• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

An Ethical Corporate Culture Will Guarantee Ethical Behavior Within A Business. Discuss

Extracts from this document...

Introduction

An Ethical Corporate Culture Will Guarantee Ethical Behavior Within A Business This paper describes the significance of ethical corporate culture ensuring ethical behavior within a business. Business ethics require a highly professional and practical source that is effectively designed for the managers and leaders and also for people who are specifically charged to ensure essential ethical practices in their organizations. Managing ethics in an organization presents tremendous advantages for the managers not only morally but practically as well. This is specifically true in the current dynamics of modern day businesses. Ethics in an organization is a matter of effective dealing with dilemmas having no indication of right or wrong ways. Managers deal with numerous ethical problems on a daily basis like conflicts of interest, mismanagement of contracts, and wrongful use of the available resources. Organizations have realized that they should manage their human resources effectively as commerce has become more dynamic and complicated. They have also acknowledged the need for guidance and support to ensure entire dealings are backed by fair ethical practices. The business field has traditionally remained as the domain of academics, philosophers and social critics. The primarily responsible people for managing ethics in an organization are managers and leaders who cultivate an environment in which ethical corporate culture develops through code of ethics thus guaranteeing ethical behavior. Significance of Ethical Corporate Culture Ethics in an organization is not a personal matter of integrity, but rather a function of distinctive variables, normally a matter of ethical social circumstances and environment of the economy. ...read more.

Middle

It should be noted that any good business practice is based on setting standards by the management related directly to the societal expectations. (Maxwell 2003, p. 125) Good business practice is the outcome of ethical behavior in the business inculcated mainly due to ethical corporate culture based primarily on a code of ethics. A code of ethics "represents a consensus among practitioners concerning the standards of conduct that apply to professional activities. These standards must address the most important ethical issues that arise in practice and set out guidelines for professional conduct". (Seigel 2000, p. 42) A company with an effective code of ethics forms the basis of its ethical behavior and supports it in accomplishing set objectives and therefore survives for a longer period of time. A business, therefore, has to make sound ethical decisions avoiding all types of deception and dishonesty by displaying a strong commitment towards the societal expectations. These ethical decisions should also be supported by the vision and mission of the business (Harrison 2005, p. 165). A code of ethics is the set of guidelines in writing established or determined by the organization for its workers as well as management to support them in performing their actions as per ethical standards, values, and moral principles. At any give point of time, there exists a generational gap to the code of ethics and as such different meanings are interpreted that perplexes a response by business. ...read more.

Conclusion

A corporate ethics office established in the organization can play a significant role in defining and implementing a code of ethics. The ethics office is in fact a tangible sign to each and every employee that management of the organization is serious in encouraging and supporting ethical practices in the company. A good manager utilizes ethical theoretic concepts in routine work as well as the procedures and policies of organizations are infused by it. As such, managers and leaders are responsible for the formation and implementation of ethical policies. Another way to view fundamental elements of ethical policies in an organization is to consider as ethical as any particular issue that implies material influence on human option of the accomplishment of community or organizational purpose. An ethical policy should provide a specific way for observing and communicating about any organization that addresses and revolves the critical arguments, questions, and actions that significantly benefit or harm those affected and involved by its activities. It seems quite reasonable to assume that an appropriate structure would involve related elements. It should also identify that the organization, in fact, operates in an ethical corporate environment to develop appropriate ethical behavior leading to increase in trust and confidence of customers, improving brand image, and remaining competitive in the market. (Chesher 2003, p. 187-195) Conclusion A detailed discussion has been made in the paper to justify the opinion that ethical corporate culture guarantees ethical behavior within a business. For supporting arguments, the significance of ethical corporate culture, the role of managers in developing a code of ethics, and highlights of ethical policies have also been presented. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our University Degree Management Studies section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related University Degree Management Studies essays

  1. CSR - Corporate social responsibility.

    * We provide a safe working environment for our employees by minimising foreseeable risks in the workplace. All employees receive regular health and safety training. * We provide proper governance for health and safety. Tesco shall abide by the non-discrimination laws of every country where it operates.

  2. Innovation For Business Success. It is possible to be innovative in both large ...

    Textor is successful in innovation through its supply chain partnerships both forwards to customers and backwards in its supplier base. Textor works closely with its lead customer, Kimberley Clark to achieve mutual benefits through innovation, and also with its own suppliers to the same end.

  1. Evaluating the different sources of business finance.

    sale the goods with an agreement to receive cash price in convenient instalments. The physical possession goods are delivered at the time of agreement." Advantages of Hire Purchase * A hire purchase agreement allows a consumer to make monthly/quarterly/yearly repayments over a pre-specified period of time.

  2. Business Report on Ethical Values and Practices of Richard Bransons Virgin Brand

    Virgin has created more than 200 branded companies worldwide, employing approximately 50,000 people, in 29 countries. Revenues around the world in 2006 exceeded �10 billion (approx. US$20 billion)." (About Virgin, 2009). The success of this company is predominantly due to his irrational way of thinking and planning, but he often maintains an ethical approach to business.

  1. International Business Of Starbucks

    This should be to Starbucks' advantage since the trend is a movement closer to the American model. Economic Factors The economic factors are abundantly important to consider as they give us insight as to consumer purchasing power and spending patterns.

  2. Ever since long-range planning appeared in the business world, there have been many arguments ...

    observed as a pattern in a stream of decisions (Stahl & Grigsby, 1997, p.37). Mintzberg (1987) has identified Five Ps for strategy: plan; ploy; pattern; position; and perspective (See Appendix A, p. 24). Strategic Thinking means asking 'Are we doing the right?'

  1. Research Methodology paper. In this paper we aim to investigate the extent to ...

    Yin (1998) provides us with five guidelines when conducting a case study. We as researchers need to have an inquiring mindset, focused on asking questions before, during and after the data collection. We need to listen, observe and sense our surroundings when collecting data and assimilate large amounts of data without bias.

  2. Before explaining how Apples philosophy & corporate culture have affected its handling of ethical ...

    To reduce the e-waste Apple uses recyclable materials for their products. Customers can trade old apple products and get discounts in the new products. As innovation is one of Apple?s major strength, it has also given some contradictory situation for them.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work