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Relation between ethics and business
What are the ethics of business practices
Relation between ethics and business
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Powerpoint Presentation Executing Leadership Greatness. Special Recognition – Denton, M, Self Paced People and Change Management: CD ROM TOPIC What do you as a leader do, if employees don’t trust in you as the CEO? What can employees do if they don’t trust in the CEO? This topic applies to you! Agenda Topic Impacts How does a CEO lose trust How can it be rebuilt What can an employee do Conclusion What are the impacts? Trust relationship gaps are one of the biggest stumbling blocks towards greater transparency, and better workplace relationships. Quite simply, If you have lost the trust of your employees - you have lost your credibility as an effective leader. This will have a direct impact on your future as CEO You can lose trust by: Denying responsibility or wrong-doing. Breaking an agreement with your employees – true integrity is based on keeping to your agreements Promoting self at the expense of others. You can also lose trust by : Not taking appropriate action when others engage in unethical behavior. Not living the Corporate standards of your firm. Not following through on commitments Not communicating openly - even the simple act of being vague and ambiguous can build confusion which creates mistrust. Do you trust me? – Practical exercise Building Trust – The Process You can Play Monopoly! Because you will need to “Start at the Start” This means starting with you! This is where you will have the most impact and get the best results. What to do...
Throughout your life, you’ll face tough decisions where you'll have to decide possibly against your ethical beliefs. Ethics don’t necessarily always have to involve law abiding. It’s rather about trusting your moral path and doing the right thing. Dori Meinert is the author of “Creating an Ethical Workplace” she explains the thought behind the never black or white decision making when it comes to businesses. Can businesses truly trust those individuals hired to steer their companies? It was mentioned that last year 41 percent of U.S. workers said they observed unethical or illegal misconduct on the job, according to the Ethics Resource Center's 2013 National Business Ethics Survey. Meinert’s article was not only eye-opening but very truthful since we’ve all been faced or witnessed unethical decision making. Once employees see individuals breaking the rules and regulations others will then think it's okay, which could result in employees leaving or major hoops for companies to jump through. When we tolerate misconduct we lower productivity and diminish the reputation of a company. Meinert mentioned that if
“Do as I say, not as I do” say’s the parent to the child who is watching their every move. Leaders may not say it, but their actions show inconsistencies in their leadership. How can leaders truly be trusted is they are not willing to change themselves? How can leaders breakthrough the wall of resistance if they are not willing to engage their employees, dispel the fear factor, and allow themselves to be vulnerable?
The movie “Glengarry Glen Ross” presented a series of ethical dilemmas that surround a group of salesmen working for a real estate company. The value of business ethics was clearly undermined and ignored in the movie as the salesmen find alternatives to keep their jobs. The movie is very effective in illustrating how unethical business practices can easily exist in the business world. Most of the time, unethical business practices remain strong in the business world because of the culture that exists within companies. In this film, the sudden demands from management forced employees to become irrational and commit unethical business practices. In fear of losing their jobs, employees were pressured to increase sales despite possible ethical ramifications. From the film, it is right to conclude that a business transaction should only be executed after all legal and ethical ramifications have been considered; and also if it will be determined legal and ethical to society.
Their organizational initiatives are often self-serving; however, the emerging workforce isn’t motivated by selfish managers. This selfish behavior often turns into unethical conduct. Unethical dealings in the workplace are always wrong. It is crucial to promote ethical behavior. Everyone must understand that once caught, unethical behavior is not just a problem for those directly involved, it is everyone’s problem.
5. All employees must practice integrity and honesty in all areas of the business. Avoid partaking in any activity that could have a negative effect on the company’s image.
It is my belief that transformational leadership improves organizational effectiveness, and, therefore, should be used in every organization. As my goal is to move up the management chart, I trust this theory and concept will enable me to be a more effective leader. The transformational leadership style is one of the widely used approaches today. Organizations believe that transformational leaders influence performance. In order for me to influence my follower’s to increase team performance, I must build that trust. Meaning, I must become that effective transformational leader in which my followers have trust in me. These learnings will be applied in my workplace. After the readings, I now understand how crucial trust is in transformational leadership. In the workplace, my focus will be on building cognitive trust among team members so that they will put more efforts into performing the given task. Having trust in the team leader and trust amongst team members has a positive effect on team performance. If I want the vision to be fulfilled, it’s imperative that I encourage my employees to work together. As the article mentions, trust is an important factor that mediates the effect of the transformational leadership on group outcomes. Applying the learnings of this article will enhance my leadership skills as well as improving organizational
It is also a very important thing to have in your career, it enhances the businesses reputation and creates loyal customers. Trust keeps customers coming back, this is why it is imprtant to have integrity because it helps build a relationship based on trust. Most customers would rather pay more money to a business with great ethics than save money going to a business that is untrustworthy. This same concept can be applied to the relationship with superiors and their employees, when an employee feels that they can trust their superior it makes for a much harmonized work place. Having integrity and honesty means that you will lose things from customers to employees but in the end it is worth it. Integrity is very closely linked to trust and it is a very imortant aspect of leadership and
A leader can’t simply say – trust me, trust takes time to build. People trust us when they see some value in us. When we take care of others, sacrifice something, show value to something, or do something for others? Its then we are valued by others and trust is gained from it.
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
come up with ethical values to maintain structure and integrity of the corporation. Theft means to
...eputation of honesty, quality, and integrity. It is also each employee’s responsibility to report to the company any situation where the standards or the laws are being violated.
When leaders do the opposite of what they claim, it creates mistrust within the organization. To earn trust from the organization, it is important to set an example and model the way (Kouzes & Posner). People tend to words and then observe actions (Kouzes & Posner, 2012). In a leadership position it is important to commit to those promises. When promises are met, members are likely to be more motivated and appreciate the organization (Kouzes & Posner,
Organizational success is dependent on both leaders and followers. A strong leader “cannot expect others to follow; leaders must provide a good reason for others to follow” (Satterlee, 2013, p. 6). Similarly, effective followers “share a number of essential qualities, including intelligence and self-reliance”, and do not require constant attention or approval (Satterlee, 2013, p. 6). A necessary element in building the foundation for functioning relationships, trust is an “intangible intellectual asset, a skill, and an influencing power” for leaders and followers (Savolainen & Hakkinen, 2011, Abstract section, para. 1). This literature review considers the concepts of leadership, followership, and trust by examining how each is important to organizational leaders, as well as, strategies for implementing within an organization. “A good manager gets others to do what he/she wants them to do. A good leader gets others to want what he/she wants.”
Leaders are dishonest. Although some are unintentionally dishonest, it can lead to the deterioration of trust between the leader and his or her followers. An ideal leader is effective when there is trust established between both the leader and the followers. According to Michelle Bligh, trust is an “expectation or belief that one can rely on another person's actions and words and that the person has good intentions to carry out their promises” (21). Leaders gain trust when they are consistently honest and communicate well with their followers. In return, followers respect an honest leader and obey commands without issues. Respect causes a positive environment because authoritative figures and subordinates can rely on each other to achieve the
Trust is necessary for successful collaboration but we are suspicious of each other – For example sometimes partners are selected by the policy which may lead to lack of trust in each group.