Organization Ethics - Meaning and its Importance Organization Ethics - Meaning and its Importance An organization is formed when individuals from different backgrounds and varied interests come together on a common platform and work towards predefined goals and objectives. Employees are the assets of an organization and it is essential for them to maintain the decorum and ambience of the workplace.
They are best demonstrated through acts of fairness, compassion, integrity, honor and responsibility.
The key for business owners and executives is ensuring that all employees understand these ethics. One of the best ways to communicate organizational ethics is by training employees on company standards. Uniform Treatment One example of organizational ethics is the uniform treatment of all employees.
Small business owners should treat all employees with the same respect, regardless of their race, Ethics and organization, cultures or lifestyles. Everyone should also have equal chances for promotions. One way to promote uniform treatment in organizations is through sensitivity training.
Some companies hold one-day seminars on various discrimination issues. They then invite outside experts in to discuss these topics. Similarly, small company managers must also avoid favoring one employee over others. This practice may also lead to lawsuits from disgruntled employees.
It is also counterproductive. Social Responsibility Small companies also have an obligation to protect the community. For example, the owner of a small chemical company needs to communicate certain dangers to the community when explosions or other disasters occur.
The owner must also maintain certain safety standards for protecting nearby residents from leaks that affect the water or air quality. There are state and federal laws that protect people from unethical environmental practices.
Business owners who violate these laws may face stiff penalties. They may also be shut down. Financial Ethics Business owners must run clean operations with respect to finances, investing and expanding their companies.
For example, organizations must not bribe state legislators for tax credits or special privileges. Insider trading is also prohibited.
Insider trading is when managers or executives illegally apprise investors or outside parties of privileged information affecting publicly traded stocks, according to the Securities and Exchange Commission. The information helps some investors achieve greater returns on their investments at the expense of others.
Executives in small companies must strive to help all shareholders earn better returns on their money. They must also avoid collusive arrangements with other companies to deliberately harm other competitors.
Considerations A small company's organizational ethics can also include taking care of employees with mental illnesses or substance abuse problems, such as drug and alcohol dependency. Ethical business owners help their employees overcome these types of problems when possible.
They often put them through employee advisor programs, which involves getting them the treatment they need. Employees may have issues that lead to these types of problems. Therefore, they deserve a chance to explain their situations and get the help they need.A business is a productive organization—an organization whose purpose is to create goods and services for sale, usually at a profit.
Business is also an activity. Business ethics can thus be understood as the study of the ethical dimensions of productive organizations and commercial activities. This includes ethical analyses of the.
Jun 28, · Ethics issues and how any organization practices ethics are more important than ever because social media readily exposes issues that might have been swept aside in previous generations.
Importance of business ethics is a broad topic. Business ethics can be denoted as written or unwritten codes of morals and values that governs the company.
Business ethics can be denoted as written or unwritten codes of morals, values, and principles that governs actions and decisions in a company. The importance of ethics in an organization. Words Apr 27th, 12 Pages The term 'ethics' can commonly refer to the rules and principles that define right and wrong conduct of individuals (Robbins, Bergman, Stagg and Coulter, , p).
Organization Ethics refers to the code of conduct of the individuals working in a particular organization. Organization ethics includes various guidelines and principles which decide the way individuals should behave at the workplace.
The Ethics & Compliance Initiative (ECI) is a best practice community of organizations that are committed to creating and sustaining high quality ethics & compliance programs. Membership Member Benefits.