BUSINESS MANAGEMENT DISCUSSION POST

BMGT 496 Wk 1 R. HALL initial post:

The word Ethics, we hear it make us think of a set of standards such as rights, obligations, fairness, responsibilities, and specific virtues like honesty and loyalty. These standards can sometimes be unwritten rules that are necessary for human to live and interact with each other. (Lumen, n.d).  Business Ethics follows the same standards but in a slightly different way. Business Ethics is defined to be a set of morals, ethical believes that direct the values, the behaviors, and the decisions of a business as a whole which includes the leadership and the employees. A company’s leadership ethics can direct how the company runs on a daily basis; the leadership can lead the employees by example by making decisions that are not only beneficial to the employees but also to the entire company. (Horton, 2020). The Ethical leadership of a company have an effect on the employees, when the leadership is guiding the employees in an ethical behavior, the employees follow their leads by working in an honest and loyal way. And this can increase productivity, morale, and lower turnover rate. (Horton, 2020). The Business ethics play a crucial role in an organization’s culture, the organizational culture refers to the values, visible artefacts, and rituals that shape the behaviors of employees within an organization. Therefore, it may be considered as the glue that holds together members of an organization. If a company wants to develop a top-notch ethics and compliance programs, it must start with a positive culture of integrity. (Deloitte, n.d). The culture of integrity is characterized by the organizational values, the tone at the top meaning the leadership and senior managers push the employees and the business partners to adopt an ethical behavior; incentives and rewards, accountability, comfort of speaking up and procedural justice. Organizations with strong positive cultures create trusting relationships with stakeholders, it can also lead to a long-term sustainability of a company. (Deloitte, n.d).

 

 

 

References:

Deloitte, (n.d). Corporate culture: The second ingredient in a world-class ethics and compliance program. Retrieved from: https://www2.deloitte.com/content/dam/Deloitte/us/Documents/risk/us-aers-corporate-culture-112514.pdf

Horton, M. (2020, July 01). The Importance of Business Ethics. Retrieved from: https://www.investopedia.com/ask/answers/040815/why-are-business-ethics-important.asp

Lumen, (n.d). Introduction to Business Ethics. Retrieved from: https://courses.lumenlearning.com/atd-epcc-introethics-1/chapter/ethics-explored/

Saylor. (n.d). What Is Business Ethics? Retrieved from: https://learn.umgc.edu/d2l/le/content/547083/viewContent/20377281/View