Business Ethics and Emotional Intelligence

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The Yale Center for Emotional Intelligence launched a comprehensive study with over 14,500 workers across industries in cooperation with the Faas Foundation to fully explain how Americans perceive the workplace. People reported that the most common experiences they had were rule breaches (29%), lying (27%), and working in an unhealthy atmosphere (27%) (Ivcevic et al., 2020). Such results outline that one in every four employees in the United States experience unethical behavior in the workplace, which is a critical signal to start changing the culture inside organizations and conduct thorough evaluations.

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Emotional intelligence qualities in managers and leaders should be prioritized by organizations and recruiters. Employees who work under managers who are emotionally intelligent are less likely to experience feelings pressured to act unethically and encounter workplace friction. A healthy environment in the workplace not only cultivates a better relationship between staff and management but also significantly decreases the likelihood of employees leaving their positions. Emotional intelligence skills may be a required skill while hiring managers or developed through workforce training provided by the company.

Managers and supervisors should also be aware of their employees’ feelings. Employee input is essential, and being aware of employee frustrations and anxieties might indicate organizational issues. Anonymous monthly surveys can give leadership crucial data on the climate while also assuaging staff fears about sharing their thoughts and concerns. Corporate leaders should be aware of the pitfalls of rationalizing employee input, such as crediting the problems to a minority of demanding staff.

Since the rise of business in the United States during the period of rapid industrialization, the question of business ethics has been a hot topic. During the Great Depression, the United States implemented necessary reforms with limited government interference, such as the Clayton Antitrust Act and the National Industrial Recovery Act (NIRA), which established set and fair corporate procedures (Ginsberg, 2017).

In the area of corporate ethics, the 1960s saw the first big wave of change. While 1960s workers were idealistic, they were also perceived as deficient in ethical norms. As a result, companies have created a variety of purpose statements that outline the rules of behavior and make them more authoritative (Ginsberg, 2017). Furthermore, firms began to take social responsibility more seriously. The corporate principles that had been established in earlier decades were being built upon in the 1970s and 1980s, with an emphasis on improving worker conditions.

The 1990s saw a resurgence of environmental activism, as well as new peaks in CSR and harsher legal consequences for ethical transgressions. Class action lawsuits grew in popularity quickly, and businesses were forced to increase their legal spending. Business ethics has moved to the digital world since the year 2000. Cybersecurity and privacy issues have dominated the big ethical problems of the twenty-first century (Depersio, 2020). Furthermore, in the digital age, it is much easier to hold corporations accountable for their wrongdoings and to smear their name through social media.

Looking back at the progress workforce made in terms of ethical issues, we are quickly moving forward to establishing the majority of healthy environments with strict policies that ensure employee safety. Nevertheless, despite the existence of various laws, policies, and regulations, it is still a significant issue across all industries; yet, a much easier resolvable than 100 years ago, thanks to the internet and law regulations. Unethical companies will continue to exist; however, it is a person’s choice to continue to work there.

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Leaders must understand that they must incorporate accountability into their systems in order for their managers to take responsibility for establishing a diverse and ethical workplace. We frequently see top management say that the company aligns its values with ethics and diversity, but their middle management, who actually runs the company, does not or feel accountable for any of the claims (Tamunomiebi & Ehior, 2019). If I were to have an organization, the matter of ethical issues and diversity would be discussed during interviews and further addressed to the teams. I would continuously encourage everyone to approach managers in case of any problems, as the satisfaction of the workers is the most valuable asset of the company, which cannot tolerate any discrimination or bullying.

The value system of the organization serves as the foundation for ethical practices in the workplace. Many ethics policies are governed by government or regulatory entities’ laws and regulations (Tamunomiebi & Ehior, 2019). Ethics are employed in these jobs to prevent external fraudsters from acting unethically. While no company can control every wrong behavior, ethically-driven businesses strive to do the right thing and avoid unpleasant outcomes. In current circumstances, the violation of ethical issues may result in public reputation distress, lawsuits, and even the company termination, based on the subject. Regardless, mismanagement of the ethical problems causes a significant decrease in productivity and staff satisfaction which consequently leads to the company’s failure in the market.

The problem of diverse workplaces has received a lot of attention in recent years. When diversity is valued, it results in more cohesive teams with improved communication. Companies become more resourceful as they approach problems from many perspectives (Tamunomiebi & Ehior, 2019). When diversity isn’t valued, it has a detrimental influence on the team, becoming an ethical problem. If a person feels bullied or prejudiced against because of his or her background or beliefs – this calls for ethical issues based on discrimination. This not only causes stress and worry in organizations but also contributes to productivity issues, increased conflict, and the possibility of legal action.

References

Bengtson, B. (2020). Reimagine Your Corporate Volunteer Program. Harvard Business Review. Web.

Depersio, G. (2020). How Have Business Ethics Evolved Over Time? Investopedia. Web.

Ginsberg, D. (2017). Evolution of Business Ethics in the US: From Exploitation to Ethics? California Management Review; University of California. Web.

Ivcevic, Z., Menges, J. I., & Miller, A. (2020). How Common Is Unethical Behavior in U.S. Organizations? Harvard Business Review. Web.

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Schoen, E. J. (2017). The 2007–2009 Financial Crisis: An Erosion of Ethics: A Case Study. Journal of Business Ethics, 146(4), 805–830. Web.

Tamunomiebi, M. D., & Ehior, I. E. (2019). Diversity and Ethical Issues in the Organizations. International Journal of Academic Research in Business and Social Sciences, 9(2). Web.

Woo, K., & Woo, K. (2018). Businesses and Community Benefit from Employee Volunteer Projects. SHRM. Web.

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