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The Role of Ethics in 21st Century Organizations - Research Paper Example

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In this paper “The Role of Ethics in 21st Century Organizations” the conception of ethics and its importance in the global financial market has been taken into concern. In addition, a fundamental analysis of ethics in the 21st century is also elaborately discussed in this paper…
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The Role of Ethics in 21st Century Organizations
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Download file to see previous pages The other significant role of ethics in the 21st century is that it is often regarded as “values-based culture”. Furthermore, it has also been identified that ethics in the 21st century is neither a comfort nor an alternative. The primary duty of this century is generating and encouraging the “values-based culture” so that the organizations can greatly focus upon the ethical values and ultimately enhance their quality standard of business operations. Fundamentally, there are several key factors that should be considered while generating a “values-based culture”. The several main factors include collective core values such as honesty and respect, common language and moral courage among others (Brimmer, 2007). Another important role of ethics in the 21st century is that ethics is considered as a management control procedure and plays a critical part towards enhancing the business communities’ along with the society’s welfare. The business organizations of the 21st century realized that as the business trade and commerce policy and procedure became more difficult, there lays an utmost need of preserving ethics in order to sustain within the global financial market (Sims, 1991). With due consideration to the fact that the different roles and duties of ethics in the 21st century are immense, as a result, various significant advantages of managing ethics in the workplace can be apparently noted. One of the major benefits of managing ethics is that proper attention towards the particular conception of ethics substantially enhances the welfare and development pace within the society. The introduction of anti-trust regulations, government agencies and numerous establishments of laws, as well as regulations as measures of ethical concern, also tend to benefit the business organizations from managing ethics in the workplace (Thompson, 1991). ...Download file to see next pagesRead More
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