Ethics Portfolio

Running head: ETHICS PORTFOLIO 2

ETHICS PORTFOLIO 2

Ethics Portfolio

LaScherrie Wilson

Ethical Problems MSL-624

Instructor Dr. Jackie Smalls

April 24, 2021

Ethics Portfolio

Ethics is a very important factor in the operations of a business organization. Ethics helps to define the code of ethics to which the leaders and all the employees need to adhere in their daily operations. According to Crane, Matten, Glozer, & Spence (2019), more than 30% of business organizations around the world have implemented various ethical programs in their business companies. This is because most sponsors and financial institutions are usually attracted to organizations that enhance ethical programs. Examples of business ethics that most companies usually strive to achieve include gender equality, diversity, and equal treatment of all the employees among other practices.

However, Ferrell and Fraedrich (2016) state that there is a huge difference between ethics and compliance. First, ethics requires organizations to operate while taking into consideration the interests, priorities, and values of other people. Therefore, it prevents the leaders or business organizations to be biased in their day-to-day management. However, the process of compliance requires the leaders, the staff members, and all the stakeholders in a business organization to follow the rules, the standards, and the policies that are set by a particular organization. Therefore, in such a case, the area of the operation is defined by the standards and the best practices that are set by that business organization (Ferrell & Fraedrich, 2016). In a business organization, ethics is a collective responsibility that lies on the shoulder of every member of an organization. However, the leaders must ensure that ethical programs are followed in their respective business organizations. In most business organizations, inclusion councils are usually developed to implement and oversee various business ethics that are to be followed by every member of that organization. However, in the case of ethical problems, various methods can be used to solve such problems. The most common method is by using the inclusion councils. Their work is to report such cases to the top-level management where a meeting is conveyed to address and solve the dispute.

References

Crane, A., Matten, D., Glozer, S., & Spence, L. (2019). Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press, USA.

Ferrell, O. C., & Fraedrich, J. (2016). Business ethics: Ethical decision making & cases. Cengage learning.