Ethics And Ethics: The Importance Of Knowledge In Business

Sir Frances Bacon, a sixteenth-century philosopher and chancellor of England is credited with coining the phrase, "knowledge is power." Knowledge is not only a means of personal development but vital to businesses throughout the world. It is the fuel for success and a key to open the door for many opportunities. In the business world, knowledge is only as good as the people who communicate it. A solid foundation within an organization is built upon an open line of communication. Imagine a coworker or supervisor within an organization is withholding valuable knowledge. What type of effect does it have at the individual and company level? These types of actions may have enormous ethical ramifications starting at the bottom. Factors such as job security, personal insecurities and micromanagement are all possible explanations for withholding job related information which contribute to a breakdown in communication.

A broad definition of ethics consists of moral principles and the philosophy of right and wrong. From this definition ethics is not a reference in which people use to live their lives by, but a way in which each person can form their own guidelines. To break the definition down even further, moral principles are dependent on the person and philosophy is defined as a belief system or theory. Ethical views are shaped by everything and everyone we come in contact with. Life experiences, religious convictions, views from a higher power, governmental law, family and friends are all contributing factors to how people view ethics.

Ethics in a business environment carries its own set of rules, principles and guidelines. As with any project you must first examine and determine the intentions of establishing company ethics. Ethical gu...

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...es can foster trust and understanding, while poor communication poses an ethical dilemma at many levels. It can create uncertainty, lack of available resources, poor overall teamwork and the spreading of misinformation. A lack of communication at any level has the potential to lead successful companies down the wrong path. By creating a solid set of ethical principles corporate management is able to share their values with employees. Tying these ethical guidelines through positive reinforcement is also a great way to educate employees and keep these corporate principles relevant. Whether your ethical approach is utilitarian or deontological, communication plays an important role in being effective and efficient. Effective leaders should strive to develop ethical values that encompass their mission and find the best way to communicate those values to their employees.