Ethics And Business Ethics: The Importance Of Ethics In Business

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The importance of ethics and business sustainability All activities in an organisation are interdependent on each other or are influential to one another. The main reason for these links is the organisations success. One of these links is ethics and business sustainability. Ethics James Fieser is a professor at the University of Tennessee at Martin he states that ethics is sometimes known as ethical theory, philosophical ethics, moral philosophy and moral theory. Ethics are moral principles that govern a person’s behaviour. Ethics in a business context defines what happens in an organisation, including aspects such as: the actions of individuals in the organisation and the ethical behaviour of the organisation as a whole. The choice to act ethically is a moral one; employees must decide what they think is the right course of action. This could include declining the route that would lead to the biggest short-term profit. Business sustainability The broad term serves as an umbrella for other phrases such as corporate social responsibility or corporate citizenship. Business sustainability is often defined as managing the triple bottom line (social responsibility). It is an enterprise that has minimal negative impact on the global or local environment, community, society, or economy. A sustainable business is an organization that participates in environmentally friendly or green activities to ensure that all processes, products, and manufacturing activities address environmental concerns while maintaining a profit. In other words, it is a business that “meets the needs of the present world without compromising the ability of the future generations to meet their own needs.”(United nations general assembly, 1987)(Anderson, 2006). It ... ... middle of paper ... ...e importance of leadership is to get things done by people; management must supply leadership in the organisation. Teamwork is essential for recognising organisational goals. Leadership aids authority. Authority alone cannot generate a favourable attitude for improved performance. If management fails to provide leadership, informal leadership will develop which will eventually regulate the behaviour of the employees and may come into conflict with managerial leadership. A leaderless organization is like an army without a general. Work forces need the leadership of skilled and experienced individuals to provide guidance and a single direction for all employees to follow. Leaders are invaluable when it comes to formulating and communicating new strategic directions, as well as communicating with and motivating employees to increase dedication to organizational goals.
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