Ethics are not only relevant in the corporate world but a vital necessity. A corporate cannot be sustainable without morals & ethics.
A short-sighted person may think of ethics as a bygone attribute that has no place in the world of today. How wrong s/he is ! There are still human beings who reject falsehood & are fighting it everywhere even though they are not powerful.
In the long run, a corrupt corporate will be exposed together with the corrupt persons who worked in it. We have witnessed, many times, the fall of a certain corporate despite pre-judging it as one that can play every trick in the box.
Are values of Ethics relevant in the Corporate World?
Yes it is - e.g. many large corporations / MNC required their staff (including top management) to complete the annual ethical compliance training (either online or class room-based), else the staff is considered of violating the standard business conduct. This program is to ensure every staff acts ethically in all situations so that the corporation is not exposed to unnecessary risk.
Dear All,
Values of Ethics are as much relevant in the corporate world as they are in personal day to day life, for an individual.
Regards,
Agree with all. Indeed the Corporate World is driving national economies and provides essential platform to well being of people worldwide.
Surely degrees of trust are essential between a corporate body its clients, its competitors, its overall environment in order for it to achieve maximum business potential and avoid limiting both existence and growth? Developing and entrenching ethical standards prevents, by and large, the dramatic collaspes of businesses seen recently-or does it?,
Ethics in the business world?
1) The environment-in an unethical environment (state, business, competitiion) are ethics desirable?
2) In a highly competitive environment wouldn't ethics hamstring a company?
3) Isn't it wiser to act ethically when required, unethically when not?
4) ethics has different forms-sexual, trade, customer, client. Which ethics?
Hi Stanley, indeed this is a world of very complex nature where pure definition of Ethics may not cover all the possible scenarios.
Thank you Enna. Indeed, the human nature and world of business is quite complex and heterogeneous in many ways.
I find the formulation of your question intriguing. I think that the short answer is that to the extent that are ethical people (or people who care about ethics/being ethical) in the corporate world, the answer is yes. If not, no. I would suggest that the follow up question is whether or not corporations, i.e. the people who comprise the corporation, promote ethics as significant aspects of all their projects, or not?
Thank you Michael. I do agree and hope that Ethical Principles are fundamental pillars in the Corporate World and beyond.
Maintaining ethical standard is vital to a business corporation. If anything it increases its own public image as a trustworthy organization. And this only increases the sales volume and profit.
I have witnessed large education facilities act throughout with a general lack of ethics-encouraging students to cheat, falsifying qualifications-and yet they survive and prosper. If corrupt institutions (corporate or not) sustain levels of corruption then the environment becomes similarly corrupt. In education (largely my field) standards drop unless outside bodies/authorities demonstrate concern. Emphasis upon money not intellectual and academic achievement radically altered ethical perceptions. Any country with an unethical government will facilitate corporations to act according to the political ethos of that country, not to assume the ethical standing of another country.
Unfortunately, in the first instance, ethical colleges could not compete and failed and in the second ethical standards are determined not only by the political ethos of a state but also by its economic power.
Thank you Michael. Indeed, I will post the question to develop further discussion.
Ethics is a day-by-day component of a human life; so it is valid everywhere. Question is how ethics is defined
Well! "Ethics are the principles and values an individual uses to govern his activities and decisions" Any organization wishes to increase its sales volume while delivering quality products/services to customers, must maintain the highest business ethical standards. However, Good ethics is good business.
Agree Mashala, indeed the business value has many dimensions and at the end it is a customer that will ultimately judge the quality of the product and service received. With regards to Business Corporation itself, the organizational structures and policies are set by Board of Trustees, Partners and Directors and disseminated to each Department level and employee. Subject to individual perceptions and understanding of ethics each individual may somehow represent the set standards in his or her own way. Naturally, within the corporate norms and policies.
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