Business Ethics Essay

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Question 1: Explain the importance of ethics and values in business sustainability.

A business without ethics would never be able to exist in the corporate world; there would be no control or any hierarchy of management the business would eventually fall apart.

Ethics can be described as the human values that describe how one should live when keeping in mind what is seen as ‘correct’ behaviour in society’s eyes.
Business ethics is described as the study of how personal values and principles are applied in a business situation.
Values can be defined as attitudes that organisations or society’s establish themselves with. There are different types of ethics, for example; descriptive normative and analytical ethics.
Descriptive ethics is …show more content…

A business must also concentrate on their employees because employees are more productive when there is a balance between personal and professional life, as a result the business will act more ethically in the corporate world. Another concern is bad publicity which has a very negative impact on the business, as a result the business must play according to the unwritten and written rules. A business should be responsible and play by the rules set out without being forced by the law or …show more content…

Leadership is needed to overlook a company and all transactions that happen underneath that specific leadership type. Without leadership yet again there will not be any control over the employees that work in the company and an organisation will not be able to operate in the corporate world.

A widely accepted definition of leadership is:
“...the art of motivating a group of people to act towards achieving a common goal. Put even more simply the leader is the inspiration and director of the action. He or she is the person in the group that possesses the combination of personality and skills that make others want to follow his or her decisions.”

Source: http://www.sbinfocanada.about.com/od/leadership.html

First we have to differentiate between leadership and management.
A manager is granted authority when appointed to a specific position.
A leader is someone that shares his vision and inspires others to carry it out.
The distinction is thus that the manager has power due to the position he holds (appointed by the organisation) while the leader has power due to his (perceived or real) expertise. It is critical that the manager should also be a

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