The Importance Of Ethical Leadership In The World

Introduction

The global business environment has changed in the past two decades, leading to great impacts on other aspects of the business leadership as ethics. Historically, the enterprises have been employing unethical practices since it was difficult for them to account for their actions. Currently, the improvement of technology and frequent regulation has significantly reduced unethical business practices. Different countries and regions have put in place regulations and standards that must be abided by both internal and foreign investors (Northouse 2013: 425). Also, the consumers nowadays are very informed, and they rate the producers based on their ethical standards in the society. For instance, companies that operate ethically such

In this regard, leadership has been realized as a service to the common good, unlike in the developing countries where most of the firms are still pursuing personal goals. The ethical issues that have been upheld by a successful enterprise in these developed countries include integrity, trustworthy and truth. However, in most developing countries, these values are rarely sustained, leading to many cases of mismanagement and

However, most of these enterprises tend to be adamant about adopting the changes into their processes and programs. Precisely, they associate changing ethical standards and behaviors with changing power. It should be understood that developing these ethical practices and behaviors of the developing countries can be beneficial to the society in the long run, given that they have the capacity to give room for the rebalancing of the global economy. Besides, the western business ethics are exceptionally tied to the ideal of the free market economy that are not practical in other market economies (Michaelson 2010: