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Business Management
Programme Title
Business Ethics and Responsible Management
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Report
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Table of Contents
Part 1 A:...................................................................................................................................1
1. Introduction....................................................................................................................1
2. Ethical issues................................................................................................................1
3. The role of business in society......................................................................................2
4. Stakeholders.................................................................................................................3
5. Good and bad examples...............................................................................................4
6. Recommendations........................................................................................................5
References 1A:........................................................................................................................6
Part 1B.....................................................................................................................................8
1. Introduction:...................................................................................................................8
2. Theory of rights and justice...........................................................................................8
3. Utilitarian theory............................................................................................................9
References I B:......................................................................................................................10
Part 2......................................................................................................................................11
References 2:.........................................................................................................................15

List of Figures:
Figure 1: Gender Pay Gap by sector, 2018 v. 2019 (Financial Times, 2019)............................1
Figure 2: Median hourly pay gap by sector, based on data reported by 27th March 2019
(BBC, 2019).........................................................................................................................................4
Figure 3: Pay gap analysis (median and quartile range of mean and median pay gaps in
banking compared to all UK companies) (Pwc, 2019)...................................................................4
Figure 4: Contrasting analysis of unethical business conduct....................................................12
Figure 5: Formal and informal pressures for ethical behaviour (Fisher et al, 2013)...............13

List of Tables:
Gender pay gap report An
Table 1: Forms of leadership style (Walker & Miller, 2010).......................................................11

An
Listethical view
of Abbreviations:
EML: Ethical Management Leadership
CSR: Corporate Social Responsibility
Part 1 A:
1. Introduction
This report has been compiled for the HSBC Board and aims to ethically
address gender pay gap, highlight the main issues and make recommendations
using ethics theories and comparisons with other organisations.
Gender pay gap reporting aims to change the way organisations respond to
gender pay inequality and to encourage them to narrow the gap in the following
years, helps organisations value their impact on societal issues and it is an important
topic to many stakeholders (CIPD, 2018; CIPD, 2019).
2. Ethical issues
HSBC’s gender pay gap report shows concerning differences in men and
women’s earnings and has got the company the reputation of the “UK’s most
unequal bank” (The Guardian, 2019), with the highest gap in 2017 (59%) which
increased to 61% in 2018 (Reuters, 2019).

Figure 1: Gender Pay Gap by sector, 2018 v. 2019 (Financial Times, 2019)

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 HSBC’s gender pay gap raises ethical questions around discrimination, equal
opportunities for both genders to progress within the company and equal pay
practices:
i. Inclusion: fewer women (7% according to The UK Government, 2019)
than men are in leadership positions;
ii. Discrimination on progression within the company, as 81% of staff
are female hired in the lower and lower middle quarter, and only 30% in
the upper middle and top quarters (ibid.).
iii. Reward: men and women receive different performance bonus scores.
Women’s mean bonus pay was almost 70% lower than men’s in 2018,
94% of the women and 95% of men received bonuses (ibid.)
iv. Risk of losing workforce, as Auto Data Processing’s survey showed
that two thirds of UK employees would consider looking for another job
if their current employer had an unfair gender pay gap practice (The
Guardian, 2019)
3. The role of business in society
Businesses are becoming more socially responsible. Their role is more than
just making profits for its owners, but it’s also about giving back to the community.
They provide goods and services to their customers, but also contribute to local
communities through economic infrastructures via the payments to their suppliers,
employees, shareholders, local taxes, whilst they can also contribute to solving
social outcomes (supporting NGO’s, education, local government, environmental
activists etc) and have become accountable for more than their economic impact
(Franz and Petersen, 2012; Fryer, 2014).
The issue of gender pay gap may impact contribute to homelessness and to
financial struggles for women entering retirement (The Guardian, 2019). It may also
discourage women wanting to work for HSBC and/or in financial services, building on
old stereotypes that men still own and rule the world of business and women can’t
occupy leading positions.
HSBC it hasn’t made good progress on reducing the gap since first reported,
violating the common concept of good CSR practices not thoroughly implemented,
demonstrating a poor governance role and unfair treatment of its employees,
potentially discriminating women in achieving top paid positions. Friedman (1970;
cited in Crane and Matten, 2016) states that CSR policies taken on out of self-
interest reasons, are purely profit maximization wrapped in socially-responsible
policies.

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 4. Stakeholders
Stakeholders are individuals or groups who can either benefit from the
organisation or be harmed by it (Crane and Matten, 2010).
HSBC’s stakeholders affected by the issue of the gender pay gap are:
i. Employees – Lower wages can put women, especially single
mothers, at the risk of poverty and also affect their pension
contribution. If women perceive that the organisation’s pay practices
are more favourable to men, they may feel unfairly treated and
unmotivated at their jobs, which affects performance (Jehn and
Bezrukova, 2010).
ii. Potential investors are likely to refrain from investing in HSBC and
existing ones may wish to withdraw, as they don’t want their names
associated with unethical pay practices. McKinsey (2015) study
showed that in the UK, gender diversity at senior management levels
improved organisations’ performance, with EBIT increased by 3.5%
for every 10% increase in gender diversity, and that companies in the
top quartile for gender diversity are 15% more likely to generate
returns higher than the national industry medians.
iii. Government expects HSBC to publish their report every year,
accompanied by a narrative explaining the context of the company,
and then it releases a guide of practical measures to help
organisations address the gap issue (CIPD, 2018). If HBCS fails to
submit the report, the Equality and Human Rights Commission can
make an investigation and take enforcement actions against them
(CIPD, 2019).
iv. Customers – As consumers are more focused on business’s ethical
behaviour, gender pay gap may attract negative publicity and loss in
revenue (BDO, 2018). If HSBC takes tangible steps to address it,
should become more attractive for its customers (CIPD, 2018).
v. Jobseekers – Pay equity impacts companies’ ability to attract, retain
and engage employees, with surveys showing that many applicants
check the companies’ gender pay gap before deciding to work for
them (Personnel Today, 2019). In long term, if HSBC’s talent pool will
reduce because people will not be interested in sending their
applications because of their reputation and HSBC’s performance
may also suffer.

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 5. Good and bad examples
According to Financial Times (2019), “the average company in the financial
sector paid women 81.9p for every pound that men earned in 2018. That was an
improvement on the 81.6p women received in 2017”. However, the financial sector
reported the worst gender pay gaps in the market (Figure 2).

Figure 2: Median hourly

pay gap by sector,
based on data reported
by 27th March 2019
(BBC, 2019)

Barclays reported a 43% gap across its national branches, saying they will
address this “historic imbalance” (The Guardian, 2019).
Positive progress in financial industry was achieved by Virgin Money: mean
gender pay gaps decreased from 36% in 2016 to 29.7% in 2018, aiming for 50:50
gender balance by 2020.

Figure 3: Pay gap analysis (median and quartile range of mean and
median pay gaps in banking compared to all UK companies) (Pwc, 2019)

Airline industry witnessed high gender pay gaps too.

Ryanair reported the highest gap for 2018: 67% lower on
mean hourly pay, with only 3% women employed in the top
quarter of earners (The Guardian, 2018). Only 8 out of the 554 pilots at Ryanair are
women and the company has stated that the number of women applying for pilot
jobs has increased in recent years and they are committed to narrow the gap
(Reuters, 2018).

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 Positive progress in addressing gender pay gap was made by Greggs, who
had a median pay gap of 7.63% in 2018, down from 11.71% in 2017, with no
significant pay gap in their three low quartiles, but the top quartile, having a ratio on
50:50 of men to women, saw a gap of almost 14% (Personnel Today, 2019).
6. Recommendations
Based on the issues highlighted above and on the published research related
to the topic, the following recommendations are made, in accordance to the
Government’s guidelines:
i. Career planning and leadership development programmes such as
targeted mentoring, coaching and training for female employees.
ii. Transparency to promotion, pay and reward processes (policies and
criteria), so that managers can objectively assess employees and
employees are clear how. HSBC could not ask job applicants for salary
history, more women should be shortlisted for promotions and more
family-friendly benefits to be added (Cotton, 2019; cited by BBC, 2019)
iii. Appoint diversity managers to monitor diversity in talent management
(recruitment and promotion) to reduce the risk of biased decision taken by
mangers, because they would know they can be assessed and held
accountable.
iv. Measures to encourage work-life balance and female talent retaining.
HSBC should prioritize fostering and promoting a healthy work
environment, providing transparent and fair wages and benefit packages
available, to attract and retain workforce.
v. Inclusion of competent, highly skilled female workforce at strategic
decision-making levels;
vi. Put in place an effective and open communication system at all levels of
the organisation.

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References 1A:
BBC (2019) Gender pay gap: Can it be fixed? Available at:
https://www.bbc.co.uk/news/business-47785669 (Accessed: 03 November 2019)
BDO (2018) Article: How could Gender Pay Reporting affect your business? Avaible
at: https://www.bdo.co.uk/en-gb/insights/audit-and-assurance/governance-risk-
compliance/how-could-gender-pay-reporting-affect-your-business (Accessed: 03
November 2019)
CIPD (2018) Gender pay gap reporting: an introduction Available at:
https://www.cipd.co.uk/knowledge/fundamentals/relations/gender-pay-gap-reporting/
factsheet (Accessed: 23 October 2019)
CIPD (2019) Not just a number: lessons from the first year of gender pay gap
reporting Available at:
https://www.cipd.co.uk/knowledge/fundamentals/relations/gender-pay-gap-reporting/
lessons-report (Accessed: 23 October 2019)
Financial Times (2019) UK banks among companies with largest gender pay gaps.
Available at: https://www.ft.com/content/487de270-57b3-11e9-91f9-b6515a54c5b1
(Accessed: 05 April 2019)
Fryer, M. (2014) Ethics Theory & Business Practice. Los Angeles: SAGE
HSBC (2019) UK Gender Pay Gap Report Available at: https://www.hsbc.com/our-
approach/esg-information (Accessed at: 28 November 2019)
Jehn, K.A. and Bezrukova, K. (2010), “The fault line activation process and the
effects of activated faultlines on coalition formation, conflict, and group outcomes”,
Organizational Behavior and Human Decision Processes, Vol. 112 No. 1, pp. 24-42.
McKinsey (2015) Why diversity matters. Available at:
https://www.mckinsey.com/business-functions/organization/our-insights/why-
diversity-matters (Accessed: 03 November 2019)
Personnel Today (2019a) Gender pay gap reporting: How to get it right for 2019.
Available at: https://www.personneltoday.com/hr/gender-pay-gap-reporting-how-to-
get-it-right-for-2019/ (Accessed 03 November 2019)
Personel Today (2019b) The gender pay gap may be narrowing, but why? Available
at: https://www.personneltoday.com/hr/gender-pay-gap-may-be-narrowing-but-why/
(Accessed: 03 November 2019)
PWC (2019) Gender Pay Gap Reporting. Available at:
https://www.pwc.co.uk/services/human-resource-services/gender-pay/spotlight-on-
banking.html (Accessed: 25 October 2019)
Reuters (2018) Ryanair's 67 percent UK gender pay gap widest among airlines.
Available at: https://uk.reuters.com/article/us-ryanair-pay-gender/ryanairs-67-
percent-uk-gender-pay-gap-widest-among-airlines-idUKKCN1HA1LY (Accessed: 06
November 2019)

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Reuters (2019) HSBC criticized as UK gender pay gap widens. Available at:
https://uk.reuters.com/article/us-britain-banks-pay/hsbc-criticized-as-uk-gender-pay-
gap-widens-idUKKCN1P422R (Accessed: 02 November 2019)
Robinson, S., Smith, J., Franz, R. and Petersen, H. (2012), "Role of business: a
portfolio model of corporate social responsibility", Journal of Global Responsibility,
Vol. 3 No. 1, pp. 83-110. https://doi.org/10.1108/20412561211219300
The Guardian (2018) Ryanair reveals worst gender pay gap in airline industry.
Available at: https://www.theguardian.com/business/2018/apr/03/ryanair-reveals-
worst-gender-pay-gap-airline-industry (Accessed: 06 November 2019)
The Guardian (2019) UK's most unequal bank: HSBC's gender pay gap grows to
61%. Available at: https://www.theguardian.com/business/2019/jan/08/uks-most-
unequal-bank-hsbcs-gender-pay-gap-grows-to-61##targetText=The%20bank
%20released%20an%20update,from%2029%25%20to%2030%25. (Accessed: 02
November 2018)
The Guardian (2019) Gender pay gap: discrimination found to be most significant
contributor to inequality. Available at:
https://www.theguardian.com/world/2019/aug/22/gender-pay-gap-discrimination-
found-to-be-most-significant-contributor-to-inequality (Accessed: 03 November 2019)
The Guardian (2019) Gender pay gap: What did we learn last year? Available
at:https://www.theguardian.com/world/ng-interactive/2019/apr/05/gender-pay-gap-
what-did-we-learn-this-year (Accessed: 03 November 2019)
The Guardian (2019) Gender pay gap figures show eight in 10 UK firms pay men
more than women. Available at:
https://www.theguardian.com/world/2019/apr/04/gender-pay-gap-figures-show-eight-
in-10-uk-firms-pay-men-more-than-women (Accessed: 03 November 2019)
The UK Government (2019) HSBC Bank PLC Gender pay gap report. Available at:
https://gender-pay-gap.service.gov.uk/Employer/AFV2D97I/2019 (Accessed 02
November 2019)

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Part 1B
1. Introduction:
This section analyses ethical theories that apply to HSBC’s gender pay gap in
order to recommend actions to help resolve it.
2. Theory of rights and justice
Locke’s theory of rights advanced from the very basic rights to life, freedom
and property to concepts such as consent, privacy, fair treatment, fair legal process
etc (Crane and Matten, 2016). Natural rights are basic entitlements that must be
respected and assured to everyone, no matter their race, religion, nationality, sexual
orientation etc (ibid.).
Rawls’s theory of justice presents a normative approach in deciding on how
a society should look like – “the original position” – a reference point for social,
political and economic systems (Fisher et al., 2013). Justice is the concurrent fair
treatment in which everybody in a certain situation get what they deserve and can
assess how equally and fairly rights are performed (Crane and Matten, 2016).
Beauchamp and Bowie (1997; cited in Crane and Matten, 2016) have further
developed this theory to outline two main sides of fairness:
- Fair procedures (procedural justice): is everyone free to get rewards for
their efforts?
- Fair outcomes (distributive justice): are the consequences distributed
justly, based on needs or merits?
The jobseekers’ rights are HSBC’s duty to respect, protect and facilitate,
through fair and transparent, un-biased recruitment and selection processes. The
theory of rights and justice states that an action that violates someone’s rights is
unethical, irrespective of its impact on the greater good (Alder and Gilbert, 2006).
Therefore, HSBC’s hiring practices must be assessed not in relation to an overall
pattern, but based on the effect of that decision on individual applicants’ rights.
Looking at the distribution of male and female employees in all quartiles, it can be
assumed that recruitment and selection managers may be biased and involuntarily
discriminate women during the process.
Ideally, justice would include both fair procedures and fair outcomes, but it
may not always be achievable. In the case of HSBC, in order to reduce the gender
pay gap, there is the risk of reverse discrimination, where women may be favourited
against men in the case of promotions or recruitment and selection for higher paid
roles, therefore an unfair procedure may be applied against men that may have
better skills and experience and would be a better fit than their female competitors.
In business contexts, the rights of the organisation’s customers, employees,
job applications are the responsibility of the said organisation (Fryer, 2014).
Therefore, treating jobseekers fairly requires that managers perform recruitment in
such manner that any applicant with the same skills, knowledge, experience,
ambition or talent have equal chances for competitive success, setting the scene for
meritocracy. To ensure fairness and transparency to jobseekers, HSBC recruiters
must be trained to become aware of unintentional biases that may affect their

8
decisions. As studies show that interviewers rate candidates that they perceive to be
similar to them, it is important to ensure an equal gender representativity within those
carrying out the assessments to avoid biased decision in favour of men that may
have similar skills and experience as women, scoring similar levels in practice
assessments.
3. Utilitarian theory
Utilitarianism, a consequentialist theory developed by Bentham and Mill,
rests on the principle that an action is morally right if it produces the greatest amount
of good upon the greatest amount of people (Crane and Matten, 2016). Bentham
(1982; cited in Fisher et al., 2013) emphasised that one must measure
characteristics such as: intensity, duration, certainty, extend, closeness, richness
and purity, when considering utilitarian principles in a decision.
From the utilitarian perspective, the issue of gender pay gap is not morally
right, as it has negative consequences on the majority of HSBC’s employees (53%
women) (HSBC, 2019). Therefore, the greater amount of good (higher pay rates)
apply to a minority of people: men employees, representing 47% of HSBC UK staff
(ibid.).
One of the strengths of utilitarianism theory is that it can be used in assessing
specific business circumstances and it’s not concerned with short-term results, but it
requires a longer-term assessment of the outcomes of an action, which is consistent
with good business practices (Frederick, 1999). It can be considered a democratic
principle, as it supports decision making in the best interest of the majority of people.
However, utilitarianism has some limitations It’s subjective to the person who carries
out the assessment of pleasures and pains (Dion, 2012). Additionally, it may not
always be the case that one can quantify the costs and benefits of each situation and
finally, it may be discriminating minorities, if only the greater good for the greatest
numbers of people is taken into consideration when deciding to act in a certain way
(Crane and Matten, 2016). There also situations when it’s difficult of accurately
forecast the consequences of an action, as psychological evidence shows
overconfidence in people who make predictions (Fischoff et al., 1977).
Using utilitarian principles to find a solution to reduce the gender pay gap at
HSBC will require an assessment of the consequences of any action considered to
address the issue may have on the business and its stakeholders. The final goal is
to bring the pay levels between genders to a balance and utilitarian principles aim to
ensure that resources are distributed to the people who would most benefit from
them (Stein, 2006), in this case the resource being financial and the main
beneficiaries being HSBC’s female employees.
Developing career planning and leadership programmes targeted on women
staff, applying transparent policies in promotion and reward processes for all
employees, adopt work-life balance arrangements are actions that will result in the
“greatest good”, to include: encouraging women with family commitments to compete
for promotions that they wouldn’t consider while working in a strict office hours
environment, training on leadership will benefit women to step up the top quartile,
reduce the risk of biased promotion decision against single mothers that may be

9
perceived as not fully dedicated. If applied, these utilitarian measures will in time
reduce the gender pay gap that HSBC is currently trying to overcome.

References I B:
Alder, G.S. & Gilbert, J. J (2006) Achieving Ethics and Fairness in Hiring: Going
Beyond the Law Bus Ethics. Journal of Business Ethics. 68(4) 449-464. Available at:
https://doi.org/10.1007/s10551-006-9039-z (Accessed: 20 November 2019)
Crane and Matten (2016) Business ethics: managing corporate citizenship and
sustainability in the age of globalization. Oxford: Oxford University Press
Dion, M. (2012), "Are ethical theories relevant for ethical leadership?", Leadership &
Organization Development Journal, Vol. 33 No. 1, pp. 4-24
https://doi.org/10.1108/01437731211193098
Fischoff, B., Slovic, P. and Lichtenstein, S. (1977) ‘Knowing with certainty: the
appropriateness of extreme confidence’, Journal of Experimental Psychology, 3 (4),
552–64.
Fisher, C., Lovell, A., Valero-Silva, N. (2013) Business ethics and values (4th ed.)
Harlow: Pearson
Frederick, R. (1999) Companion to Business Ethics. Oxford: Blackwell Publishers
Fryer, M. (2014) Ethics Theory & Business Practice. Los Angeles: SAGE
HSBC (2019) UK Gender Pay Gap Report Available at: https://www.hsbc.com/our-
approach/esg-information (Accessed at: 28 November 2019)
Stein, M.S. (2006) Distributive Justice and Disability: Utilitarianism against
Egalitarianism. New Haven: Yale University

10
Part 2
This section of the report is a reflection on ethical leadership management
(ELM).
Large organisations appoint ethical and/or compliance managers to be
responsible for ethical leadership, who oversee social responsibility codes, ethics
education, ensure the organisation is compliant with codes and standards (Fisher et
al, 2013). In small companies, ethics falls usually under the MD’s duties.
Leadership is the process of influencing others’ activities through goal setting
and achievement (Boddy, 2017). The main leadership styles are showed below:

Table 1: Forms
of leadership
style (Walker &
Miller, 2010)

Trait leadership theory outlines what personal characteristics (level of

intelligence and skills, and personality factors) contribute to effective leadership
(Jones and George, 2014). Trevino et al. (2003; cited in Brown and Trevino, 2006)
found that the ethical leader’s main traits are: honesty, trustworthiness, fairness,
principled decision-making, care for the society and ethical behaviour in both
professional and personal lives.
Ethical leadership shows and encourages a standardised behaviour in
actions, communication, collaborations and decision-making processes (Brown et al,
2005). The two approaches of managing for an ethical culture – culture change and
cultural learning – unfold two ethical leadership methods. The culture change
leader’s role is to articulate the values and standards the organisation aspires to and
then inspire and motivate employees to follow their lead (Crane and Matten, 2016).
Ethical leadership stands on two elements (Trevino et al, 2000; cited in Crane and
Matten, 2016): moral person (who shows individual traits such as honesty and
integrity) and moral manager (who shows concerns for the organisation’s ethics and
values and develops principles that guide employees’ actions). From the cultural
learning perspective, leaders are more preoccupied with fostering employees’
autonomy and free moral agents (ibid.).
Toor and Ofori (2009) found that ethical leadership in a positive organisational
culture stimulates leader effectiveness, employee satisfaction and tendency to put in
extra effort, seconding the idea that a supportive organisational culture cultivates
sound ethical leadership (Figure 4). In an opposite scenario, when the organisation’s

11
top management tolerate an unethical culture, ethical leaders may not be able to turn
it around: i.e. Douglas Durand, VP of Tap Pharmaceutical, tried to get the sales
representatives to stop bribing doctors and other unethical behaviours, by appealing
to their ethics, putting in place reward systems, which, without the support of senior
management, haven’t been successful, forcing Durand to report these practices and
leave the company in the end (Kidwell and Martin, 2006). Figure 4 displays a brief
analysis of why unethical business happens and how to avoid it (Fryer, 2015):

Figure 4: Contrasting analysis of unethical business conduct

12
 Ethical practice is demanded by external entities (Government, society,
activists), as well as from within the organisation itself and ethical managers ensure
the business complies with the law and with other (not legally binding) commitments,
such as codes of ethics (Fisher et al, 2013).
Integrity, one of the most important traits of an ethical leader, plays an
important role in ensuring that ethical conduct is in place and followed in
organisations. The concept is based on sound judgement and seeking consistency
to moral principles and values in thought and action (Fisher et al, 2013; Crane and
Matten, 2016), To ensure ethical management, businesses must apply the
compliance approach, which foresees, prevents, identifies and punishes violations
of the law (Crane and Matten, 2016).

Figure 5: Formal and informal pressures for ethical behaviour (Fisher et al, 2013)

A strict code of ethics that all employees must comply with won’t contradict
the conscience of a member of the organisation that is characterised by integrity and
therefore has no issue in following the rules and guidelines of what the company’s
ethical behaviour and act in accordance to these. However, if the individual has low
ethical traits levels, he/she might struggle to accept and act in accordance to the
ethical behavioural expectations.
In my previous employment in the financial sector, I witnessed unethical
recruitment, selection and pay practices in one of the company’s newly established
departments. The managers hired for similar roles: an analyst of African origins and
a white female professional with whom they had worked previously. Even if the male
analyst was hired six months before the female analyst joined, his salary was 30%
lower than hers, although their experience and academic achievements were
comparable. In this instance, I recognised unethical behaviour from the two
managers in recruiting for the second analyst job vacancy: they have favourited

13
someone they knew already, without advertising the role, discriminating other
jobseekers who had the right of being aware of the opportunity in order to send in
their applications. Such practice, which violates someone else’s rights, is not
consider ethical under the theory of rights and justice. Under the same theory, I
believe that the male analyst was discriminated, even unintentionally, by biased
managers. He had been with the company longer than the new female hire, had
similar skills as hers, but his salary for a similar analyst job was 30% lower than hers,
breaking ethics values and discriminating based on race and different cultural
background.
In conclusion, ELM is an evolving practice that must be delivered by ethical
leaders with traits such as integrity and honesty, to name a few, but who are also
willing to develop new skills and knowledge. However, as seen in the case of
Durand, ethical leadership must be supported at the senior management level
through codes of ethics and CSR policies, to help the leader influence and motivate
employees towards an ethical conduit. Although illegal, not just unethical, favouritism
recruitment may still occur in organisations nowadays and HR must be involved in
recruitment and selection stages to ensure an ethic process, and in reward decision
making, to ensure fair pay levels, based on jobs’ required skills and performance.

14
References 2:
Aronson, E. (2001), Integrating Leadership Styles and Ethical Perspectives.
Canadian Journal of Administrative Sciences / Revue Canadienne des Sciences de
l'Administration, 18: 244-256. doi:10.1111/j.1936-4490.2001.tb00260.
Boddy, D. (2017) Management: An Introduction (7th Ed). Harlow: Pearson Education
Brown, M.E., Treviño, L.K. and Harrison, D.A. (2005), “Ethical leadership: a social
learning perspective for construct development and testing”, Organizational Behavior
and Human Decision Processes, Vol. 97 No. 2, pp. 117-34.
Brown, M. E. and Treviño, L.K. (2006) ‘Ethical leadership: A review and future
directions’ The Leadership Quarterly, Vol 17, Issue 6, pp. 595-616.
https://doi.org/10.1016/j.leaqua.2006.10.004.
Crane and Matten (2016) Business ethics: managing corporate citizenship and
sustainability in the age of globalization. Oxford: Oxford University Press
Fisher, C., Lovell, A., Valero-Silva, N. (2013) Business ethics and values (4th ed.)
Harlow: Pearson
Fryer, M. (2014) Ethics Theory & Business Practice. Los Angeles: SAGE
Jones, G. & George, J. (2014) Contemporary Management (9th Ed.) New York:
McGraw Hill
Kidwell, R. and Martin, C. L. (2005) Managing Organizational Deviance. Thousand
Oaks: Sage Publications
Toor, S-ur-R. & Ofori, G. (2009) Ethical Leadership: Examining the Relationships
with Full Range Leadership Model, Employee Outcomes, and Organizational
Culture. Journal of Business Ethics. 90. 533-547. 10.1007/s10551-009-0059-3
Walker, J. R. & Miller J. E, (2010) Supervision in the Hospitality Industry: Leading
Human Resources. (6th ed.) New Jersey: John Wiley & Sons Inc.

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