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Ethics and values in organization
Analyze how well the chosen company's code of ethics facilitate
Role of ethics and values in business
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1. Introduction
Most organisations recognise the importance of business ethics and values in order to sustain their business and normally they are incorporated as part of their organisation’s code of conduct. But how businesses make values and business ethics to be part of the organisational culture? What are the benefits and cost that are associated? We will look at some companies that promote business ethics and values in the organisation and how that affects them in general. It is said that organisational success is obtained from leadership roles. What are the traits of a leader and what’s the benefit of having leadership and its cost, also what are the practical application of leadership in the success of an organisation and the difference between leadership and management.
2. Definition of ethics and values in business context
According to Ken Rushton ethics are defined as the application of moral principles in making choices between right and wrong courses of action and business ethics is the application of those moral principles in making business decisions. Values can be defined as the context within which an organisation or society’s norms (the social rules that govern people’s actions towards one another) are established and justified (Nieuwenhuizen and Oosthuizen, 94). Business sustainability refers to a business approach that creates long-term shareholder value by embracing opportunities and managing risk from economic, environmental and social dimensions (Dow Jones Sustainability Indexes). Other than creating business sustainability we must constantly be aware of our market environment and consistently keep track of the macro environment factors that will affect the organisation.
3. Business ethics and values Vs Or...
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...tics of leadership
Conclusion
I personally think that if organisations want to survive and do well in all aspects they must adopt a strong ethical values and standards. Successful business organisation are always looking out for people with leadership potential and expose them to career experiences designed to develop that potential [paraphrase].In order to be good leaders you must not only do have all the characteristic or traits that a leader needs but you must also be able to create new leaders because the environment around is hanging and the organisation changes. And an organisation’s leadership must constantly be focusing on implementing all the plans that they have made in order to succeed. Without leadership organisations will be like a room full of employees who are behaving like headless chickens. The world not only needs great leadership but ethical ones.
Business ethics are a the codes of conduct and company lays out so it's employees follow a righteous moral compass that's in the same direction as the company's.
When running a business ethics plays an important role in the success of the business. “Ethics is the study of those values that relate to our moral conduct, including questions of good and evil, right and wrong, and moral responsibility” (pg. 2). Every individual will have a different set of moral codes. Moral codes are shaped by your personality, environment and religion. In this scenario and throughout this paper you will come to understand how our moral code of ethics plays a role in our daily decisions.
Moral and ethical leaders are essential for any successful business because these leaders are the essential links between the organization’s objectives and its stakeholders. Leaders are the face of any organization, and their actions reflect the values and the ethics the organization they represent. Therefore, if a leader’s action and decision is ethical, the stakeholders and other organizations will respect the leader and the organization. Recent history has shown that ethical behaviors are important in sustaining businesses; large corporations such as Enron, Chevron, and Worldcom, destroyed people’s lives through unethical business behaviors (Josephson, M., 2013). If these corporations and its executives have operated morally and ethically, they would have been able to avoid bankruptcy and escaped going to prison (The Economist, 2002). Having ethical leadership in organizations will help to eliminate the negative impact executive’s gre...
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.
(Mallor, Barnes, Bowers, & Langvardt, 2010) Business ethics is when ethical behavior is applied in a business environment, or by a business. There are many situations that can arise in which a person is experiencing an ethical dilemma. They have to choose between standing by their own personal ethical standards or complying with their companies ethical standards. In some instances, some have to choose whether to serve their own personal interests, or the interests of the company.
For a company to be successful ethically, it must go beyond the notion of simple legal compliance and adopt a values-based organizational culture. A corporate code of ethics can be a very valuable and integral part of a company’s culture but I believe that it is not strong enough to stand alone. Thought and care must go into constructing the code of ethics and the implementation of it. Companies need to infuse ethics and integrity throughout their corporate culture as well as into their definition of success. To be successfully ethical, companies must go beyond the notion of simple legal compliance and adopt a values-based organizational culture.
Therefore we can understand the link between ethical behavior and corporate social responsibility through a thorough analysis of the two concepts discussed above. A business having strong values like integrity and honesty will behave in a way that benefits not just them but the entire society and everyone who is related to the business. Successful businesses have “ethics” at the core of their heart and they consider themselves fully responsible towards their stakeholders.
Business ethics simply can be defined as the application of business values in the business practice of a company (Seawell 2010, p. 2). For a multinational company, business ethics is one of the critical aspects need to be taken into account in business decision-making processes. Failure to give attention on ethics may bring consequences on company’s reputation (Meyer & Jebe 2010, p. 159). The company is expected not only to pursue its own profits but also contributing to the environmental and social welfare of the community where it operates (Svensson & Wood 2008, p. 308).
Ethics in business is a highly important concept, as it can affect a company’s profits, salaries paid to employees and CEOs, and public opinion, among many other aspects of a business. Ethics can be enforced by company policies and guidelines, set a precedent when a company is faced with an important decision, and are also evolving thanks to new technology and situations that arise due to technology usage. Businesses have a duty to maintain their ethical responsibilities and also to help their employees enforce these responsibilities in and out of the workplace. However, ethics and the foundation for them are not always black and white. There are many different ethical theories, however Utilitarianism, Kant’s Deontological ethics, and Virtue ethics are three of the most well known theories in existence. Each theory is distinct in that it has a different quality used to determine ethicality and allows for a person to choose which system of ethics works best with both the situation and his or her personal ethical preferences.
The textbook defines business ethics as “the accepted principles of right or wrong governing the conduct of business people.” Business ethics also govern the members of a profession and the actions of an organization. Many organizations put into place an ethical strategy which is “a course of action that does not violate accepted principles.” These principles are used to guide organizations and employees to make the right decisions.
Ethics are the morals principles that we obtain through various means, such as religion, culture, etc., that people live by. Values are the way we feel about honesty, wrong-doing, etc. Ethics and values help determine the way employees and members of the business should act and how they should act to show how what the business stands for. The business has a number of ways in which it helps employees can use ethics and values to show the importance in business sustainability.
Business ethics are a set of moral rules that govern how a business operates, how people should be treated within an organization, and how business decisions are made. They are a crucial part of employment and in managing a sustainable business, mainly because of the serious consequences that can result from decisions made with a lack of regard to ethics. Even if you don’t believe that good ethics don’t contribute to profit levels, you should realize those poor ethics have a negative effect on your bottom line in the long-run. Every business in every industry has certain guidelines to which its employees must stick to, and regularly outline such aspects in employee handbooks.
“Ethics can be defined as moral principles that govern or influence a person’s behaviour and values are the context in which an organisation or society’s norms are established and justified” (buzz text book).Ethics are the guidelines helping us tell the difference between the is wrong and right. Most people are encouraged by ethics to normally do the right things. Ethics and values are based on individual beliefs and standards in society that one if from, they vary from person to person. Leadership is the authority and capability for one to lead people in an organization in order to achieve goals. They are the main role players in all the organizations and are crucial to their success. Ethics in a business means taking the precise way’
Business ethics and social responsibility are two concepts many individuals believe go along together for corporations in the business environment. Business ethics are the moral values a company uses to ensure all employees action in a standard manner when completing business functions. Social responsibility is typically a conceptual theory that governments and the general public hold, believing that businesses should not conduct themselves in a manner counter to cultural or societal norms. The connubial of these concepts happens when companies introduce a written code of ethics to demonstrate that the company only acts in its greatest interest so long as it does not damage the company’s social responsibility.
Ethics is the study of right or wrong and the morality of the choices that individuals make. That basicly means the set of morals or responsibility that a person, group, or field have. Ethics can also be classified as code of morals. In business there are ethics that portray to business. These are called business ethics, business ethics just happen to be the application of ethics, morals, into the business field. Some examples of business ethics are obeying all rules and regulations even when nobody 's looking, which is pretty self explanatory, you shouldn’t be breaking rules. Even if it is as simple as washing your hands after you use the restroom or straight up lying to your customers, they are the ones making you money so if they find out