Introduction Nowadays, ethics and integrity has played a vital role in our daily lives especially in the workplace. Ethics is defined as being concerned with judgements involved in the moral decision, whether it is good or bad, true and fair (Velasquez 1999); whereas, integrity is defined as the honesty and having strong moral principles in reporting. The purpose of this assignment is to find out and understand how importance of ethics and integrity has played in the business and workplace. Responses and Evidences Why compliance with Ethics and Integrity? Ethics and integrity is essential and played an important role in helping the growth of the business.
Moral managers set ethical standards, communicate ethics messages, use the position of leadership to promote ethical conduct at work and use rewards and punishments to guide ethical behaviour in the organization. An ethical leader clearly led his organization on ethics and values. People knew what they could expect of him, and they knew what he expected of them from an ethics perspective. Examples of ethical leaders are Arthur Andersen, James Burke, CEO of Johnson & Johnson during the early
The pros and cons of your primary ethical principle are based on doing what is right or wrong and may influence the importance of trust and good relationships within an organization. According to Kinicki & Williams, ethics are standards of right or wrong that influence behavior; according to those behaviors ethical standards are accepted as right or wrong (Kinicki & Williams, 2012). In today’s working society, management has the tools to supply for the organization for which its values rely upon. I believe organizations should have a policy such as rules and regulations to help guide and support employees when necessary. The pros of ethical principle will help guide an organization in the right direction such as competitive advantage.
Business ethics are the moral principles that govern the way the business act. Acting ethically in a business means the distinguishing between “right” and “wrong” and choosing the right thing. Having good ethics is not the only important thing in a business, applying them is more important as it guides the business to success, but if they are not applied the business will fail for sure. Governments impose some laws and regulations in a way which directs the business to the way that it could be beneficial to the country and the society. Business ethics in any business organization is important as it needs to confirm the expectations of the stakeholders and the society.
Business ethics contributes to more benefits. Business ethics could become a standard to achieve advantages, cultivate team work of employee, productivity, moral and development, establish values for quality management, strategic planning and diversity management. Business ethics help the company to be survival of fierce competition. Business ethics have competitive advantages which involves effective building of relationships with the company’s stakeholders, which based on its integrity. Business ethics promote ethical behavior to protect business from abuse by unethical competitors.
For the sense of business according to Joseph (2013), ethics are constructed and decided by each business and underpins decision that an employee makes. When it comes to the business’ environment, a well-constructed ethics is a key for a considerate and responsible decision making in a business (Bennett, 2014). Business Ethics is very important inside the company, it will show the moral standards that a company or business have whether it is right or wrong and good or bad. Every etiquette that a business has, will reflect on what kind of company or business you are. Thus, every company or business must show the proper and right etiquettes it should have, so that the customers will have that kind of trust and a good feedback on your company.
Business Ethics Author Institution Business Ethics Business ethics can be described as an applied ethics that seeks to inculcate an awareness of responsible business conduct within the employees of a given company. Currently, business initiatives are often tainted by a severe deterioration of business values, as well as corruption and hypocritical pursuits of self-interests (Kumar, Reddy, & Ramaiah, 2014). Such an unfavorable business environment reveals the need for business ethics in order to improve workplace relationships, productivity, and customer satisfaction. Accordingly, the present investigation examines the significance of business ethics, as well as the regulation of business conduct. Additionally, the study argues that regulations alone cannot effectively promote ethical business practices.
As corporate notoriety gets to be more essential and more companies are receiving moral positions, assuming liability for sustainability is increasingly both to guarantee reputation and fulfill the requests. The advantages of assuming liability for sustainability incorporate an improved reputation which, thus, prompts more customer loyalty. The advantages can likewise be seen regarding effectiveness, with organizations utilizing less raw materials, less power and additionally reusing. Both of these have an effect on profits and confidence. 4.0 Analysis of Ethics in Steel and Wire Products Ltd. Business ethicss means doing the right thing which is making the best decision.
Businesses who promote high standards of ethics, and morals in their business scheme are more likely to succeed in the long term. Unethical businesses are more likely to generate a lot of profit in the short term but their revenue will tend to gradually decrease on the long term if their behaviour remains unchanged. Ethical business are as successful if not more successful as less ethical businesses. Businesses around us crave money so much that they forget the impact that the process through which they go through to make their goods will have on their respective communities but also on society as a whole. Ethics in the business world means acting in a fair and honest way that will promote the business without harming the
The first step for a business to be ethically and social responsible is by establishing attainable goals and social responsibility tasks for the company. The top-level management should ensure that the goals they set for the business are measureable and all the actions are leading towards the right paths (Rampton, 2017). To become a more ethical business, a company should enforce code of conduct. A company’s values, ethics, objective and responsibilities can be show through codes of conduct. It also acts as a guideline and rules for all the employees to follow while performing their respective tasks (Magloff, n.d.).