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The importance of ethics within a business
The benefit of teaching ethics
Challenges of applying business ethics
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Recommended: The importance of ethics within a business
What legislative act prompted many U.S. companies to develop internal ethical policies and procedures?
The Sarbanes-Oxley Act created new standards for the accountability of businesses and corporations and it includes penalties for acts of misconduct. The Act stipulates new financial reporting obligations, including the adherence to internal controls and procedures which are to certify the validity of their financial records. These accounting controls put into place were meant to reduce unethical/ illegal actions within an organization (Mathis & Jackson, 2011, p. 16).
What are key concepts related to business ethics that should be considered in the development of the ethics training program?
Describe the elements you will incorporate into your ethical training program (at least five).
There are several concepts which should be taken into consideration when an organization is creating an ethics training program. An ethics program will associate the behavior of employees with the primary ethical standards desired by organizational leaders. Customarily, there are surprising disparities between the ideal values of an organization and the values that are essentially displayed by employee conduct (Complete Guide to Ethics Management: An Ethics Toolkit for Managers, n.d.). The continued awareness and communication in regards to moral principles in the workplace will foster openness and integrity which are essential elements in the workplace and building teams. When employees have a vigorous coalition concerning their moral principles and the principles of the business, an individual will have the tendency to respond with potent motivation and performance.
Elements included in an ethics program include the following:
A Written Code ...
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... the compliance program. Additionally, the HR director must be sure to include in the program information concerning the above elements as well as complying with federal, state, and local legal requirements concerning discrimination, treatment errors, unionization, and other issues. The HR director must stay abreast of any changes in the laws (Mathis & Jackson, 2011, pp. 3,4). Additional responsibilities include insuring the policies are rewritten as needed, literature, and mandatory training is signed off by each employee from the top down.
Works Cited
Complete Guide to Ethics Management: An Ethics Toolkit for Managers. (n.d.). Retrieved January 17, 2014, from Free Management Guide: http://managementhelp.org/businessethics/ethics-guide.htm
Mathis, R., & Jackson, H. (2011). Human Resource Management (13 ed.). Mason, OH: South-Western, Cengage Learning.
Noe, R. A., Hollenbeck, J. R., Gerhart, B., & Wright, P. M. (2014). Fundamentals of human resource management (5th ed.). New York, NY: McGraw-Hill Education.
Ethics or rather morals entail mechanisms that defend, systematize as well as recommend conceptions of right or wrong. Many organizations develop ethical codes to ensure employees and employers understand the difference in doing good or bad. In that respect, ethics are an essential aspect of successfully running of any organization or government. Ethics ensure employee’s productivity levels are up to the required standards. It also assists them to know their rights and responsibilities. Additionally, employers, as well as any persons in management, are guided by them to ensure they provide transparent leadership. Ethics also defines how customers should be handled. Ethical codes govern the relationship between customers and an
Trevino, L., & Nelson, K. (2011). Managing business ethics - straight talk about how to
Mathis, R. L., & Jackson, J. H. (2010). Human resource management (13th ed.). Mason, OH: Thomas/South-western
Establishing and implementing a strategic approach to improving organizational ethics is based on establishing, communicating, and monitoring ethical values and legal requirements that characterize the firm's history, culture, and operating environment” (p. 129). Ethics programs ensure satisfactory relationships with all stakeholders by aligning with all of their demands and needs, and determine conduct with customers and relationships with regulators, shareholders, suppliers, and employees (Ferrell, 2004). Values are a core set of beliefs and principles, one or many. A number of factors contribute to the development of values. These include membership in a community or culture, attitudes, beliefs, and behaviors.
Ethical behavior is behavior that a person considers appropriate. A person’s moral principles are shaped from birth, and developed over time throughout the person’s life. There are many factors that can influence what a person believes is right, or what is wrong. Some factors are a person’s family, religious beliefs, culture, and experiences. In business, it is of great importance for an employee to understand how to act ethically to prevent a company from being sued, and receiving criticism from the public while bringing in profits for the company.
Noe, Raymond A., et al. Human Resource Management: Gaining a Competitive Advantage. 7th ed. New York: McGraw-Hill/Irwin, 2010. Print.
An organization needs to adhere to ethics in order to effectively implement its mission, vision, and objectives in a way in which offers a solid foundation to management and their subordinates to properly develop and implement its strategies. By doing so, the organization as a whole is essentially subscribing to one commonality that directs all of the actions of the employees of the organization. Additionally, it assists in preventing such employees from divergence in regard to the proposed strategic guideline. Ethics additionally ensures that a strategic plan is developed in accordance to the interests of the appropriate stakeholders of the organization, both internal and external (Jin & Drozdenko, 2010). Likewise, corporate governance that stems from various regulatory parties makes it necessary for organizations to maintain a high degree of ethical standards; this is done by incorporating ethics within the organization’s strategic plan so as to foster a positive corporate image for the stakeholders and general public (Min-Dong Paul, 2009).
Throughout the course of day-to-day business life, the business professionals come in contact with quite a sum of ethical dilemmas. There are various ways to handle these ethical dilemmas, but failure to follow the appropriate manner could result in an unethical outcome. The ethical guides related to the book definitely help students develop an ethical character that is sure to stand out for highly ethical companies. In addition, there are companies that test how ethical applicants are before hiring them, this in turn makes getting the job more difficult and costly. However, despite the high cost and difficulty said companies stay firm to ethics, guaranteeing they get top-of-the-line employees who will act in an ethical manner. Ethics is defined
Jennings, M. (2009). Business ethics: Case studies and selected readings (6th ed.). Mason, OH: South-
Weiss, J. (2006). Business Ethics: A Stakeholder & Issues Management Approach. Mason, Ohio: Cengage Learning, South-Western.
Foot M , Hook C (2008). Introducing Human Resource Management. 5th ed. Essex: Pearson Education Limited. 11-14,35-56,90-98.
Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2011). Business ethics: Ethical decision making and cases: 2011 custom edition (8th ed.). Mason, OH: South-Western Cengage Learning.
Ethics is the responsibility of each individual person, but starts with the CEO and the Board of Directors, setting the right tone at the top and moves down through the organization, including setting the tone in the middle. A company’s culture and ethic standards start at the top, not from the bottom. Employees will almost always behave in the manner that they think management expects them, and it is foolish for management to pretend otherwise (Scudder). One of the CEO’s most important jobs is to create, foster, and communicate the culture of the organization. Wrongdoings or improper behavior rarely occurs in a void, leaders typically know when someone is compromising the company
Ethical behaviour is what all career people should aim to have. Not just the ethical attribute but exceptional behaviour with this regard.this is because in order to build a career, one must be governed by the rules of ethics to safeguard oneself and others. Ethics are essential in the workplace because a tough ethical code provides a non-threatening environment with high employee morale. The corporate social responsibility is important to everyone,therefore it should not be neglected by the employees and the organization. Ethics purely center on personal conduct. It involves personal choices that can make or break a person in the workplace or business. The major importance of having good conduct is to maintain a high level of respect not just for people but for the proffession. Most people who begin their working career have aspirations of excelling at their jobs and reaching the pinnacle of their profession while maintaining a sense of values; however employees often become blind with ambition and put aside their sense of ethics in order to obtain financial security and recognition for their efforts. There are many things that one can gain from having good behavioural ethics in the workplace. It will develop a discipline which will propel the work practices to a higher level and will help set a high standard. It will promote teamwork among the workersand will also buil...