Ethics impacts all business relationships, be it with employees, vendors, contractors, competitors, or customers. Those who display ethical behavior are trusted by others. Employees will follow an ethical leader because they trust that he will do the right thing, and they will respect him. Employees will feel secure in knowing that they will be treated and dealt with in a straightforward, honest, and fair way. Employees want to be employed at an ethical company, therefore, they will stay with such a company and there will be a lower turnover rate. I believe that employees are more willing to make personal sacrifices for their employer and will be more committed to an ethical employer.
Trust is also an important factor in the relationships with those outside of the company. When you treat those in other organizations in an ethical manner they will be willing to work collaboratively with your company. Being open and honest in dealing with those in other organizations will give your company a reputation of integrity, and those outside of the company will want to work with you.
Similarly, customers want to do business with an ethical company. Customer loyalty comes with ethical business practices. Dealing with customers in an ethical manner will foster a good and long-term relationship with them. Without good customer relationships, a company will struggle just to survive.
Leadership Impact on Ethical Practices
The leadership style impacts the ethical practices of an organization because people take their clues from the leaders. Ethical leaders cause others to think ethically as well, bringing others with them to their level of thinking. Those with an ethical leadership style will display ethical a...
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...know that they can take you at your word and you are going to be upfront with them. Being a person of high integrity is what earns the trust of others. It is when faced with a moral dilemma that is when a person’s integrity really shows; so when there is pressure or temptation to make an unethical decision that is the time when you have to display the courage to do what is right and taking accountability for that decision. I believe that a commitment to being as fair as possible and treating all people equally leads to a competitive advantage for companies. As an ethical leader, I would want to put the needs of others and the organization ahead of my own desires and be a leader that others in the organization would want to emulate. There is more to being a leader than the businesses bottom line, while that is important, it should never come at the expense of others.
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