Business Ethics. Lecture_6. Business Ethics. Ethics at work. Business Ethics. Business ethics is applicable not only to the manner the business relates to a customer but also to the society at large . It is the worth of right and wrong things from business point of view .
Ethics at work
Businessethicsisapplicablenotonly to themannerthebusinessrelates to a customerbutalso to thesocietyatlarge. It istheworthofrightandwrongthingsfrombusinesspointofview.
Everystrategicdecisionhas a moralconsequence. Themainaimofbusinessethicsis to providepeoplewiththemeansfordealingwiththemoralcomplications. Ethicaldecisionsin a businesshaveimplicationssuchassatisfiedworkforce, highsales, lowregulationcost, morecustomersandhighgoodwill.
Someofethicalissuesforbusinessarerelationofemployeesandemployers, interactionbetweenorganizationandcustomers, interactionbetweenorganizationandshareholders, workenvironment, environmentalissues, bribes, employeesrightsprotection, productsafetyetc.
8. Presentfactualinformation. Maintainaccurateandtruebusinessrecords.
9. Treateveryone (employees, partnersandcustomers) withrespectandintegrity.
10. Themissionandvisionofthecompanyshouldbeveryclear to it.
11. Donotgetengagedinbusinessrelationshipsthatlead to conflictsofinterest. Discourageblackmarketing, corruption
13. Encouragefreeandopencompetition. Donotruincompetitors’ imagebyfraudulentpractices.
16. Donotacceptchildlabour, forcedlabouroranyotherhumanrightabuses.
Managing ethics in the workplace holds tremendous benefit for leaders and managers, benefits both moral and practical. This is particularly true today when it is critical to understand and manage highly diverse values in the workplace.
BE has become to be considered a Management discipline, especially since the birth of the social responsibility movement in the 1960s
Codes of ethics
Codes of conduct
The roles of ethicists and ethics committees
Policies and procedures to resolve ethical dilemmas
Ethics training, etc.
Attention to business ethics has substantially improved the society
help maintain a moral course in turbulent times
cultivate strong team work and productivity
Support employee growing and meaning
4. help ensure that policies are legal
5. help manage values associated with quality management, strategic planning and diversity management
6. promote a strong public image
Recognise that managing ethics is a process
The bottom line of an ethics programme is accomplishing preferred behaviours in workplace
The best way to handle ethical problems is to avoid their occurrence in the first place
4. Make ethical decisions in groups, and make decisions public, as appropriate
5. Integrate ethics management with other management practices
6. Use cross-functional teams when developing and implementing the ethics management programme
7. Value forgiveness
1. The organization's chief executive must fully support the program. 2. Consider establishing an ethics committee at the board level. 3. Consider establishing an ethics management committee.4. Consider assigning/developing an ethics officer.
5. Consider establishing an ombudsperson. 6. Note that one person must ultimately be responsible for managing the ethics management programme.
Socialresponsibilityisdefinedastheobligationandcommitmentofmanagers to take steps forprotectingandimprovingsociety’swelfarealongwithprotectingtheirowninterest.
Intheworkplacewearefaceddailywiththeresponsibilityofmakingdecisions. Howdowerespondwhensomeonespeaks to us? Howdowedecidewhat to do first whenthe boss givesusanassignment?
Thebestway to make a decisionis to thinkofresults: Whatisthebestway to achievecertaingoals? Oncethequestionisanswered, theethicaldecisionismade.
Ethicaldecisionsaresometimesdifficultforbusinessleadersfortheymustchoosebetweendifferentpriorities. Making a decisionbasedontheneedsofemployees, customers, stakeholdersandthecommunityrequires a goodleader.
The need for a company to behave “ethically” is described in terms of a company’s need to interact productively with its stakeholders.
Business Ethics means conducting all aspects of business and dealing with all stakeholders in an ethical manner…
Business ethics as competitive advantage
involves effective building of relationships with a company’s stakeholders based on its integrity that maintains such relationships.
It is increasingly important to include ethics in the corporation’s strategy and potentially implement it in a way that achieves a competitive advantage for the company and adds value to the stakeholders.
What is the main aim of business ethics?
What are the implications of ethical decisions in business?
What are the ethical issues for business?
What are the ethical principles for successful business?
How can business ethics be managed in the work place?
6. What are the benefits of managing business ethics in the work place?
7. Name the guidelines for managing ethics in the workplace.
8. Name the key roles and responsibilities in ethics management.
9. What are the reasons for managers’ social responsibility?
10. What are the questions to answer to make ethical decisions?
11. Name the guidelines for making ethical decisions.
12. What are ethical conflicts at work?
13. Ethics as corporate strategy.
14. Business ethics as a competitive advantage.