...Managing Ethics in the Workplace Trinidad,Loudine T. BSE-4C Marketing Prof. Rose Marie Ramos Managing Ethics in the Workplace Managing workplace ethics promotes shared values that result in better cohesion of the workforce, and play a crucial role in the success of any organization Workplace ethics are the application of morality, or concepts such as good and bad, right and wrong, justice and virtue to all activities of the business. It closely relates to corporate social responsibility, but is much wider in scope. The scope of business ethics lies in two dimensions: 1. Workplace behavior ethics, or the illegal and questionable practices of individual managers, such as wrongful use of resources, mismanagement of contracts and agreements for personal gain, conflict of interests, and the like. 2. Business ethics issues, such as ethical dilemmas when making decisions, dealing with stakeholders, and the like. The primary requirement for managing ethics in the workplace is an understanding that workplace ethics is a continuous and on-going process ingrained to management practices, and not a deliverable defined project. It influences the way the organization functions, and remains independent of profits or product range. • Ethics Policy Irrespective of the dimension of business ethics, the basic requirement for managing ethics in the workplace is to have a strong ethics policy in place that makes the company’s ethics policy transparent...
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...struggle to balance the desire for profit and maximum shareholder return with corporate ethics and social responsibility. Unfortunately, short-term financial bottom line has taken the place of maintaining strong moral character in today’s business practices. In the United States alone, about two-thirds of the top corporations have been guilty of some type of corporate malfeasance. In the face of both damaging and publicly embarrassing litigation, business leaders now recognize the need for sound, straightforward ethics management programs in their companies that makes ethical business practices a top priority at all times. Top executives must lead by example and actively and willingly encourage ethical behavior in their peers as well as employees. The need for stronger ethics in business has prompted business schools to critically examine their business curricula and place greater teaching emphasis on ethics and social responsibility to ensure future generations of new business graduates enter the workforce with the highest moral standards. Keywords: ethics, social responsibility, malfeasance, business schools, business curricula Managing Ethical Decision Making in the Workplace Introduction Ensuring that the necessary steps are taken to create and foster a high level of ethics in the business practices of the workplace is critically important regardless of the size of an organization. A commitment to a strong ethical code in the workplace involves treating stakeholders...
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...Ethics in the Workplace Results of a recent national study provide solid data that leaders who want to establish a practice of positive workplace ethics within their organizations should develop written ethics standards, provide ethics training, and ensure resources are available for employees in need of ethics advice. By Joshua Joseph, Lee Wan Veer, and Ann McFadden Ethics Association executives typically want the answers to two key questions about ethics in their association offices: “How do workplace ethics apply to the practical goals of my organization and the work of my employees?” and “Can you show me reliable data that support your assertions?” In this article, we address those questions as we present findings from the Ethics Resource Center’s 2000 National Business Ethics Survey (2000 NBES) - a rigorous telephone survey of 1,500 U.S. employees - and discuss what these findings mean for association executives. One caveat first - we focus on issues relevant to an association’s internal staff and to ethics programs designed for them, not for association members whose relationships with their organization are often very different from those of staff. In the 2000 NBES, we gathered information on three key elements of an ethics program: written ethics standards, ethics training,and means for employees to get ethics advice (e.g., a telephone help line or ethics office). Ethics Trends Studies show that formal ethics programs are becoming increasingly common...
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...the secrecy in its formula for beverages, and especially coke. This ensures that the person involved in the preparation of the formulae is not aware of all the components and the entire procedure (OECD, 2001). While this has safeguarded the secret of the organization for decades, it has served to be restrictive since other areas, with their own bottling plants cannot perform the same duties. This essentially slows down the production of the drinks over the world. In other areas, however, Coca-Cola has been very straightforward in pointing out the areas of concern where it could be most effective and others that could be detrimental to its success. However, this business model allows there to be instances that allow unethical practices in the staff of the organization. Business Ethics Guideline and Culture for International Companies Business ethics does not only cover the organizations that do business in one country, those that have branches in other countries and regions also need to exercise business ethics in the respective regions they work in. For instance, a multinational organization, such as Barclays will need to perform a high level of ethics in all the countries in which they have branches. As such, the organizations will research and bond with the residents of these countries and attempt to discover any differences between the ethical challenges in their home...
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...BUSINESS ETHICS Student’s Name: Ce Wang Student’s ID: 1226656 Instructor’s Name: Peter Goalby Course Name: New Advances In Business University Of Bedfordshire Date Assignment is due: 20/03/2015 Abstract Business ethics looks at whether the company is heading in the right course by adhering to the various factors such as integrity, fairness and reliability. The ethics set up by the organization plays a vital role in the hiring process and the business management practices. Running an ethical organization is vital in financial matters and in creating the morale and loyalty of the personnel. Ethics are also relevant to the business as it ensures that there is ethical behavior among the workers in the organization. Ethics are also relevant to the business as it aids in creation of an ethical organizational culture. Most of the organizations when posed this question believe that it is the employees who are chiefly responsible for ensuring that their work meet the ethical considerations. However, the employees are not the only ones responsible for business ethics, the employees need support from the management or from the employer. This paper has a look at the ethical issues surrounding the steel manufacturing industry and the Healthcare industry. It also looks at the relevance that ethics have on business, sustainability and corporate responsibility. The paper also looks critically at the connection of business ethics to the organizational culture. Lastly, it...
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...Statement of Values and Code of Ethics for Nonprofit and Philanthropic Organizations This document was drafted by a special taskforce of the INDEPENDENT SECTOR Ethics and Accountability Committee, distributed to IS members for review over a four-month period from October 2003 through January 2004, and approved by the IS Board of Directors on January 29, 2004. It constitutes the Statement of Values and Code of Ethics that IS will use for its own work. In addition, the Board of Directors of IS encourages IS members, and the field as a whole, to use this document in either drafting and adopting your own statement of values and code of ethics or, for those who have already done so, reviewing and revising, as necessary, your statement of values and code of ethics. As stated within, IS believes that each and every organization in the independent sector should have a code of ethics. IS firmly believes that the process by which a code is adopted is as important as the code itself, and that the board and staff should be involved in developing, drafting, adopting, and implementing a statement that fits Covenant Partners’s unique characteristics. Going through this process with the board and staff also begins to infuse into the culture of Covenant Partners a recognition of how important it is to address issues of values and ethics on an ongoing basis. We encourage all organizations to set aside time in your board meeting or at a retreat to discuss in detail all aspects of an ethical code—and...
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...Reporting Practices and Ethics Christine Crumity HCS 405 Module R4 October 10, 2011 Barbara Archer Reporting Practices and Ethics Reporting practices and ethics are the seams of health care accounting and management. It is important that the principles and practices are adhered to in order for the organization to continue operating. Health care is an organization which thrives on care and safety along with stability. It is management’s responsibility to ensure that not only care criteria are met, but financial obligations also. It is important to remember that the health organization not only serves the client, but family also when care, finance, and ethics are at hand. The function of management is to report fairly and accurately on all financial statements and obligations. Management is the key competency when it comes to ensuring that the strength of the organization is strong and all reporting practices are legal. Management will be the obligator to report to not only other management members, but the CEO or Chief Financial officer also. Management has the ability to keep staff stable, knowing that jobs are secure to financial statements or operational costs are not an issue in the health care organization they are currently employed in. If management respect their practices and obligations to report all finances fairly and accurately the organization can continue operating successfully. Management is the leaders in consistent and accurate reporting...
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...Ethics and Business Success Overview Ethics are the principles of right and wrong that are accepted by an individual, a social group, or society as a whole. When it comes to professional ethics, we take into consideration our personal values, family background, culture, education, and religion or philosophy before making important decisions. These factors provide the framework from which we base our decisions and justify our actions. Unfortunately not everything in life is so cut and dry, there often exist many gray areas that can lead to ethical dilemmas, since what one person thinks is the right course of action might not always appeal to everyone else’s ethical sensibilities. For many the words “business” and “ethics” form an oxymoron. We are frequently inundated with reports of ethical misconduct in the business world—misappropriated finances, inflated earnings, labor misconduct, and environmental recklessness are just a few of the many egregious acts to which we have become familiar. In this reading, we will explore the importance of business ethics and closely study how it relates to corporate success. We will take a look at several stellar examples of companies that regularly exhibit high ethical standards. While you read, consider how your personal ethics come into play when you make business and personal decisions that affect others. Codes of Conduct The first step towards implementing ethical business practices is to clarify what types of behaviors a company...
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...Reporting Practices and Ethics Starla Edwards Health Care Financial Accounting/HCS 405 October 17, 2011 Marjorie Romano Reporting Practices and Ethics Financial practices and ethics can play an important part of any organization including the health care environment. In order for the health care organization to be successful one must adopt an efficient financial practice and possess ethical standards. The management of finances for a health care organization may be a challenge for managers. This is why the health care manager will follow four basic elements for financial management. The basic elements include planning, controlling, organizing and directing, and decision making (Baker & Baker, 2011). Health care organizations have accounting principles generally acceptable and will comply with the financial practice and the practice of ethics to avoid fraud or abuse of the reporting practices. Elements of Financial Management Financial management has four basic elements, which assist the manager in making effective decisions for the health care organization. The first element of financial management is planning. The financial manager needs to identify the steps that he or she needs to take to accomplish the goals of the organization. However, first the manager must determine what the goal is for the organization and at that time determine what steps to follow to achieve the goal. The next element is controlling; a plan is in place that each area of the organization must...
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...Factors influencing business ethics: Leadership, strategy and performance, individual characteristics, corporate culture and environment Leader is a person who leads the people towards achieving a common goal. Leader can be good or bad, great or small they arise out of the needs and opportunities of a particular time and place. Not all leaders are considered to be perfect in their decision making because each and every decision they make will depend upon the character of person which differ from person to person. Character of a person includes their inborn talents, learned and acquired traits which were imposed upon them by life and experience. Leaders are models and mentors to their followers therefore they follow the path way set by their leaders. In a large organisation the top level managers or CEO are considered to be the executive and supervisory leader. The CEO should have strong commitment towards ethics and ethical conduct and should give a constant leadership in renewing the values of an organisation. They play a key role in creating, maintaining and changing the ethical culture. It is necessary for the leader to set good examples, and follows ethics. One such good leader is JRD Tata who set a good example for his successor and they still follow it. Where there are good leaders there will be good ethical practices in business. Corporate governance: is the set of systems and processes that a company follows to ensure that it is in the best interest of the stake holders...
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...Evaluation of a Business Code of Ethics Evaluation of a Business Code of Ethics Business codes of ethics are written guidelines use by an organization to set the standards for employees and management conduct and behavior ("Businessdictionary.com," 2013). Business code of ethics is important to deal with ethical the rules and principles needed for a successful business. Also known as code of conduct a business code of ethics reflect an organization values, ethics, objective, and responsibilities ensuring corporate responsibility, quality assurance, and customer satisfaction creating excellence, accountability, and transparency. In this paper an explanation and description of some general information concerning Starbucks mission, and ethical system uses with examples of their uses. The essay will also identify how the code of ethics affects employees, managers, and board of directors within the organization. An explanation of the organization need to modify the existing code of ethics and the best method to implement these changes will be discussed. Furthermore, a discussion of the possible reactions from employees, managers, and the effects the code may have on the organization will be provided. Starbucks general information general information, mission statement, and code of ethics Starbucks first opened in 1971 in Seattle historic Pike Place Market owned by three partners Jerry Baldwin, Zev Siegel, and Gordon Bowker. During the first decade,...
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...Name University Course Tutor Date Business Ethics Business Ethics Ethics can be defined as moral guidelines which govern good behavior. Therefore, business ethics is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It is increasingly being applied in businesses to guide their operations. It captures different aspects norms and values that govern the behavior of a business. For instance, it has codes of practices that are increasingly becoming popular. These cover different areas such as corporate social responsibility, environmental policy and actions, rules for personal and corporate integrity, dealings with customers and the supply chain. Business ethics guide how businesses and people should behave in the world of business or commerce. Ethical Theories There are several ethical theories that explain how people and business entities should behave in the society so that their behavior may be considered to be morally good. Some of these theories are briefly explained below in relation to business behavior. Utilitarianism This theory holds that an act can be judged as morally good or bad, right or wrong when it produces amount of pleasure or lack of pain for the greatest number of people (Sadler 9). Business ethics operates under greatest happiness principle. This implies that businesses and their managers need to maximize positive outcomes for the largest number of people...
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...Running Head: Business Ethics Main Title: The Cultural Dimensions of Business Ethic Monroe College Contents Rationale 3 Introduction 3 Some Factors which may Influence Business Ethics 3 How Peoples Action can Affect Business Ethics 4 How Structure Affects Business ethics 4 How Culture, Norms and Laws Affect Business Ethics 5 Unethical Practices and How They May Affect a Business 5 Recommendations 7 Conclusion 8 Sources 10 Rationale The purpose of this paper is to discuss and address cultural aspects of business ethics. It will also examine how these cultural aspects may affect businesses and shape societies view on these organizations. Recommendations will also be made for example, on the aspect of setting companies policy while taking morals and ethical matters into consideration. Introduction Ethics is a huge area of interest, study and debate. According to Dictionary.com, Ethics is a body of moral principles or values governing or distinctive of a particular culture or group. Business ethics can be described as the behavior that a business adheres to in its daily interactions with society .The ethical standards of a business can be examined by looking into the firm’s human rights policy, its regulations of bribery and corruption, and its execution and compliance of its codes of ethics. The ethical standards of business can vary significantly depending on the country it is headquartered in. These standards apply not only...
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...Business Code of Ethics Wal-Mart has been one of the trademark successes of a retail business. We have seen Wal-Mart in any growing community in the United States (U.S.) as well as globally. This paper will discuss the business ethics of Wal-Mart that will cover evaluation and analysis of the problem-solving process used by Wal-Mart together with their decision making–processes. Wal-Mart was founded by Sam Walton on 1962 with the first discount store in Arkansas. Sam Walton saw the potential of retail store and eventually continued the empire of building different stores in the United Sates. Ethics plays a big role in the way Wal-Mart conducts their business. Wal-Mart, as one of the biggest business company in the world today, always believe in the three basic principles - respect for the individual, service to the customers, and strive for excellence. Wal-Mart actively follows the mission and ethical program designed by Sam Walton, the founder of Wal-Mart, values of saving customer’s money so they can live better. The foundation of Wal-Mart lies on every customer, associate, director and supplier. The organization’s focus is to build relationships and to emphasize the value of respect within the company as well as the community and suppliers. Code of ethics is a set guidelines used by any organization to establish an acceptable behavior for the members of the organization to follow. As in the case of Wal-Mart, the mission and basic beliefs of the organization makes them...
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...October 23, 2011 1. Determine the impact of this event on ARC’s “benefits of business ethics” (employee commitment, investor loyalty, customer satisfaction, and bottom line). There was a huge impact on The American Red Cross’s benefits of business ethics concluding all the events that took place in New York, September 11, 2001 and the 2005 Hurricane Katrina that devastated New Orleans. Not only did ARC fail to perform as expected during these disasters, but all of the misconduct that were taking place with the organization were being exposed as well. ARC’s employees including volunteers were not committed to representing the organization and working to continuing the positive reputation that the company started with. Instead the employees and volunteers of ARC were suspected of unethical practices such as lying, stealing funds and other donations that were meant for relief efforts. Stakeholders and other groups associated with the ARC began to lose trust in the organization because of their mismanagement of funds and donations. With ARC’s careless and unethical business practices, investors started to become hesitant to contribute to the organization for fear that contributions would not be used for what it is intended for. Also overtime there were many other non-profit organizations in need of monetary and other forms of donations. With a lack of trust in the ARC, other organizations started to get a lot of the contributions from investors that was once donating to ARC (Ferrell...
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