My god? Ethical factors are also a significant influence on institutions, for whom the traditional priorities of service quality and cost management must now increasingly take account of these same ethical considerations affecting the commercial and corporate world. For example it is unlawful to drive a little faster than the speed limit. You feel good about it – by being true to yourself you will feel good about the ethical decisions you make. ), business ethics, business law, corporate governance, corporate social responsibility, CSR, ethical business, ethical investment, ethical leadership, ethical management, governance, P4, P4 Management Model, PPPP, Purpose People Planet Probity, social enterprise. with proper consideration for the planet – the world we live in (in terms of sustainability, environment, wildlife, natural resources, our heritage, ‘fair trade’, other cultures and societies, etc.) Though that is not an ethical analogy it does speak to the importance of doing good for others. Such a viewpoint is associated with a ‘utilitarianism’ approach to ethics. Significant organisational benefits arise from adopting and applying good corporate governance and ethically leadership. This is due to the fact that our ethics are shaped by our moral code. Social identity is a company's image as derived from its relationships with all of its stakeholders. Get Help from These 6 Pillars of Talent Management. For many people, ethics and ethical judgements are based on a religious belief. Again look at previous examples and history. Though we may feel societal pressure to do everything “perfectly” there is no right answer for every business. They adapt quicker, and are seen generally to lead rather than follow. What are (whatever chosen) god’s contingencies for putting it all straight again? The independence of nations and the break-up of colonial rule are further examples of ethical pressures overwhelming the force of law. It’s not acceptable to dismiss or deny a group as a stakeholder on the basis that the relationship is too difficult to measure. The leading ethical thinking of any time tends to pioneer social and civilisation change. Consider what is important to you and what you stand for as a business. Benefits of Business Ethics The importance of business ethics reaches far beyond employee loyalty and morale or the strength of a management team bond. Below are examples of stakeholder groups, including conventional ‘investor’ stakeholders, and more modern stakeholder ideas. You are not a god, nor an agent of a god. Without a decent layout you could risk losing customers and money on a regular basi... Editor's Note: Ganesh Rajagopalan is a seasoned management consultant and former investment banker. Can Business Communication Be Thought of As a Science? Lisa Jeffs is an Intuitive Life Coach, Career Coach and Entrepreneur Coach from North York (Toronto). There is no absolute rule of what is ethical and what isn’t. Ethical considerations comprise several variables in one combination or another, if you are striving for real objectivity: Different personalities see ethical organisations in different ways. Get the facts from all possible perspectives. Systems does not refer to complex mathematics or scientific formulae. Ethical investment has been a growing aspect of business investment since the 1970s, although arguably the first types of ethical businesses can be traced back to the Quaker and Methodist movements of the 1800s. If you are feeling stuck and unsure of how to get started with making both ethical and everyday decisions it may be a good time to ask for help. Profit-focused corporations may also be helped by using the word ‘Purpose’ instead of ‘Profit’, because ‘Purpose’ is a much broader term – it encompasses profit, and also encourages consideration of the various aims that all businesses must balance with the need to make a profit. Examples of this happening through (Western) history illustrate the tendency for ethical considerations to drive the law: women’s suffrage (women’s right to vote); the abolition of slavery; and modern human rights and equality legislation are examples of ethical pressures causing change in law. A code of ethics is a document to encourage ethical conduct, business honestly, integrity, and best practices. How to Go about Implementing a Job Leveling Framework? Disruption Is Inevitable. For example, behaviours that are not necessarily unlawful but which are generally considered to be unethical to Western society would now typically include: You will perhaps think of other examples of behaviours or activities which are not necessarily unlawful, but which a reasonable majority of people (especially those directly affected by the activities) would consider to be unfair, unjust or simply wrong and therefore effectively unethical. The ‘greater good’ angle also illustrates the dilemma aspect within many ethical decisions. And if one does occur, an ethical responsible organisation will automatically know how to deal with it quickly and openly and honestly. Advisors and consultants (yes, these people have something at stake too), Employees – staff, managers, directors, non-executive directors. Ultimately people’s attitudes are more powerful than law. What is wrong to one community of people may be completely normal to another. HR Strategy: 4 Benefits of Setting Up a Robust Job Leveling Framework, 7 Things Managed Service Providers Should Keep an Eye On, Digital Transformation: 2 Distinct Approaches to Talent Management, To Take Advantage of Artificial Intelligence, We Need an AI Enabled Workforce, When Sustaining Stakeholder Interest Is Essential: The Importance of Corporate Social Responsibility (CSR) Sources of Value. Many people view this type of activity as a major invasion of privacy. If a company is perceived to not operate ethically, investors are less inclined to buy stock or otherwise support its operations. For example it has always been unethical to mislead customers into buying products or services. Our own personal ethics and morals will shape what ethical business decisions are important to use. Treating your customers with respect is an ethical decision you can make. Civilisation tried that a few thousand years ago and it doesn’t work. The Strategic Goals Grid, an Alternative Framework to SWOT Analysis. In simple terms this means you must be able to see the other people’s points of view. Moreover religion of certain types can be extremely divisive, which is obviously not useful for decision-making entailing diverse groups of people, as commonly arises in today’s increasingly diverse world. Both concepts – ethics and morality – are subjective and a reflection of society and civilization, which of course implies that precise meanings will change. Do you see how religion is not a brilliant aid for decision-making? And by what criteria will (whatever chosen) god be judging the decision? But do not base your decision wholly on the law. In some areas of the world it is acceptable for children to work in factories while in North America the thought of it is abhorrent. Consider cause and effect in the deepest possible sense. Whenever you see a big swell of expectation looming (among your immediate team, not those affected by your decision) which is borderline ethical/unethical, remember the ever-available third option to decide clearly and firmly to do nothing, in the right way for the right reason. Objectivity is the key to ethics, not personal belief or religion or personal power. The key to change in the current technological climate is digitization, and, as it stands, there are a copious amount of resources that you can use current... Peter Drucker, one of the first managerial thinkers, introduced MBO or Management by Objectives. Model or brainstorm the ‘what if’ scenarios. The reputation of a business in the surrounding community, other businesses, and individual investors is paramount in determining whether a company is a worthwhile investment.

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