Generally speaking, the e stablishment of organizational ethics programs is imperative for ethical relationships with all corporate stakeholders (customers, employees, suppliers, and shareholders). As such, ethics enables an organization to maintain satisfactory relationships with all stakeholders. Also, organizations that have ethical programs often enjoy numerous competitive advantages. These benefits include higher efficiency levels in operations, higher levels of loyalty and commitment from the staff, higher levels of client loyalty and retention, higher levels of viewed product quality, and improved financial performance. Therefore, observing ethics in business is vital as it helps strengthen the relationships between stakeholders in the industry.
How can leaders and their leadership styles impact the ethical practices within an organization?
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Leaders and their leadership styles have a significant impact on the organization conduct and performance. Ethical leadership, more specifically, directs and guides members of the organization towards the objectives and goals, which is advantageous to the firm, its stakeholders, and society. For the most part, leaders who are effective maintain trust and integrity by communicating openly and foster positive relationships with all stakeholders. They also lead by example. When leaders observe ethics and demand that all staff members adhere to all ethical programs in the company, confidence in the enterprise tends to be high. Moreover, competent leaders who behave ethically create a positive work environment for the employees; this thus leads to a higher commitment and minimizes turnover intention. When leaders fail to observe ethics, then productivity, morale, and overall prosperity suffer in the long-run.
How does ethics impact an organization’s overall culture
An enterprise that devotes its resources to establishing procedures and policies that encourage ethical decision making and moral actions develops a positive corporate culture. The morale of employees improves when they feel protected against retaliation for individual beliefs. These policies include equal growth opportunities, anti-discriminatory policies, and open door policies. When the staff feel right about being at work, there is a more favorable overall feeling in the company. This facilitates organizational productivity and loyalty since employees have a positive work environment.
On the other hand, an organization that fails to observe ethics creates a negative corporate culture. As a result, loyalty and commitment to the organization reduce in the stakeholders. This, therefore, reduces the overall productivity of the company. As such, observing ethics is essential as it promotes a positive organizational culture.
How would you describe your approach to business ethics (i.e. what are your principles? What is your guide?)?
Based on what I have learned so far, business ethics primarily entails doing what is morally right. It is paramount for businesses to meet their ethical responsibilities. Every employee in the organization must fulfill these responsibilities. In my view, integrity is the most vital concept in ethics. Those with integrity are guided by principles that influence their behavior and decisions. In addition, those with integrity value other principles namely, respect, honesty, compassion, personal responsibility, as well as dependability. Overall, a business that acts ethically creates positive business results, and it promotes a more productive workplace.
Conclude with a reflection on how the insights you gained from this course might affect the way you view your actions and thoughts in the future.
In conclusion, learning about business ethics will significantly impact my future actions and thoughts. Observing ethics in business is fundamental as it creates a positive organizational culture and it enables a firm to maintain satisfactory relationships with all stakeholders. For this reason, I will strive to engage in ethical decision-making when it comes to business practices. Also, I will avoid unethical business thoughts as unethical business practices can be the downfall of a business. Overall, observing the ethical policies of an organization will be my number one priority in the business environment. Further, I will also speak out against corporations and employees who fail to observe ethics.
