have with regard to profits, as well as situational factors such as business strategy, maturity of the company, human and financial resources and market position are shaping the environment and possibility for managers to pursue ethical behavior because they affect the decision-making process.The purpose of this study is to understand how managers in FB’s and VCF’s manage ethical considerations. The creating of the conceptual framework was used as a foundation to visualize how ethical behavior is constructed, while the focus laid on the influences and possibility to take decisions including ethical considerations and content. While performing this research, we have conducted eight semi-structured interviews with managers in three VCF’s and two FB’s in Sweden. The respondent companies and interviewees remain anonymous. We did that to increase the chance of honest and unbiased answers since we saw a risk to receive adjusted and image improving responses.The empirical findings show that the VCF’s do not pay attention to ethical considerations in the same extent as FB’s do. Discovered reasons were lack of time and know-how, financial and human resources, business maturity and the fact that they were to generate a high ROI to the venture capitalist. Such a relationship makes the managers focus on profit maximization and short term objectives rather than ethical considerations. The two FB’s did have an ethical code of conduct with the employees and was constructed in order to fulfill acceptance, integration and efficiency with this management tool. The ethical codes of conduct were created with the goal to steer behavior and ensure ethical commitment in certain areas of interest. The major finding is that situational factors either suffocate or give room for ethical considerations in companies when taking decisions.In particular, this research contributes to the field of business ethics and VCF’s in general, but also with regard to FB’s. The results of this thesis are constructed in the decision-making model which is different than the ethical decision-making model we constructed based on the theoretical research. However, reality did not allow us to recognize the fragmented patterns we interpreted from the theory. We therefore created a new top-down model which takes the need for a decision in companies into account, the actors and factors in the organization, the situational factors that influence the happenings in the organization and the outcome of the decision, which possibly contains ethical considerations and content. With the improved model we visualize the decision-making process while taking influences towards ethical decision-making into consideration and visualize organizational reality as we discovered it.Key words: business ethics, ethical considerations, ethical code of conduct, moral awareness, ethical decision-making, ethical behavior, family business, venture capital firm, profit maximization, shareholder preferences.

This study begins with the question: "Is there a place for a Christian ethical code of conduct in the diverse and complex business world of today?" In chapter 2 I explain the context wherein one should understand this question. If you look at the history of South Africa you will see that there was discrimination that took place over a long period of time on the basis of race, religion and gender and that makes this issue a very sensitive one. The reason why it is so sensitive is if there were to be a Christian ethical code of conduct in the workplace could it lead to discrimination again? That is not allowed to happen under the current Constitution of South Africa. But the other side is also true, if you don?t have a Christian ethical code won?t you loose the beautiful things Scripture gives us on how to treat all people equally and fairly within the workplace? This study will show that according to the Constitution of South Africa it is possible to have a Christian ethical code of conduct as long it does not exclude any employee. In chapter 3 we have a look at Scripture that gives us guidelines on how to treat all people and also people in the workplace. Here are some examples: * the way employees should be handled; * the number of working hours the employees should be working; * the remuneration of the employees – is it fair; * how the Shareholders? / Stakeholders? interests are looked after; * the manner in which the business is being managed; * the Constitutional business environment; * the international law that transcends borders where macrobusinesses do business. In chapter 4 we look at the Christian ethical perspective in the business. We look at the role of the economy and the core values to manage a business. In chapter 5 we end with an example of a workable Christian ethical code of conduct and we compare two large business codes of conduct. / Thesis (Th.M. (Ethics))--North-West University, Potchefstroom Campus, 2011.

This study begins with the question: "Is there a place for a Christian ethical code of conduct in the diverse and complex business world of today?" In chapter 2 I explain the context wherein one should understand this question. If you look at the history of South Africa you will see that there was discrimination that took place over a long period of time on the basis of race, religion and gender and that makes this issue a very sensitive one. The reason why it is so sensitive is if there were to be a Christian ethical code of conduct in the workplace could it lead to discrimination again? That is not allowed to happen under the current Constitution of South Africa. But the other side is also true, if you don?t have a Christian ethical code won?t you loose the beautiful things Scripture gives us on how to treat all people equally and fairly within the workplace? This study will show that according to the Constitution of South Africa it is possible to have a Christian ethical code of conduct as long it does not exclude any employee. In chapter 3 we have a look at Scripture that gives us guidelines on how to treat all people and also people in the workplace. Here are some examples: * the way employees should be handled; * the number of working hours the employees should be working; * the remuneration of the employees – is it fair; * how the Shareholders? / Stakeholders? interests are looked after; * the manner in which the business is being managed; * the Constitutional business environment; * the international law that transcends borders where macrobusinesses do business. In chapter 4 we look at the Christian ethical perspective in the business. We look at the role of the economy and the core values to manage a business. In chapter 5 we end with an example of a workable Christian ethical code of conduct and we compare two large business codes of conduct. / Thesis (Th.M. (Ethics))--North-West University, Potchefstroom Campus, 2011.

Die inhoud van die studie verklank 'n paging om vanuit 'n meta­ bleties-andragogiese perspektief 'n greep op die onloenbare werk­ likheid van 'n voortdurend veranderende arbeids- en bestuursmi­ lieu te verkry, deur tot die radix van die problematiek rakende die arbeids- en bestuursetiese-ageinsgebeure deur te dring. Die bevindinge waartoe gekom is, dui pertinent daarop dat ar­ beids- en bestuursetiese-begeleiding as gevolg van verskeie de­ struktiewe invloede vanuit die tegnokratiese bestel teenswoordig nie meer so vanselfsprekend en toereikend geskied nie. Inteen­ deel, die eietydse bestuurder se begeleidingsopgawe word al moei­liker en al hoe meer gekompliseerd en in baie gevalle selfs on­moontlik. Hierdie toedrag van sake gee dan oak daartoe aanleiding dat die hedendaagse bestuurder in sy handel en wandel nie meer altyd be­ treffende "etiese kwessies" 'n onderskeid kan tref tussen wat "reg" en wat "verkeerd" is nie. Sodanige gebeure hou verreikende gevolge in vir die begeleideling (ondergeskikte) se toereikende arbeids- en bestuursetiese-volwassewording, aangesien die bestuurder ten spyte van sy begeleideling se ageinsnood aan etiese-begeleiding, nie daartoe instaat is om 'n nastrewenswaar­ digevoorbeeld van arbeids- en bestuursetiese-volwassenheid te kan stel nie. Arbeids- en bestuursetiese-volwassenheid kan derhalwe slegs be reik word aan die hand van die praktykwording van die normbeeld van arbeids- en bestuursetiese-volwassenheid. In organisasieverband geskied sodanige praktykwording deur die vestiging en insti­tusionalisering van 'n etiese kultuur met 'n etiese gedragskode wat as meet- en rigsnoer dien ten opsigte van etiese en morele kwessies. Deur middel van hierdie etiese gedragskode kan die kriteria vir 'n normbeeld van arbeids- en bestuursetiese-volwassenheid dan as norme binne die etiese kultuur van 'n bepaalde organisasie gevestig word. / The contents of this study represents an attempt to obtain a metabletic-andragogical perspective-grasp on the indisputable reality of an ever-changing labour- and management-milieu by penetrating to the radix of the problematic nature, regarding the labour- and managerial-ethical-agein occurrence. The resultant findings that were arrived at pertinently indicate that labour- and managerial-ethical-guidance is obviously at present not being sufficiently achieved as a result of various de­structive influences from within the technocratic dispensation. On the contrary, the present-day manager's guidance-role has become so much more difficult and complicated and in many cases even impossible. This state of affairs also gives rise to the fact that the modern-day manager cannot always distinguish the difference between what is "right" and "wrong" regarding "ethical issues" in his daily life. Such an occurrence has particularly far-reaching implications for the protege's (subordinate's) adequate labour­ and managerial-ethical-adulthood, since the manager, in spite of his protege's agein-need for ethical-guidance, is incapable of setting an example of labour- and managerial-ethical-adulthood worthy of emulation. Labour- and managerial-ethical-adulthood could therefore only be attained by putting into practice the norm-image of labour- and managerial-ethical-adulthood. In organisational-context such implementation occurs through the establishment and institutionalisation of an ethical-culture with an ethical code of conduct as criteria for evaluating ethical and moral issues. These cri­teria for a norm-image of labour- and managerial-ethical-adult hood could be established as norms within the ethical climate of a particular organisation by means of such an ethical code of conduct / Philosophy, Practical & Systematic Theology / D.Ed. (Philosophy of Education)

Die inhoud van die studie verklank 'n paging om vanuit 'n meta­ bleties-andragogiese perspektief 'n greep op die onloenbare werk­ likheid van 'n voortdurend veranderende arbeids- en bestuursmi­ lieu te verkry, deur tot die radix van die problematiek rakende die arbeids- en bestuursetiese-ageinsgebeure deur te dring. Die bevindinge waartoe gekom is, dui pertinent daarop dat ar­ beids- en bestuursetiese-begeleiding as gevolg van verskeie de­ struktiewe invloede vanuit die tegnokratiese bestel teenswoordig nie meer so vanselfsprekend en toereikend geskied nie. Inteen­ deel, die eietydse bestuurder se begeleidingsopgawe word al moei­liker en al hoe meer gekompliseerd en in baie gevalle selfs on­moontlik. Hierdie toedrag van sake gee dan oak daartoe aanleiding dat die hedendaagse bestuurder in sy handel en wandel nie meer altyd be­ treffende "etiese kwessies" 'n onderskeid kan tref tussen wat "reg" en wat "verkeerd" is nie. Sodanige gebeure hou verreikende gevolge in vir die begeleideling (ondergeskikte) se toereikende arbeids- en bestuursetiese-volwassewording, aangesien die bestuurder ten spyte van sy begeleideling se ageinsnood aan etiese-begeleiding, nie daartoe instaat is om 'n nastrewenswaar­ digevoorbeeld van arbeids- en bestuursetiese-volwassenheid te kan stel nie. Arbeids- en bestuursetiese-volwassenheid kan derhalwe slegs be reik word aan die hand van die praktykwording van die normbeeld van arbeids- en bestuursetiese-volwassenheid. In organisasieverband geskied sodanige praktykwording deur die vestiging en insti­tusionalisering van 'n etiese kultuur met 'n etiese gedragskode wat as meet- en rigsnoer dien ten opsigte van etiese en morele kwessies. Deur middel van hierdie etiese gedragskode kan die kriteria vir 'n normbeeld van arbeids- en bestuursetiese-volwassenheid dan as norme binne die etiese kultuur van 'n bepaalde organisasie gevestig word. / The contents of this study represents an attempt to obtain a metabletic-andragogical perspective-grasp on the indisputable reality of an ever-changing labour- and management-milieu by penetrating to the radix of the problematic nature, regarding the labour- and managerial-ethical-agein occurrence. The resultant findings that were arrived at pertinently indicate that labour- and managerial-ethical-guidance is obviously at present not being sufficiently achieved as a result of various de­structive influences from within the technocratic dispensation. On the contrary, the present-day manager's guidance-role has become so much more difficult and complicated and in many cases even impossible. This state of affairs also gives rise to the fact that the modern-day manager cannot always distinguish the difference between what is "right" and "wrong" regarding "ethical issues" in his daily life. Such an occurrence has particularly far-reaching implications for the protege's (subordinate's) adequate labour­ and managerial-ethical-adulthood, since the manager, in spite of his protege's agein-need for ethical-guidance, is incapable of setting an example of labour- and managerial-ethical-adulthood worthy of emulation. Labour- and managerial-ethical-adulthood could therefore only be attained by putting into practice the norm-image of labour- and managerial-ethical-adulthood. In organisational-context such implementation occurs through the establishment and institutionalisation of an ethical-culture with an ethical code of conduct as criteria for evaluating ethical and moral issues. These cri­teria for a norm-image of labour- and managerial-ethical-adult hood could be established as norms within the ethical climate of a particular organisation by means of such an ethical code of conduct / Philosophy, Practical and Systematic Theology / D.Ed. (Philosophy of Education)