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Importance of ethics and value in business
Role of values and ethics in business
Role of values and ethics in business
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Introduction:
I shall answer this question by discussing what ethics and values are and how they can influence business sustainability. I will also discuss why ethics and values are important and necessary in a business, and the possible repercussions that could occur without ethics and values in a business.
Business sustainability:
Business sustainability consists of three components, these are: social, economic and environmental. The business has to consider these three components as the business must make a maximized profit (economic) but must not in any way damage the environment in the long term (environmental). The business must also take care of social issue and people and communities as they are support the business.
Ethics and Values:
Ethics are the morals principles that we obtain through various means, such as religion, culture, etc., that people live by. Values are the way we feel about honesty, wrong-doing, etc. Ethics and values help determine the way employees and members of the business should act and how they should act to show how what the business stands for. The business has a number of ways in which it helps employees can use ethics and values to show the importance in business sustainability.
The importance of ethics and values in the social aspect is that it forms the perceptions of the business to the community. This is important as when people speak about the business they will have a positive view of the business and will want to support the business. This also applies to recruitment of employees, as people will want to work in a business will good ethics and values. The business helps community to show its ethics and values through social responsibility. Social responsibility refers to the business using...
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...ees as this is unethical. These unethical issues may be reported to a superior to fix the issues.
Conclusion:
Ethics and values are important in a business as they help the business function and create a standard for employees and help the environment and the community which in turn allows them to do support businesses.
Question 2: How important is leadership in the success of business organisations
Introduction:
Leadership is the controlling force of the whole world, it allows everything to operate best without any chaos. Leadership is important in business because leaders must manage and communicate with employees if they wish to be successful. Leaders range from the Chief Executive Officer (CEO) to managers of different levels.
Leadership:
What makes a leader? Is it power? No. Leadership being able to make people or a group of persons work effective together.
According to Business Dictionary.com, leadership is defined as the individuals who are the leaders in an organization, regarded collectively. It also can be define as the activity of leading a group of people or an organization or the ability to do this. Leadership involves the establishing of a clear vision, sharing the vision with other so that they will follow willingly, providing the needed information, knowledge, and methods to realize the vision and coordinating and balancing the conflicts interests of all members and stakeholders.
Establishing and implementing a strategic approach to improving organizational ethics is based on establishing, communicating, and monitoring ethical values and legal requirements that characterize the firm's history, culture, and operating environment” (p. 129). Ethics programs ensure satisfactory relationships with all stakeholders by aligning with all of their demands and needs, and determine conduct with customers and relationships with regulators, shareholders, suppliers, and employees (Ferrell, 2004). Values are a core set of beliefs and principles, one or many. A number of factors contribute to the development of values. These include membership in a community or culture, attitudes, beliefs, and behaviors.
Ethics and values are essential and important in every aspect; in our daily personal and professional lives. To begin with, what is ethics? Ethics are a set of rules or values based on the morality of what is good and bad. Having ethics and values is what keeps our society less chaotic. I believe the code of ethics is necessary in the criminal justice system because the main purpose of the professionals within this field is to make sure that they treat citizens with respect and dignity. Code of ethics is a document that summaries the mission and values of a business or organization. It also summaries how professionals are supposed to carry themselves, approach problems and the principles to which the professional is held.
For people in the business world ethics are a huge parts as it is for every other occupation in the world too. For business though ethics are the obligations a company has to their employees, venders, and customers. The individuals themselves to the organization as a whole can apply business ethics to all parts of the business. No matter where a person may go if they work for themselves or for fortune 500 companies, you will be working for a business and it is always good to have moral ethics and be able to see the importance in them. (Moral) For example when a person takes action on behalf of a business, that person exemplifies the business ethics to community and
Ethics are moral principles or values that govern the conduct of an individual or a group.It is not a burden to bear, but a prudent and effective guide which furthers life and success. Ethics are important not only in business but in academics and society as well because it is an essential part of the foundation on which a civilized society is built.
The good thing about environmental sustainability is that it makes a business look at its long term impact rather than its short term gain. Looking at the extract, corporations can engage themselves in several sustainability activities. There are four possible levels:
The notion of ethics deals with people’s behaviors within a company. Social responsibility involves a company’s moral obligations and the manner in which the organization makes its decisions. Although ethics and social responsibility are similar on a conceptual basis, each has its own unique characteristics that express their differences and its independence of the other. Ethics and social responsibility have to be present and coincide with one another for a business to be ethically sound.
What is leadership? Leadership is defined as a process by which a individual will influence others to obtain goals. Leaders will guide, direct motivate, or inspire others. Leadership is defined by not only traits but actions as well. Leaders are inspirational, trustworthy and charismatic. Many people may think a manger is leader. Although leadership and management go hand in hand, they are not the same. Everyone has their own beliefs about what characteristics an effective leader should have. To me, communication skills, critical thinking skills, and having a vision are few characteristics of becoming an effective leader. A leader is not only born, but made. Some are born as leaders or some are made to be leaders.
Many people believe that leadership is simply being the first, biggest or most powerful. Leadership in organizations has a different and more meaningful definition. A leader is someone who sets direction in an effort or task and influences or motivates people to follow that direction. The power point presentation explains leadership is the influence that particular individuals exert on the goal achievement of others in an organizational context.
Ethics in the workplace is a very important thing to have. Without a sense of ethicality in the workplace there are many things that could go wrong. You could even end up losing a job because of a lack of ethics, or other consequences could be felt due to a lack of caring or morality. The workplace is a place that you should show respect and dignity, and a deeper sense of ethics is very important in order to uphold these senses of morality. Workplace ethics, which include such things as behavior, integrity, commitment, teamwork, and other things, are important, if not required, in most workplaces and can help to improve performance and morale for workers and employers.
Leadership is the ability to influence individuals to make them want to achieve the objectives of the group the importance of leadership. It is the link between the workers and the organization's future plans and perceptions. It is working to unify the efforts of workers towards achieving the goals set. Control over the work and draw the necessary plans to solve problems. The development of individuals and their training, care and motivate them. The ability to increase individual development and humanitarian and practical
Sustainable Development in Business EXECUTIVE SUMMARY This report is aimed at analyzing and studying the advancement and the operation strategies for sustainable development. Information was gathered, using business articles, on the strategies and techniques required for sustainable development. Sustainable development is not only important and essential for environmental protection and socially well-being, but also for certain economic goals a business may want to achieve. Much of the business community is unaware of proper sustainable development policies; sustainable management issues are often brought into awareness by risk management channels. The River Basin Management in the European Union (EU), has implemented public participation in the planning and management process.
Ethics and values are very important in guiding employees and management in an organisation. It encourages employees to be accountable and transparent and also in make ethical decisions. In an organisation that ethics are practiced there are less conflicts and there is consistency at all times even when an organisation undergoes difficult times. A code of ethics is established in an organisation to solve problems when the do arise and explains how employees should respond when faced with different situations. Values and ethics are important for employees to get along. Our values tell us what we think is important and that helps us in making right decisions. For example a person who values justice will not be coursing conflicts and will adhere to ...
Ethics is the study of right or wrong and the morality of the choices that individuals make. That basicly means the set of morals or responsibility that a person, group, or field have. Ethics can also be classified as code of morals. In business there are ethics that portray to business. These are called business ethics, business ethics just happen to be the application of ethics, morals, into the business field. Some examples of business ethics are obeying all rules and regulations even when nobody 's looking, which is pretty self explanatory, you shouldn’t be breaking rules. Even if it is as simple as washing your hands after you use the restroom or straight up lying to your customers, they are the ones making you money so if they find out
Ethics and values apply to our personal and professional lives. Ethics are a notion of one’s actions, which originates from ideology of an individual doing what is right not wrong. According to the dictionary ethics is the “branch of philosophy dealing with values relating to human conduct, with respect to the rightness and wrongness of certain actions and to the goodness and badness of the motives and ends of such actions.” These beliefs are amassed to help a person determine how their actions will be carried out. Ideals can be applied as values to a person’s way of living. There are people that view values as a personal code, and see them as a personal indication of their beliefs. Our professional values and ethics come from many different sources. In our childhood, our parents and peers are instrumental in the development of our values and ethics. As we enter the workforce we align with our ethical values to our employers, their values are shown through a company’s codes of practice.