Is a formal statement of an organizations values on certain ethical and social issues
Ethical codes are specialized and specific codes of ethics. Such codes may be adopted by or on behalf of professions (e.g.,psychologists, doctors etc}, to guide the behavior of members, interactions among members, and interactions between members and the general public. Show
They are often not part of any more general theory of ethics but accepted as pragmatic necessities.
Some critics maintain that codes of ethics or professional responsibility actually assist professionals and organizations to be unethical. Compliance with a pre-existing code of ethics has been used as a defense for both professionals and organizations from charges arising from their questionable behavior. For example, is a lawyer defending someone who the lawyer knows is guilty ethical? Would it be ethical for the lawyer to argue that a different identified person committed the crime if that would improve the chances that the guilty client be acquitted? Is it ethical for a doctor to prescribe a drug that has not been approved for use if the doctor sincerely believes it would benefit the patient? [cp. Chester Megreer, Ethical Management] See also
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{{enWP|Ethical_code)) The Functions and Responsibilities of a ManagerWhen it comes to ethical standards, managers play a key role in setting the tone for their department or company. It is their responsibility to ensure that employees understand what is expected of them and that they are following the guidelines. Managers should also be on the lookout for any possible ethical breaches and take action if they occur. Here are the main functions and responsibilities of a manager: 1. Planning: Strategic, tactical, and operational are three types of planning. Ethical Leadership and OrganizationsEthics – a system of principles and standards of judgment that informs whether something is right or wrong. These are the fundamental moral ideas and behavioral norms that underlie the decisions made by individuals in an organization as they interact with stakeholders. The Three levels of Ethical Standards
Creating an Ethical FrameworkAn ethical framework is a system of values, guidelines, and principles that helps individuals within an organization make decisions. It provides guidance on how to deal with difficult situations and make choices that are in line with the organization’s values. Step 1 – Recognize the ethical issues involved in a problem or decision.
Step 2—Determine how the decision will affect key stakeholders and who they are.
Step 3 – Develop various possible responses and identify which ones are ethical or unethical.
Step 4 – Determine the “best” ethical response and put it into action.
Specific Ethical Behaviors of High Integrity LeadersLeaders with high integrity possess many ethical values and principles that they use as guidelines in their decision-making process. Some of these behaviors are:
The Characteristics of an Ethical LeaderLeaders who act ethically display traits that establish them as credible and trustworthy to those they manage. These ethical leaders effectively communicate their message and provide support, shaping the attitude, beliefs, and behaviors of those they work with through either a transformational or transactional leadership style. The Characteristics of a Transformational LeaderTransformational leaders are those who inspire change in others by raising their level of consciousness and awareness. These types of leaders possess the ability to see the potential in others and help them reach it through mentorship, coaching, and modeling desired behaviors. In order to be an effective transformational leader, one must have a clear vision of what they want to achieve and be able to articulate it in a way that engages and motivates others. Here are the characteristics of a transformational leader:
Transaction-Focused Leadership
The Roles and Responsibilities of Key StakeholdersThe fact that, in some ethical dilemmas, there are no right or wrong answers creates difficulties for businesses. The issue arises from the conflict of interests between different groups and individuals involved with a company (stakeholders). As an entrepreneur, you will have to deal with various conflicts. To do so effectively, you need to identify your stakeholders and figure out how best to accommodate them. For example, if you produce food products, you must consider how your decisions will affect numerous groups of people, including workers, farmers, raw material suppliers, unions, government agencies, banks, stockholders & investors who land the customers who purchase your products. Below is a list of potential key stakeholders for any business. The Following Are Some Questions That Can Help Identify Ethical Issues
Code of ConductAn organization’s Code of Conduct is a formal statement of its values on ethical and social issues. This provides specific guidance to managers and employees regarding expected standards of behavior in terms of ethics. A Sample Code of Conduct is provided below:
II. Treat each other with respect.
III. Keep your conflicts of interest in check.
IV. Keep information private.
V. Keep company property safe.
VI. Guarantee money is handled correctly and responsibly.
VII. Respect the law.
VIII. Conclusions and summary of the code. Top Five Reasons Why You Should Run an Ethical Business
The Five Most Important Factors for Maintaining Business Ethics
The Seven Deadly SinsSeven deadly sins have been used to evaluate human behavior for centuries. They are:
Reasons Ethical Breaches Occur
The Causes of Ethical Breaches and the Features of Ethical Cultures
Ethical Culture Characteristics
Creating an Ethical StandardA study has shown that smaller companies are less likely to have ethics programs than large companies. Still, entrepreneurs can encourage employees and others to become familiar with the following ethical tests for judging behavior.
Key TakeawaysThere is no one perfect way to run a business ethically. The best thing you can do is to be aware of the many different ethical considerations that come up in business and to make sure you have the plan to deal with them. Ethics are the moral principles that guide our behavior. They provide guidance on what is right and wrong, and help us to make decisions that are in line with our values. When it comes to business, there are a number of different ethical considerations that come into play. These can include things like how we treat our employees, the environment, and our customers. Some of the common causes of ethical breaches are intense pressure, unrealistic goals, and lack of training. Organizations can take steps to create an ethical culture by involving leaders, setting goals, and considering ethics during performance management. The Utilitarian Principle, Kant’s Categorical Imperative, The Professional Ethic, The Golden Rule, and The Television Test are all ways that we can judge whether our actions are ethical. In conclusion, it is important to be aware of the many different ethical considerations that come up in business. By being mindful of these issues, we can make sure that we are making decisions that are in line with our values. FAQsBusiness ethics are the moral principles that guide our behavior as we conduct business. These principles guide what is right and wrong and help us make decisions that align with our values. By defining acceptable behaviors outside of the state's purview. Businesses establish business ethics to encourage moral behavior among their workforce and win over important constituencies like customers and investors. An organization will frequently see a payoff in steady or increased revenues when it has a positive reputation in the market, attracts and keeps a loyal customer base, and keeps a talented workforce. One of the downsides of business ethics is that they can limit a company's ability to maximize profits. Having factories in developing countries, for example, can reduce costs. This is because businesses can use practices such as child labor and low wages to maximize profits. There are many different types of business ethics theories, but what distinguishes a company are its corporate social responsibility practices, transparency and trustworthiness, fairness, and technological practices. The primary goal of business ethics is to equip people with the tools they need to deal with moral quandaries. Ethical business decisions have consequences such as a satisfied workforce, high sales, low regulatory costs, more customers, and high goodwill. What is a formal ethical statement?A code of ethics is a formal statement of what your business prospects in the way of ethical behavior. Ethics and its unique social function to influence the development of an organization.
Is a formal statement of a firm's values and the ethical guidelines that employees are expected to follow?A C) code of ethics is a formal statement of an organization's primary values and the ethical rules it expects its employees to follow. This is the definition of a code of ethics.
Is a formal statement of a principle or rule that members of an organization must follow?A policy is a formal statement of a principle that should be followed by its intended audience. Each policy should address an important issue concerning the achievement of the overall purpose of the organisation.
What are formal statements that describe what an organization expects of its employees?codes of conduct formal statements that describe what an organization expects of its employees.
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