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The ethical component of efficiency - Essay Example

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Good ethics enhances efficiency in all aspects of business management for smooth handling of social and economic issues, which affect the key stakeholders: employer, employee and shareholders. …
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The ethical component of efficiency
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"The ethical component of efficiency"

Download file to see previous pages Business ethics draws several similarities to the normal ethics which is applied in everyday movements. Good ethics forms the basis of good business practices and sustainable profitability (Grifith, 2010). It is an imperative necessity for the deployment and management of not only the staff but the community as well, thus avoids unnecessary conflicts with key stakeholders in the running of a business (Trevino, & Nelson, 2010). In light of this, ethics is very important for business efficiency. Good ethics enables key stakeholders in the running of a business, to be aware of what they are engaging in including the end results of their actions (Shaw, 2010). A company strives from time to time to operate within the parameters set out by its goals, while empowering the workforce in strengthening their efficiencies. In view of this, the conformity to great ethical standards of the workforce can contribute a lot in ensuring that remarkable achievements of organizational goals roll out within the pre-determined timelines and costs (Trevino, & Nelson, 2010).
Judging between good and bad
Grifith (2010) indicated that ethics in managerial work involves the behavior of the officials in an attempt to decide on what is proper and what is improper for the organization. Sometimes several factors may lead a manager to implement unethical behavior. However, the right individual is he who, regardless of eminent ethical dilemmas, evaluates how various scenarios would unfold and makes separation between what would result in efficiency and what would be unproductive. Ethical components of efficiency enable a decision maker to muster confidence to face supervisors and other senior officers while enhancing integrity (Trevino, & Nelson, 2010). This basically means being relentless in acting right even when one is not under strict supervision. According to Shaw (2010) the end result would translate into higher efficiency as minimal resources need to be deployed to achieve the business goals. Organizations also have obligations such as creating proper job designs. After the creation of jobs and the human resources are deployed, equitable reward and promotion mechanisms are imperative issues that need implementation so as to guarantee the organization of overall efficiency (Trevino, & Nelson, 2010). Shaw (2010) indicated that the proper implementation of these systems enables the human resources to develop feelings of optimism, and pleasure in work. In case a company fails to acknowledge the skills and dedication of the workforce, the end result may give the workers a reason for adopting an unethical conduct. Employees deserve equal treatment, however. If they are handled with decorum and in a fair way, they tend to act in support of management policies and practices (Trevino & Nelson (2010). Any act of inappropriate treatment may easily inculcate unethical conduct, which eventually waters down efficiency. Reining in unethical managers On their part, Dierkes and Zimmerman (1994) averred that it is the duty of top managers to take it upon themselves and act to correct managerial decisions that are deemed as inappropriate as far as enlisting and disciplining of the human resources are concerned. This is because managers may sometimes disregard ethical considerations when they act on behalf of ...Download file to see next pagesRead More
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