Ethics in Business – sources and importance

Business ethics is a new fad.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!

order now

* Business ethics – religion vs.. Management.

* Business ethics is obvious – “do good!

* Business ethics is good guys preaching to bad guys.

Sources of business ethics. Understanding the origin or sources of business ethics helps the managers and employees to learn on different ways of dealing with problems. It also helps on to have a wide perspective of situations hence an appropriate decision making.

Religion: A strong belief in a supernatural power or powers that control human destiny. This has helped in developing/origination of virtues such as Justice, temperance, purity and courage. Adaptation of such beliefs helps in improving personal relationships. Laws: A set of rules and regulation that govern a given state. Issues to do with correct standards and weights, payment of taxes etc. These are always written in the constitution of the country

* Philosophy: A belief (or yester of beliefs) accepted as authoritative by some group or school. Help sharpen the existing values and beliefs.

* Culture: The attitudes and behavior that are characteristic of a particular social group or organization. It is past from generations to generation and reinforces the act of colonization amongst others.

Importance of business ethics. Business ethics are the core pillars of an organization and for that reason have a lot of benefits when practiced in a suitable and accepted way.

* Improves society.

* Maintains a moral course in turbulent times.

* Cultivates employee teamwork, productivity, morale and development. Ethics are name Tort ten malfeasance AT sun Loveliest In an organization. Salary Ana wages are the critical issues that are addressed by law and emphasized by philosophers as the ones that affect employee’s morale. It’s therefore the duty of managers to act according to the facts concerning the remuneration of employees.

* Acts as an insurance policy as it is always available and easily adopted. That is we can always refer to it when faced with a difficult situation that requires quick solution. Establishes values for quality management, strategic planning and diversity management. Managers understand the various ways to deal with the employees in solving problems and rewarding as ethics will always provide a guideline on what to be done.

Management is concerned with distribution of work and allocation of resources and therefore managers will rely upon available ethical tools and knowledge of doing this hence achieving the desired goals.

* Promotes strong public image.

* It is the RIGHT thing to do! Factors that affect business ethics.

* Leadership-it refers to the behaviors and attitude of organizations’ leaders to influence others. Leaders have to deal with potential conflict, interests, assignment of contracts and resources. With these employees deeds will go hand in hand with the codes of conducts of the organization as set by the leaders.

* Organizational system and culture-includes the business environment at large both internal and external factors. A positive culture and organization system raise as the employee’s behavior hence increase in productivity and happiness. On the contrast negative cultures and organization system lowers the Job morale.

* Local economy – employees are seen to be viewing the Job and the state of the economy. A booming economy with plentiful Jobs leads to happiness in employees work life hence becomes responsible.

* Individual’s behavior and moral values-one with wisdom is capable of making wise steps regarding the situations one is in. This helps to avoid ethical lapse and dilemmas.

* Competition in industry – competition within and outside the organization leads to improvement of one’s ethical views of issues so as to achieve the set goals.