Hello Readers, today l want to talk about ethics in business
Do you know that business ethics are more important than ever before in maintaining a sustainable and profitable business? It is no longer acceptable for a business to operate in an entirely self-interested manner, having no regard to the impact it has on the local community. In the modern commercial environment there is a strong emphasis on businesses meeting their compliance and ethical obligations. Trading in an ethical and socially conscious manner will benefit businesses of all sizes on a number of levels.
One of the most important ethical principles behind leadership is commitment. First and foremost, this means a commitment to the well-being and advancement of the organization. This often seems cold and detached, as profits and expansion can eclipse personal emotional needs. However, to avoid contradictions, you must commit, in your capacity as a leader, to sound business practices first. Furthermore, building on a foundation of ethical behaviour helps create long-lasting positive effects for the organization, including the ability to attract and retain highly talented individuals thus, this eliminates complications with conflicts of interest, owing favours to others gossips among staff and your own ego. Putting the business first is actually an effective way to be fair and unbiased in your role while maximizing success.
Secondly, there is a dynamic relationship between integrity and ethics, hence l would say that integrity is rooted in fairness, and even when practiced in difficult situations, it can create long-term benefits for your organization. Integrity means being truthful with everyone involved and doing what you say you are going to do. If you need to let someone go, do it directly rather than harming them and the organization by putting them off. If you need to break bad news to investors, do it immediately rather than risking their hostility and a total collapse of funding when the truth finally emerges. Leading with integrity means your actions match your words and you take full responsibility for your actions.
In conclusion, Ethical Leadership in the organization is a commitment to the well-being and advancement of the organization and the employees. When management is leading an organization in an ethical manner, employees follow in those footsteps, thereby, increasing the productivity and overall employee morale.
The benefits of Business Ethics cannot be over emphasized, it goes beyond employee loyalty and morale or the strength of a management team bond to the profitability of the organization. It is my believe that with consistent ethical behaviour the organization will have more increasing positive public image and important potential investors & shareholders.
Extracts from Sponsored LinkReferred Academic Journalwww.iiste.org & Investopedia
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