The Importance of Ethical Management Essays

Ethics is the guiding force in any respectable organization. With a moral compass, especially in the leadership of organization, a company can become compromised and fall into a quagmire of legal issues, a tarnished reputation, and devaluation of company stock if it is a publically traded company. In pursuit of examine my own ethical lens I will analyze the ethical traits of an admired leader, my own traits as exhibited in the Ethical Lens Inventory, and how I make a decision concerning a particular ethical dilemma.

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.

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.

Ethical leadership is vital for the success of any business; this case study illustrates that the lack of moral values and a healthy ethically incline corporate culture, can lead to scrupulous behavior from the CEO all the way down the company. Scrushy had a demanding and cunning personality, and it was easy for his to influence others in his business to go along with the fraud. Also, having Stanwick and Stanwick, (2013) an active board of directors does have a positive impact on the performance of the firm. Also, good corporate governance supports the ethical requirements established by the stakeholders. A moral leader must cultivate a real ethically driven organization, which has no tolerance for unethical behavior.

This paper will obtain information about a researched issue that deals with business ethics. The paper will include a summary of the Article and issue. This paper will also touch on the following topics, what seems to be the basis of the issue, what ethical change, deficiency, or conflict brought it about, and how did the organizational leadership come into play. The paper will conclude by proposing a plan for revising the ethical standards and

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.

Ethics in any industry is important, but for Accounting professionals and those in need of their services, it is a particularly stressed element. Information provided by accountants is used to make major decisions, including investing, downsizing, expanding, etc, so accountants are expected to be competent, reliable, and have a high degree of professional integrity. Because of these high expectations, the professional accountancy industry, like many other professions, has adopted professional codes of ethics (Woelfel, 1986). These ethical codes go above and beyond the requirements for state or federal laws and regulations. There are several professional organizations within the

(Panza & Potthast, n.d.) Ethics is very important to a company’s success. Ethical behavior can bring benefits to a business. They can attract customers, which can lead to a boost in sales and profits. It can attract the right employees and increase productivity. It can also attract investors and keep the company’s share price high. Unethical behavior on the other hand can damage a company’s reputation and make it less appealing to stakeholders. It could also result in lower profits.

It is only during moral lapses and corporate scandals that interest groups and the broader public ask themselves the fundamental ethical questions, who are the managers of the organization and were they acting with the ethical guidelines. For a long time, the issue of ethics was largely ignored, with organizations focusing on profit maximization. However, this has changed, and much attention is now focused on ethics management by researchers and leaders. The issue of ethics has arisen at a time when public trust on corporate governance is low, and the legitimacy of leadership is being questioned. Leaders are expected to be the source of moral development and ethical guidance to their employees.

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.

“We have always known that heedless self-interest was bad morals; We know now that it is also bad economics”

Moral and ethical integrity is a major factor that affects the success and productivity of an organization because of its impact on the functions of management and the management team. As organizational ethics has increasingly become an issue of major focus resulting in organizations to face huge dilemma, there have been several questions on who should manage ethics and integrity in the firm (Segon, n.d.). In most cases, organizations tend to delegate the ethics function to the human resource management practitioners or department. This is primarily because organizational ethics is largely related to the type of employees within an organization. Notably, the development and establishment of organizational ethics is regarded as a complex

Every organization also has a profession responsibility to conduct business honestly and ethically. Our readings reported, “Experts estimated that U.S. companies lose about $600 billion a year from unethical and criminal behavior” Kinicki and Kreitner (2009). The organization could avoid having ethical issues by meeting the

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

Ethics is the branch of philosophy that deals with the principles correlated to human behavior concerning the rightness and wrongness of specific conduct, and to the good and bad that influences and ends those actions (Ditonary.com, 2011). In other words, ethics is the choice people effect in regards to a decision they need to achieve. Without ethics directing the choice an individual makes, moral preferences of what should or should not be done becomes irrelevant. While ethical decisions are made every day there are two different regions in which these choices are made.