12 Ethical Principles For Business Managers

Ethics, ethical values, and social responsibility should all work in unison in a corporate business structure. These key traits are better defined as maintaining overall good business morals, obtaining employees who possess personal ethical values, and finally to behave ethically and with sensitivity toward social, cultural, economic and environmental issues. For a business to better ensure these quality business traits a code of ethics should be adopted by the business. In the cases of Bernie Madoff and Enron, the most well-known financial scandals in history, I feel, gave a major hand in pushing business all across America to have and enforce the code of ethics.

The author Robert Solomon argues that ethics has to an integral part with regard to business management. He does not believe that business management must include unethical or illegal methods to be able to succeed. Solomon preaches that business management is not as simple as obtaining revenue. “Businesses need to abide by fair policies and their owners have to be ethical in dealing with their customers” (Shaw p. 37). The author acknowledges that while illegal practices in business management could bring positive results at first, eventually the business is bound to fail. This is why Solomon recommended eight important policies that can help businesses in integrating ethics into their operations.

Ethical principles are principles that are in accordance with the rules or standards for right

Every business develops a set of ethical principles that they abide by. The business ethical principles intentions: it construct the business certainty in the community , maintain the employees liveried in what the business attempt to have as structural conducts and aid the employees consume principles to make ethical choices that guards the business. In a culture with a diverse assessment structure and augmented judgment visibly by companies with changeable ethics and interests, there appears to be further difficulties on business individuals to make tougher ethical assessments. In our day-to-day performances, we depend on on our ethical principles to monitor us in the correct path and do the correct things. The substance of any efficacious and perpetual business is they segment a mutual ethical matter concentrating on presenting and generating value along with allocating their business values with the citizens they network with on a day-to-day basis.

Ethics is the division of philosophy that focuses on morality, which defines behavior as right and wrong. Ethical principles represent standard guidelines for behavior. Ethics aids a person in the justification of a course of action. Society defines what moral values and behaviors are held and legislated (DeNisco & Barker, 2016). Ethical principles include the concepts of autonomy, freedom, beneficence, fidelity. Autonomy entails a person’s desire to direct themselves. Freedom is the person’s right to do as they please. But this right is contingent on members of a society agreeing, whether explicitly or not, to abide by behaviors that do not deceive or force others, behaviors that lead to peaceful interpersonal relationships. Beneficence is the person’s motivation to do good. Fidelity is a person’s faithfulness to safeguarding his or her values (Husted & Husted, 2015). Doornbos, Groenhout and Hotz (2005) describe three levels of

To have ethical practice in businesses it needs to begin with “whether our behavior is moral or immoral and deals with fundamental human relationships”. (Lawrence & Weber, 2014, p. 69). The foundation of ethical behavior has to be laid early in life and developed/built on it; this guidance can come from various sources such as, religion, family, school, neighborhoods, friends, etc. “The totality of these learning experiences creates in each person a concept of ethics, morality, and socially acceptable behavior.”

This will be an over view of ethics as it relates to business in our society. Concepts from Philosophy will seek to describe the correlation between actions that are classified as morally right or ethical in our dealings with each other as human beings. Clear and concise examples will be given as well as ways in which to improve upon business ethics.

Ethics are values and principles that individuals use to govern his decisions and activities. Ethics are about moral judgment of an individual about right and wrong. In an organization, code of ethics refers to set of guiding principles and organizations use these principles in their policies, programs, and decisions for business. Within organizations, decisions are taken by groups or individuals and these decisions are influenced by the culture of the company. Decision making and relevance of ethics may also differ for nonprofit and for profit organizations. In contemporary business environment, organizations must have a clear ethical policy and implement it in proper manner. There are many social, legal and economic outcomes that company has to face in case of any ethical dilemma, so there must be a smart strategy to deal with ethical dilemmas. In this paper, we will address the ethics for nonprofit and profits organizations, ethical dilemmas being faced or faced by each of these companies and the outcomes of these ethical dilemmas. Critique of actions of each of these companies will be provided from the point of view of applicable philosophical theories of organizational ethics.

Ethical standards in business are important for every leader to know and understand. The book Ethics 101: What Every Leader Needs to Know by: John C. Maxwell discusses ethics in the world today. When people make unethical choices, the reason they do because of three main pitfalls. People do what is most convenient to them, people tend to do what they must do to win, and people rationalize their choices with relativism. In this summary, Maxwell’s definition of business ethics will be framed, examples of ethical standards and guidelines, the meaning and contrast of ethical thinking and ethical behavior, and how to avoid these major pitfalls to live an ethical life. The

Ethics are moral principles that can be used to help guide peoples decisions. We are all different and therefore our beliefs and opinions differ. There are many ethical theories, and according to Panza and Potthast (n.d.) the following are some that are widely used. Virtue ethics is one theory which states that personality is the most important thing. Living an ethical life, acting right, requires that one develops and demonstrates the quality of courage, compassion, wisdom, and temperance. It also requires that greed, jealousy, and selfishness is avoided. Utilitarianism states that the amount of happiness and suffering created by a person’s actions is what matters the most. As a result, acting rightly includes maximizing the amount of

Within philosophy, ethics is the division that focuses on morality, which defines behavior as right and wrong. Ethical principles represent standard guidelines for behavior, while also justifying a person’s given course of action. Society defines what moral values and behaviors are held and legislated (DeNisco & Barker, 2016). Further, ethical principles include the concepts of autonomy, freedom, beneficence, fidelity. Autonomy entails a person’s desire to direct themselves, while freedom is the person’s right to do as they please. However, this right is contingent on members of a society agreeing, whether explicitly or not, to abide by behaviors that do not deceive or force others–behaviors that lead to peaceful interpersonal relationships. Beneficence is the person’s motivation to do good, and fidelity is the individual’s

Global business standards codex captures eight major underlying principles in which ethical behavior can be interpreted and evaluated. The eight ethical principles are fiduciary, property, reliability, transparency, dignity. fairness, citizenship and responsiveness.

Today’s business world presents numerous ethical issues. In today’s world above board/moral ethics in organizations do not often materialize intuitively. Organization must strive to provide employees with a clear understanding of the overall company vision. This will aid employees in practicing the code of ethics, policies and procedures in the workplace. Companies must be unwavering in continuously delivering the uppermost ethics of provision in which customers, applicants and employees are entitled to under fair business practices. One major core value is to uphold responsible and fair business practices.

Organizations who want to be successful must commit to finding leaders who are willing to exemplify ethical behaviors and promoting virtue in their particular organizations. For example, successes in large corporate companies like Mattel have anecdotal history of having firm values and principles in the beginning, which provided strength, direction, and discipline. In order to have an organization with a strong moral culture, we must have virtuous leaders that are willing to promote ethical decisions based on principle solely from policy. Ethical distinction within the corporate framework is imperative not only to employees but as well to the customers. In fact, the more a company can provide a reputation for exhibiting ethical decisions, the stronger the organization’s ethical culture becomes. Likewise, an ethical theory of organizing in the sense of morality is needed because the relationship between organizations and society is a kind of trustee relation (Simon 1995).

In their personal and professional lives, people can and, unfortunately, sometimes do go against their moral and ethical standards. Ethical standards are what it means to be a good person, the social rules that govern our behavior. Ethics in business is essentially the study of what constitutes the right and wrong or the good or bad behavior in the workplace environment. A business is an organization whose objective is to provide goods or services for profit. The organization has a group of people that work together to achieve a common purpose. The moral challenges that these men and women face each day along with a whole range of problems that could occur, are why ethics plays such an important