Final answer:
CEOs are being ousted for ethical violations due to increased scrutiny and awareness, and the challenge in establishing ethical practices stems from the evolving definitions of privacy and quality of life in the context of emerging technologies.
Step-by-step explanation:
CEOs are increasingly ousted for ethical violations in the 21st century due to increased scrutiny and awareness of business practices by the public and regulatory entities, not because of a lack of technological advancements, overemphasis on social responsibility, or a decline in corporate profitability. Codes of ethics, such as those provided by professional organizations like the IEEE-CS for software engineers, outline the ethical obligations of professionals to uphold standards that benefit society, protect privacy, and prevent environmental harm. These codes are part of the broader conversation on corporate responsibility and the ethical implications of emerging technologies like artificial intelligence.
Contemporary society demands that corporations consider their responsibilities not just to shareholders but also to employees, customers, and the broader community. This shift reflects changing attitudes towards corporate personhood and the moral expectations placed upon businesses in society. As an example, the influence of corporations in political elections and their stance on issues such as birth control coverage highlight the complex interplay between legal rights and moral responsibilities in business ethics.
The difficulty in establishing ethical practices in emerging technologies lies in defining outcomes like the quality of life or privacy. These concepts are continually evolving as new technological landscapes emerge, making it challenging for corporations to navigate ethical dilemmas related to strong and weak artificial intelligence, data privacy, and other aspects of technological advancement.