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Importance of business ethics
Why are codes of ethics important in healthcare
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Recommended: Importance of business ethics
1. Describe some of the weaknesses in Jennings’ ethics program.
It is evident that based upon the information provided in this case, that Jennings’ ethic program is weak and is lacking vital information. According to an online article titled, “12 Steps to Building a Best-Practices Ethics Program”, the 12 elements that one should include in a strong ethics program are listed as, “Vision statement, values statement, organizational code of ethics, ethics officer, ethics committee, ethics communication strategy, ethics training, ethics help line, measurement and rewards, monitoring and tracking systems, periodic evaluation, and ethical leadership.” (Navran, 1997). Todd mentions how Jennings’ ethics code is very brief and does not provide any contact information for him to direct his questions and concerns to. Providing employees with a place to contact or report any unethical behavior they think is taking place in the organization is an essential part of an ethics program. If Jennings’ Department Store included this information in their company’s ethics code, then Todd would not find himself in an even stickier
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Inappropriate behavior can include lying to managers or clients, engaging in fraud or embezzlement, failing to meet specific operational standards or other similar conduct. A code of ethics can help employee’s understand why these actions are inappropriate and the reasons companies expect better behavioral performance. Companies may also limit their legal liability from poor employee performance by using a code of ethics.” (Vitez, 2015). If Jennings’ had an in-depth company ethics code, then maybe their employees and managers would understand the importance of acting in an ethical behavior and see the damages their poor decisions can have on the future of the
By proactively addressing ethical issues with a code of conduct, Raiders Inc. can set the standard regarding how they want employees to behave. Employee can be trained on the company code of ethics so they understand how their company expects them to respond. They can also train them on the biases of decision making, to make sure they are aware of the pitfalls that exist. (Robbins & Coulter, 2012)
The importance of having a code of ethics is to define acceptable behaviors and promote higher standards of practice within a company. The code should provide a benchmark for...
To apply this system of moral values effectively, one must understand the structural levels at which ethical dilemmas occur, who is involved in the dilemmas, and how a particular decision will affect them. In addition, one must consider how to formulate possible courses of action. Failing in any of these three areas may lead to an ineffective decision, resulting in more pain than cure.” Ken Blanchard states, “Many leaders don’t operate ethically because they don’t understand leadership; these executives may have MBA’s from Ivey League schools or have attended leadership training; they may routinely read the best-selling management books, however, they don’t understand what it means to be a leader.” They don’t model a way of ethical behaviors.
An integrative model for understanding and managing ethical behavior in business organizations. Journal of Business Ethics, 9(3), 233-242. Doi: 10.1007/BF00382649
• Improve and customize organizational procedures that replicate their organizations’ mission and ethical values. • They must be malleable enough to compact with the most of the ethical fears at all levels of clinical, administrative, occupational and organization. • They must attempt to offer various educational programs to all the committee members about the ethical values, and more stress must be kept on the universal matters of ethical decision making in the present culture of healthcare. • Healthcare executives must be able to stimulate learning prospects such as conducting an open discussion forums or meeting schedules regarding of ethical issues. • Every organization must have a separate committee only for ethics and must also include agents from different crowds like one from physicians, one from nurses, one from managers, one board members, one social workers, one attorneys, someone on behalf of patient community.
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.
Ethical behavior is behavior that a person considers to be appropriate. A person’s moral principals are shaped from birth, and developed overtime throughout the person’s life. There are many factors that can influence what a person believes whats is right, or what is wrong. Some factors are a person’s family, religious beliefs, culture, and experiences. In business it is of great importance for an employee to understand how to act ethically to prevent a company from being sued, and receiving criticism from the public while bringing in profits for the company. (Mallor, Barnes, Bowers, & Langvardt, 2010) Business ethics is when ethical behavior is applied in an business environment, or by a business. There are many situations that can arise in which a person is experiencing an ethical dilemma. They have to choose between standing by their own personal ethical standards or to comply with their companies ethical standards. In some instances some have to choose whether to serve their own personal interests, or the interest of the company. In this essay I will be examining the financial events surrounding Bernie Madoff, and the events surrounding Enron.
To provide an example of a breach of ethical conduct in the workplace, we may remember the case of a financial manager in a corporation that decided not to pay overtime to some employees. After a deep outside investigation, the company was summoned with thousands of dollars to remedy the payment that was supposed to be paid to all employees who worked more than forty hours per week. Again, it is needed more than just a booklet stating that the company adheres to the code of business ethics. It is needed serious managers that can run the company with the most seriousness as possible. Consequently, any written codes of business ethics, regardless of how well it has been crafted, need people that adhere to its internal content with a serious desire to do the right thing.
I discovered how sticking to one’s morals should be the topmost priority for everyone involved in business, whether personal or professional. Regardless of what the consequences may be, the intensity of the problem, and the complexities it may bring, sacrificing one’s integrity should never be an option, as integrity goes hand-in-hand with the morals of an individual (Duggan & Woodhouse, 2011). They further go on to say that having individuals take part in building a code of ethics that supports employee integrity, they will act ethically. Also, I believe that companies should place more emphasis on the moral behavior of their employees, and clear-cut policies should be set regarding such ethical situations. Furthermore, I realized how serving justice while making decisions really helps in the long run, and that opting to go for the ideal rather than they deserved is not always the best option, and could hurt a company in more than one
Business ethics are a set of moral rules that govern how a business operates, how people should be treated within an organization, and how business decisions are made. They are a crucial part of employment and in managing a sustainable business, mainly because of the serious consequences that can result from decisions made with a lack of regard to ethics. Even if you don’t believe that good ethics don’t contribute to profit levels, you should realize those poor ethics have a negative effect on your bottom line in the long-run. Every business in every industry has certain guidelines to which its employees must stick to, and regularly outline such aspects in employee handbooks.
Ethical theories are a way of finding solutions to ethical dilemmas using moral reasoning or moral character. The overall classification of ethical theories involves finding a resolution to ethical problems that are not necessarily answered by laws or principles already in place but that achieve justice and allow for individual rights. There are many different ethical theories and each takes a different approach as to the process in which they find a resolution. Ethical actions are those that increase prosperity, but ethics in business is not only focused on actions, it can also involve consequences of actions and a person’s own moral character.
"Ethics are personal and, at the same time, a very public display of your attitudes and beliefs. It is because of ethical beliefs that we humans may act differently in different in situations" (University of Phoenix, 2007). Poor ethical choices in the workplace can truly hurt people. Poor ethics can damage their career, happiness, and quality of living. Not only can these actions hurt the individual who has made the bad choices, but also most often it hurts the innocent. This essay will provide two actual case studies; one of positive ethical principles and the other of poor ethical principles.
A company's code of ethics is very important to establishing the expectations and quality of its brand. The code of ethics are concrete expectations for employee behavior, accountability and communicates the ethical policy of a company to its partners and clients. A good business practice is to have sound ethics. Having good ethical practice is knowing the difference between right and wrong and choosing what the right thing is. Though good ethical behavior is something that should be done automatically, a company needs to have a set of rules in place that holds everyone accountable. Over the last twenty years, the country has been bombarded with company scandals and unethical behavior; though morally wrong, the punishment does not fit the crime. The punishments have been overkill. A murderer, rapist, or child molester commits violent crimes and potentially is out of jail in 10 - 20 years. The CEO’s that commit white collar crime receive 25 years to life; this paper will discuss how this punishment for committing nonviolent crimes, such as breaching a company’s code of ethics, are disproportionate to violent crimes that plague the country today.
Ethics is the responsibility of each individual person, but starts with the CEO and the Board of Directors, setting the right tone at the top and moves down through the organization, including setting the tone in the middle. A company’s culture and ethic standards start at the top, not from the bottom. Employees will almost always behave in the manner that they think management expects them, and it is foolish for management to pretend otherwise (Scudder). One of the CEO’s most important jobs is to create, foster, and communicate the culture of the organization. Wrongdoings or improper behavior rarely occurs in a void, leaders typically know when someone is compromising the company
Please explain unethical behavior in work place and explain the importance of code of ethics?