The world is like a huge, open playfield. It is so broad that there is quite literally, very few sets of rules that can control every sector sensibly and in equal measure. Morals and ethics are vital requirements in the business world as every individual faces ethical and moral issues daily. Different people respond to these matters differently as each of them has different sets of morals. The corporate world hires different individuals to offer various skills or expertise for instance investors or employees. The business community has policies and regulations which are typically included in the contracts, and such rules see to ensure that the quality of moral and ethical responsibilities is upheld.
In the corporate world, the rules tend to shift quite often, based on the individual interests of the parties involved. What is surprising though, is the fact that the rules usually change without any respect as to whether they change for the better, or worse. It usually calls for the establishment and observation of a set of both written and unwritten ethical codes to crack it and to ensure normalcy is upheld therein. The corporate world, therefore, acknowledges discipline as a vital asset in the society as it boosts the trust, value, and dignity of every individual and thus ensures that all the activities they engage in are essential and ethical. Ethics and morality in the corporate world, therefore, acts as a guide to all individuals boost their credibility which ensures they render accurate and efficient services in business. The effectiveness of these morals and ethics ensure that no interests conflict in the corporate world and this results in increased productivity.
The principle of ethics and morality
The principle of ethics and morality in the corporate world is highly applicable to a company. A company constitutes an organizational setup whereby different members of staff take part in different activities which all sum up to increased productivity and profitability of the entity. Managers are in a better position to influence its application as the leaders have all the authority to apply any styles towards the employees to ensure no hazards as a result of poor skill management. To a great extent, management is in itself a special skill and a delicate balancing act too. When training to join the business world, the trainees are taught moral values, and the training officers always lead by example as every individual should remain responsible for their actions each time they offer any service in the corporate world.
Credibility and Management
If the management is effective, the organization’s credibility increases and thus creates a good image of the firm and also ensures that the business is loyal to its target clients and markets. According to Carroll & Buchholtz (2014), the corporate world vastly recognizes the value of professional and personal morals and ethics as they play a primary role which is promoting the significance of morality when interacting with other stakeholders. To sustain a productive corporate world, the business leadership should be efficient and aggressive which in turn leads the stakeholders towards an upward trend, which indicates an improvement in the investments and assets of the company. Morality and ethics within the corporate world, therefore, act an objective campaign which bolsters a company’s marketing interest and values.
Impacts of Ethical Leadership
Ethical leadership ensures that the company grows by increasing its revenue status which in turn raise credibility within the corporate world. Effective leadership, therefore, results in positive changes in a business structure and ensures productivity. Ciulla (2014) argues that firms should also respect the rules and regulations as presented by the international or national agencies which act as the regulatory bodies with the aim of creating a harmonious corporate environment that protects the public. Ethics is mutual, not a one-way thing. The respect and responsibility is mutual and there is no such thing as lesser or greater entities when it comes to it.
The considerations of an ethical corporate world are currently adapting to the diversity that is applied to the consumers and employees. In the business community the integrity of every human being is respected, and thus human rights are waived to the stakeholders during the transactions and other activities within the institution. Compliance with the gender, race, ethnicity, educational background, sexual orientation, and age is one of the rules that must be followed within the corporate world to protect individuals from any harassment or discrimination. It is the business world’s primary goal to respect every individual’s rights with efforts to implement and sustain ethical values and morality.
The corporate world believes that it is a firm that influences the productivity and interest through engagement in humanitarian operations to both local and international target markets. To a greater extent, the whole thing simply narrows down to one. This is, the identification of various ways, however small, through which more and more money can be made. According to the moral absolutism approach, ethical principles and values exist and should be applicable in all circumstances and places (Churchland, 2011). The approach argues that the moral quality of every action and behavior depend on the act itself and thus irrespective of the circumstance if an act is right then it remains right and likewise if something is wrong then it is always considered wrong.
The corporate world is currently embracing the significance of ethics and morality, and most major company’s executives are concerned whether their corporations operate on ethical grounds. It is evident from the media that unethical and scandalous behaviors are quite prevalent and has allowed most managers realize the importance of ethics and morality in their corporations. Some of the immoral issues that the executive should focus to solve are excessive pay for packages, investigations from the government and corruption. It is evident that the current world is too complex and interlinked and thus unethical behaviors cannot be tolerated. In this complex quagmire, some voice of reason, as upheld within the tenets of ethics and morality, is essential.
Morality and ethics make up different sides of the same body. As a result, they are inseparable. In the corporate world, without a strict observation of ethics, there is a lot that would go wrong. If a corporation embraces good ethical approaches, the business cultures will establish a definite stand, and this would boost not only profitability but also ensure consumer satisfaction. Ethical companies are considered efficient, and morality is the key thing towards creating and sustaining a corporate culture. Ethics help a company vilify the expectations which are a vital aspect of management. Managers are urged to instill ethical behaviors by maintaining moral quality and confronting those that engage in immoral activities in the corporate world.
- Carroll, A., & Buchholtz, A. (2014). Business and society: Ethics, sustainability, and stakeholder management. Nelson Education.
- Churchland, Patricia Smith (2011). Braintrust: What Neuroscience Tells Us About Morality? Princeton University Press. pp. 7–9. ISBN 978-0-691-13703-2.
- Ciulla, J. B. (Ed.). (2014). Ethics, the heart of leadership. ABC-CLIO