Abstract
This chapter is an attempt to explore some, however important, aspects of the moral/ethical dilemma within the business context. This exploration is carried out in a more normative way, that is, casting more light on how business students and new investors ought to think and behave in the business environment. The main purpose of the present chapter is to contribute to the philosophical and scientific enquiry aiming at developing more successfully moral character in business students, especially in the knowledge era, taking into account globalization and building sustainable competitive advantages. More importantly, the chapter seeks to enrich the literature with some theoretical insights and practical lessons from Arab-Islamic culture and Arab business experience as a largely nonexplored culture and practice.
The chapter includes a lengthy discussion of three key questions: (1) Does contemporary business need morality and why?, (2) Does moral education fail in business and why? and (3) Is morality a universal or cultural phenomenon? In order to provide some topics, which are of considerable practical significance within the researched context, a comprehensive case, from the contemporary Arab business environment, is structured and presented, particularly for the sake of this book. In addition, several influential international bodies are introduced.