Business ethics and their role in

The following list of principles incorporate the characteristics and values that most people associate with ethical behavior. Ethical executives are honest and truthful in all their dealings and they do not deliberately mislead or deceive others by misrepresentations, overstatements, partial truths, selective omissions, or any other means.

Business ethics and their role in

Ethical Responsibilities in the Employer-Employee Relationship — Applying Ethical Principles — Ethical principles apply to all aspects of the employer-employee relationship. The employer-employee relationship should not be looked at simply in economic terms.

It is a significant human relationship of mutual dependency that has great impact on the people involved.

Business ethics and their role in

With stakeholders everywhere, the relationship is laden with moral responsibilities. Though the pressures of self-interest are very powerful and compelling, both workers and bosses should guide their choices by basic ethical principles including honest, candor, respect and caring.

Employers have a moral obligation to look out for the welfare of employees. It is not a question only of fair pay and good working conditions, there should be a real and enduring concern for the well-being of employees.

While the welfare of the company and other co-workers must remain the dominant consideration an ethical employer is willing to make decisions and implement policies in a manner that demonstrates a genuine concern, even when there are associated costs which impact profitability.

A particularly difficult context that tests an employers morality concerns the termination of single employees or large groups. Layoffs, plant closings, and other dramatic events of this nature have dramatic psychological and financial impact on the entire workforce and on the reputation of the company.

Kill-the-messenger behavior at any management level is improper, as is any active or passive encouragement of dishonest reporting. Employees should feel free to raise ethical or other issues without fear of retaliation. Employees are entitled to count on the commitments of the employer especially about central matters such as pay, raises, and promotions.

Employees have obligations as well. Loyalty goes both ways. Employees have moral duties to the organization, co-workers, and customers.

What Is the Role of Business Ethics? (with picture)

When an employee, without any notice to an employer secretly looks for a new job, often covering up interviewing time with deceptions or lies, is the conduct any less untrustworthy?

When an employer decides to let an employee go, it is generally thought that the employer should give the employee ample notice or severance pay.

Because of the disparity in power, many employees adopt a double standard that gives them more leeway than they afford the employer. One aspect of this attitude draws on the doubtful assertions of necessity. Another is the implicit belief that if an offer is too good to refuse, there is no moral obligation to refuse.

The moral obligations of an employee include loyalty, candor, caring and respect. The mismatch in economic strength between the employer and the employee does not change that.

People of character take into account their moral obligations to their employer before they interview for another job. If they know that their departure will jeopardize the organization, co-workers, or customers they should make it clear at the job interview that they are not available until they have provided a reasonable transition.

If we are not certain how much hardship departure may cause, the principle of respect suggests that the parties most affected be given an opportunity to participate in a discussion to suggest the least harmful alternative. Because the employee-employer relationship operates in the context of business, there is a tendency to play by different rules dictated by who has the leverage, and principles of expediency — what you can get away with — rather than moral principle.Business ethics is the study of proper business policies and practices regarding potentially controversial issues such as corporate governance, insider trading, bribery, discrimination, corporate.

The Role of Social Responsibility in Business Ethics Business ethics take into consideration responsibilities not just inside the workplace, but also within the environmental, cultural, and social structures of communities.

Business Ethics and Social Responsibility Organizations can manage ethics in their workplaces by establishing an ethics management program. The social responsibility movement arose particularly during the s with increased public consciousness about the role of business in helping to cultivate and maintain highly ethical practices in.

The ethics program is essentially useless unless all staff members are trained about what it is, how it works and their roles in it. The nature of the system may invite suspicion if not handled openly and honestly.

Jan 19,  · The Role Of Business Ethics In Relationships With Customers. We also establish strict ethical processes for our customer-facing teams and their support folks, all with appropriate checks and.

Corporate moral agency

Business Ethics Benefits. The importance of business ethics reaches far beyond employee loyalty and morale or the strength of a management team bond.

As with all business initiatives, the ethical operation of a company is directly related to profitability in both the short and long term. The reputation of a business in the surrounding .

Business ethics - Wikipedia