Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Ethics and business performance
Ethical factors affecting business
Ethics and business performance
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Ethics and business performance
lack of quality integrity as an ethical issue may be explained in simple terms of ethical values that supports to provide the best and do not do anything that harms others. Do something positive and try to improve the quality of life for everyone. In ethics, integrity is concerned about the honesty and truthfulness and similarly ethical values demands high level of professional competence and thus lack of quality integrity may be termed as an important ethical issue that needs to be addressed. In fact in todays competitive world the very existence and growth of an individual, group, firm, company and or organization needs quality integrity more than the traditional cost advantages. Premium for quality integrity makes it much more relevant and meaningful in improving the quality of life and environment to live in.
The most fundamental or essential ethical issues that businesses
…show more content…
Maximizing the value of each employees' contribution is a key element in your business's success.
According to Santa Clara University, the following framework for ethical decision-making is a useful method for exploring ethical dilemmas and identifying ethical courses of action: "recognizes an ethical issue, gets the facts, evaluates alternative actions, makes a decision and tests it and reflects on the outcome." Ethical decision-making processes should center on protecting employee and customer rights, making sure all business operations are fair and just, protecting the common good and making sure individual values and beliefs of workers are
This paper is an analysis of the ethical business decision matrix developed by The George S. May Company (May), a management-consulting firm. The paper will also compare how these guidelines were used by John D. Beckett (Beckett) in his company and how the author’s firm, PricewaterhouseCoopers, LLC (PwC), uses them. The guidelines are meant to be used by employees. These guidelines are specifically a measure of moral and ethical principles tied to business ethics in acceptability of right and wrong behaviour in the workplace.
Ethical decision-making is the responsibility of everyone, regardless of position or level within an organization. Interestingly, the importance of stressing employee awareness, improving decisions, and coming to an ethical resolution are the greatest benefits to most companies in today’s world (Weber, 2015).
The method of ethical decision making which was developed by Dr. Cathryn A. Baird presented two components contained in all ethical decisions which are; The Four ethical Lenses and the 4+1 Decision process. The Four Ethical Lenses issue claims that different ethical theories and the means in which we tend to approach the situations which form part of our ethical traditions are looked at in four different perspectives. From each perspective there are different values on which to decide whether the action taken is either ethical or not and each lens also lays emphasis on determining whether the decision made is of ethical requirement. In the 4+1 Decision Process, people who are responsible for making final decisions in an organization do it using four specific decision making steps and eventually will end up with one extra decision which gives a chance to reflect. The 4+1 decision process allows the decision makers to give solutions when faced with complicated ethical issues (John Muir Institute for Environmental Studies, 2000).
Integrity is a fundamental value that the society admires and people strive for. It is a value that requires practice on a daily basis. This quality is always voiced strongly when discussing an individual’s character. When enquiring about an individual, the response usually begins with “ …that person is an honest person or the person has integrity.” Integrity and honesty
Lastly, integrity comes down to taking the correct action when no one is around to monitor the behavior. Personal views can cloud an individual’s decision making process by looking to obtain dishonest gains through deceitful actions.
Integrity is the quality of being honest and having strong moral principles. I have taken in stride these qualities throughout the years of my life. I have been taught integrity by my parents and by many teachers in my educational and personal life. Without integrity there is no trust or respect for people in the world. Amy Rees Anderson as an entrepreneur turned into a counselor and angel investor, shares her opinions on integrity in business and life experiences. Also Brett and Kate McKay take a look at the things that challenge your integrity and the consequence of your choices.
Ethics in business is a highly important concept, as it can affect a company’s profits, salaries paid to employees and CEOs, and public opinion, among many other aspects of a business. Ethics can be enforced by company policies and guidelines, set a precedent when a company is faced with an important decision, and are also evolving thanks to new technology and situations that arise due to technology usage. Businesses have a duty to maintain their ethical responsibilities and also to help their employees enforce these responsibilities in and out of the workplace. However, ethics and the foundation for them are not always black and white. There are many different ethical theories, however Utilitarianism, Kant’s Deontological ethics, and Virtue ethics are three of the most well known theories in existence. Each theory is distinct in that it has a different quality used to determine ethicality and allows for a person to choose which system of ethics works best with both the situation and his or her personal ethical preferences.
Workplace ethics engages in judgements and collective agreements regarding a suitable guide of behaviour. The ethical decision making framework (EDM) presents, business decision is ethical or unethical.EDM provides an indication of traditional decision making process and issues that manipulate ethical decisions. Employees tend to fraud because they can experience the unfair treatments or situation that they face. Manages may ask employee to work long hours, and then they can take additional time off. Good performance leads to remunerations and appreciation managers than workers.
“Integrity stems from the Latin word ‘integer’ which means whole and complete. So integrity requires an inner sense of ‘wholeness’ and consistency of character. When you are in integrity, people should be able to visibly see it through your actions, words, decisions, methods, and outcomes. When you are ‘whole’ and consistent, there is only one you. You bring that same you wherever you are, regardless of the circumstance. You don’t leave parts of yourself behind”(Kang).
For this paper Washington Mutual has been selected to show how the ethical decision making process can be achieve. When it comes to business ethics in the workplace Washington Mutual has designed what can be considered a well balanced workplace with behaviors that are aligned with their moral values and business ethics. Business ethics are sometimes depicted as resolving conflicts where one option can appear to be the correct choice. There are many different ethical dilemmas that are faced by managers and leaders everyday that are highly complex and have no clear choice or guidelines to assist in making the choices for resolution. There are times when an employee has to decide whether or not to cheat, lie, steal, or break their contract. These ethical decisions are real-life situations where they are forced to make on a daily basis. This is why it is ultimately important that all employee know the six steps to ethical decision making that the company uses.
In public, integrity plays a very important role since people who have integrity hold firmly to their views, which support them to act properly in academic, personal and professional circumstances. In the academic community, students of integrity will notice academic standards severely, exchange ideas freely and improve the social acknowledgment of the value of their institutions. In personal conditions, integrity leads individuals to understand who they really are, thus they can be honest to their benefits and ideal life. In the workplace, truth enhances personal commitment to the code of ethics set forth by the profession. Additionally, integrity begins mutual beneficial personal relationships in a community, helps people develop a sense of reliability and responsibility, and fosters their professional competencies. In a word, the more people have integrity in a community, the more efficiency and efficiency we can have, and the more happiness and trust we can enjoy.
Ethical issues in business arise because of conflicts between an individuals personal moral philosophies and values and values or attitudes of organization in which a person works and a society in which one lives. Ethical issues can be identified in terms of the major participants and functions of business. Ethical issues related to ownership include conflicts between manager’s duties to the owners and their own interests, also separation of ownership and control of business. Financial issue includes, for example, the accuracy of reported financial documents. Ethical issues can acquire between manages and employees, then employees are asked to carry out assignments they consider unethical. Consumers and marketing issues are related to providing safe desired products for a fear price and not harming people and an environment. Accountants also face ethical dilemma, they have to deal with competition advertising commission. All of this places the accounting profession in situation of ethical risk.
In conclusion, integrity is a vital part of all our lives. Without a basic human integrity, we are animals. Integrity defines how we live, and who we are. Are we good people? Is our neighborhood safe? Is our college a great place to live? When trying to answer these questions, you first look at the integrity. In life and in death, a man will always be defined by his integrity. Is this neighborhood safe for me to my family to? Is this college a good one to send my child to? These questions are constantly being asked, and the answer always lies in integrity.
The following five-step model can help employees make appropriate decisions when faced with an ethical dilemma. The first step is to recognize the issue. Knowing what is the root cause and the main issue can help determine what ethical issue is at hand. The next step is to get the facts of the situation. Eliminating bias opinions and knowing the information source can increase the chances of making a good decision.
However, when in business a person confronted a problem it is necessary that he utilize ethical reasoning. The ethical reasoning requires that the individual evaluate its own moral and ethical views in order to make a decision. This reasoning primarily focuses on two crucial features. The first is known as Duty-Based Ethics, which is concentrated in doing