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Importance of value and ethics in business
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INTRODUCTION Society plays a huge role in the development of the personality of each individual because people are living among a society, people have also become individuals who accept or reject the rules, regulations, agree with someone's opinion or impose his own. This society is building a human personality, capable of living with other individuals like they are and get along in this world among others. People require acceptance, approval from the humans around them, whether there are parents or friends. It is crucial to be praised by friends and relatives, when a baby just begins to get acquainted with the world; he needs an assessment of his merits. As the child matures, these estimates give him confidence and believe in his uniqueness. …show more content…
People are involved in all aspects of organizational behavior, developing like individuals, professionals, forming their values, proficiency and ethical standards. The highest goals of each company are creating an environment that enables all employees to achieve better performance. The main steps for achieving these goals are building strong personal and professional ethical standards, corporate codex, corporate culture, strong management system and leadership. Every organization strives to keep employees who work in a manner compatible with its own corporate culture and to create an emotional sense of belonging to the company. In the next section, this paper will contain an analysis of these concepts. Generally, the most important aspects of organizational commitment are participation in work, ethical decision-making, and values. Individuals that adopt strong organizational values are willing to live as part of the organization, creating ideal conditions for the individual prospect and development. Ethics as an element of the company …show more content…
Stanwick (2014, p.214) identifies two groups of values: the first group - a set of ethical concepts, standards, assessments, which a person has from the birth; it is a code of ethics with which the person lives and works. The second group - those norms and standards introduced from the outside: internal rules of the organization, the ethical code of the firm, professional code of ethics. Building strong ethical standards are related to company profitability. Corporate ethics are important because it helps to develop customer and employee loyalty, employees make better decisions with business ethics as a guiding principle; this increases productivity and
For a company to be successful ethically, it must go beyond the notion of simple legal compliance and adopt a values-based organizational culture. A corporate code of ethics can be a very valuable and integral part of a company’s culture but I believe that it is not strong enough to stand alone. Thought and care must go into constructing the code of ethics and the implementation of it. Companies need to infuse ethics and integrity throughout their corporate culture as well as into their definition of success. To be successfully ethical, companies must go beyond the notion of simple legal compliance and adopt a values-based organizational culture.
Ethical judgements limit the methods available in the production of knowledge in both the arts and the natural sciences. Discuss.
Ethics or rather morals entail mechanisms that defend, systematize as well as recommend conceptions of right or wrong. Many organizations develop ethical codes to ensure employees and employers understand the difference in doing good or bad. In that respect, ethics are an essential aspect of successfully running of any organization or government. Ethics ensure employee’s productivity levels are up to the required standards. It also assists them to know their rights and responsibilities. Additionally, employers, as well as any persons in management, are guided by them to ensure they provide transparent leadership. Ethics also defines how customers should be handled. Ethical codes govern the relationship between customers and an
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.
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.
We human beings live in a society. The society or the social world we live in is based on human cooperation. In other words, the individuals in a society do not live in an isolated self-centered world. The human interactive system presupposes ethical and moral standpoint from which we operate. My personal ethical system is based on “service before self” and “love your neighbors as yourself”.
Although most companies have different strategic goals to achieve; they need to make sure that not only are the goals of the company are followed through, but the performance of each individual employee is recognized. The company also has to ensure their supervisors are willing to push their subordinates to their fullest potential in whatever their career goals may be.
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.
Meyer, J. P., & Allen, N. J. (1997). Commitment in the workplace: Theory, research, and application. Thousand Oaks, CA: Sage.
Organizational commitment is the strength of an individual’s identification with an organization. There are three kinds of organizational commitment: affective, continuance, and normative. Affective commitment is an employee’s intention to remain in an organization because of a strong desire to do so. Continuance commitment is and employee’s tendency to remain in an organization because he or she cannot afford to leave. Lastly, normative commitment is the perceived obligation to remain in an organization (Nelson & Quick, 2013, pg. 62).
Ethics are the driving force behind good business. Every ethical choice made by a professional can and will have a much different outcome than any unethical choice. Bad ethics can ruin many aspects of a business and as (Gaye-Anderson, 2007) states how quite easily the lives and professional reputation of the employees can even be severally damaged (para. 3). Everything from morale to motivation can be severely affected by poor ethical choices. Customers will take their business elsewhere. Employees will abandon ship. Other, competing businesses reap the benefits of the bad moral choices. Ultimately, the entire business can be brought down by one poor ethical choice.
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...
Personality development is the development of the organized pattern of behaviors and attitudes that makes a person distinctive (Laberge, 2006). Adults, especially parents and teachers, are principal components of these environments and therefore play a powerful role in helping or hindering children in their personality and cognitive development (Morrison, 2007, p. 99). According to Erikson (2007), children’s personalities and social skills grow and develop within the context of society and in response to society’s demands, expectations, values, and social institutions, such as families, schools, and other child care programs (pp. 98-99). Children personality does not occur over night. They learn and experience new things in life and how they relate to these experiences affect their personality.
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 ...
Personality involves a blend of characteristics that make one unique. In reviewing personality, we consider the influence of the interactions that one is engaged in, the nature or the environment of one's upbringing and genetics. The characteristic traits may change over time while some of them becoming a lasting part of a person’s personality. In this essay will analyze the theories that relate to the character and the various stages that children undergo during development. We will use the same theories and developmental stages in analysis my progress from childhood up to date.