Ethics in Management

Ethics in Management

There are several problems in business ethics.  Business ethics can be defined as the behaviour that a business adheres to in its daily dealings with the world. If a company doesn’t follow business ethics and breaks the law, they can end up being fined. Unfortunately there are many companies that think the amount of money they make outweigh the fines they are given. When that is the case, they cycle is repeated because even though the company is being fined, they are making so much money otherwise that they don’t give the fines a second thought.

Reasons for managers to behave ethically

From the view of the internal customer:

Improves the atmosphere in the workplace

Motivates the employees

Good ethic behaviour of managers sets a good example to employees

Instills pride in the company

From the view of the external customer:

Improves the public image of the company

Each corporation has an image that most likely will influence the public’s opinion.

Paying close attention to business ethics is quickly rising all around the world as many companies are understanding that they need the respect of their customers in order to grow and succeed. It is becoming common for companies to be held accountable for their actions. The demand for higher standards is growing and placing huge responsibilities on corporations.

The business world has a great demand for ethical values. Good ethics should be a daily part of every business. If managers practice good ethical values, they are setting a precedent to the rest of their company. If managers set an example for their company, it will be more likely for the rest of the employees to follow in their footsteps.

Received from http://www.enterweb.org/ethics.htm

                       http://www.wisegeek.com/what-is-business-ethics.htm

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