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Ethical practices in management - Research Paper Example

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Ethical practices in management are incidental to organizational success in the sense that only organizations that practice ethics are successful in fulfilling their vision. Ethical consideration is the key parameter that produces reliable success in organizational endeavors. …
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Ethical practices in management
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"Ethical practices in management"

Ethical practices in management are incidental to organizational success in the sense that only organizations that practice ethics are successful in fulfilling their vision. Ethical consideration is the key parameter that produces reliable success in organizational endeavors. Therefore, ethical consideration is the key parameter that produces reliable success in organizational endeavors. Though unethical practices may seem profitable in the short run, such practices eventually produce future doom and failure for organizations.As a result, ethical consciousness has become a core factor in the life of modern organizations, and managers are now realizing the significance of ethics in management. To underscore the importance of ethics, several models of ethical and moral practice have been incepted that endeavor to guide managers through the entire process of inculcating ethics into the operations of organizations. Ethics have become the image of an organization, because the organization that flouts ethical rules becomes isolated – the public shuns such corporations. The paper evaluates the prevalence of ethical practices in management. Conceivably the most realistic approach to view ethics is as a medium that causes executives to take socially accountable actions. The practice of including ethics as a decisive part of management training started in the 1970s, grew considerably in the 1980s, and is anticipated to continue expanding. Therefore, business ethics is a significant component of business administration (Johnson 11-18). Ethics can be described as the concern for excellent behavior. People feel a responsibility to consider not just their own personal welfare but also that of other people. This is comparable to the principle of the Golden Rule: Do unto others as you would have them do unto you. In commerce, ethics can be delineated as the ability and readiness to consider values in the process of the company's decision-making procedure, to establish how values along with decisions impinge on the different stakeholder groups, and to ascertain how executives can use these principles in routine operations of a corporation. Ethical business managers strive for evenhandedness and integrity in the confines of sound administration practices. Several people ask why ethics is an imperative element of management practice. In essence, it makes compelling business sense for administrators to be ethical. In the absence of ethics, corporations cannot be competitive at either the state or international level. Whereas ethical management practices may not essentially be linked to definite indicators of financial success, there is no inevitable inconsistency between moral practices and the importance a firm attaches to making profit; our organization of competition presumes fundamental values of honesty and just dealing. The employment of moral business practices can improve overall business health in three imperative areas. The primary area is efficiency. The workers of a company are stakeholders who are influenced by management practices (Prakash 59-64). When management considers ethics in its actions in relation to stakeholders, workers can be positively affected. For illustration, a company may decide that corporate ethics require a unique effort to guarantee the health and wellbeing of employees. Many firms have established worker advisory programs to assist employees with family, occupation, monetary or legal problems, intellectual illnesses or compound dependency. These plans can be a spring of enhanced efficiency for a company. A second consideration in which moral management processes can improve corporate health is by Read More
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