Ethics, Values and Leadership in Business

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Question 1: Explain the importance of ethics and values in business sustainability. Question 2: How important is leadership in the success of business organizations. CONTENTS Cover Page…………………………………………………………………………………………………………..1 Contents Page…………………………………………………………………………………………….……….2 Ethical Values and Business Sustainability……………………………………………………………3 Importance Of Leadership In The Business Organisation…………………………………….6 Bibliography…………………………………………………………………………………………………………9 Ethics And Values In Business Sustainability. What are ethics? “Ethics can be defined as moral principles that govern or influence a person’s behavior” –Hornby What are values? “Values can be defined as the context within which an organisation or a society’s norms are established and justified. Values are attitudes towards things like truth, justice, honesty, loyalty, etc.” –Nieuwenhuizen C & Oosthuizen TFJ What is business sustainability? “Business sustainability is defined as managing the triple bottom line, which is the process by which companies manage their financial, social and environmental risks, obligations and opportunities” which is done through focusing on the people, planet and profit. Ethics and values are seen as one of the most important things required for a business to be successful and sustainable. This proved by the different businesses that have had immoral or unethical employees and business practices, and have now resulted in the ending of the business due to bankruptcy just like Enron. Most organisations also have organisational values, which are the values determined by the business because individual values differ. Most people’s values are determined by different components like where they grew up, their parents, ... ... middle of paper ... ...hweppes Corporate and Social Responsibility Report 2002 http://businesscasestudies.co.uk/cadbury-schweppes/ethical-business-practices/the-importance-of-ethics-in-business.html#ixzz2zpkdytWi • Tanya J. Hall, The Triple Bottom Line, 2011 http://www.ibrc.indiana.edu/ibr/2011/spring/article2.html • Robert Jon Peterson, Enron Case Study, 2011 http://www.sophia.org/tutorials/enron-case-study • Leadership, Dictionary.com, 2014 http://dictionary.reference.com/browse/leadership • ASTD Staff, The impact of good leaders versus bad leaders, 2013 http://www.astd.org/Publications/Blogs/ASTD-Blog/2013/01/The-Impact-of-Good-Versus-Bad-Leaders-on-a-Company • Amy Rees Anderson, Good Leaders Are Invaluable To A Company. Bad Leaders Will Destroy It, 2013 http://www.forbes.com/sites/amyanderson/2013/01/14/good-leaders-are-invaluable-to-a-company-bad-leaders-will-destroy-it/
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