Values And Values In Business

In an ever changing business environment it is essential to understand the concepts of Ethics and Values and how they can be important factors that need to be co-operated and practiced within a business organization. Below is a discussion on how values and ethical behaviour can be in cooperated in business objectives and goals.

According to the English Oxford Dictionary Ethics is defined as moral principles that govern a person’s behaviour or the conductor of an activity. It is also knowing what is right and wrong and taking the correct measures or steps to rectify any wrongdoings. The Business Dictionary.Com further explains this concept as, fundamental principles of decent human conduct. It includes the study of universal values such as the essential equality of all men and women. Values, in the Oxford Dictionary, is regarded as something that is held to deserve the importance, worth or usefulness of something. They are the principles or standards of behaviour of ones judgement of what is conceived as important in life.

In the business world values co-relate with an organisations vision. Values are usually “the-behind-the-scene” guidelines to direct the business activities and how they should be operated. They ensure that the public is aware of what the organisation stands for and what they perceive as important principles for their business. Traits such as integrity, professionalism, honesty, respect and commitment are some of the values that can be observed. J.Landauer and J.Rowland reckon that values are essential to ethics. It is known that ethics are concerned with human actions and the choice of those actions. Therefore et...

... middle of paper ...

...er base. It’s a retailer that gets involved with the community and supports local farmers and other enterprises rather than only importing their products. They have mastered the skill of being able to retain their customers and also obtain more clientele at the same time.

 An organisation that practices ethical behaviour all the time is able to make well-informed and correct decisions that are good enough for the organisation. This behaviour ensures that the decisions made are accounted for and are transparent for concerned parties, such as the shareholders and potential investors. C.McNamara states that “an organisation that conducts and praises ethical behaviour is able to withstand turbulent times,” this is because the manner in which they conduct their day to day activities and al the policies and procedures are lawful and accepted in the corporate environment.