Business ethics refers to the standards, rules, and moral values that govern the running of business activities. More precisely business ethics refers to the accepted practices within a business organization which define the ways in which the people within the business should behave so as to enhance their co-existence within the business. Business ethics is very important in the sense that it ensures that all the members within the business adopt the living styles and behaviors which will enhance the accommodation of all the parties during the running of the firm.
Further, business ethics guidelines are contained within a document referred to as the code of ethics or conduct for a business. The development of the business standards and procedures is of crucial importance to business management; as it is helpful in regulating and controlling the activities and practices which all the other members within the parties within the business should adhere to. Further, there are various ethical principles that the business should adhere to while devising a code of ethics; in order to cover all the aspects of co-existence within the business organization (Ferrell & Fraedrich, 2009).
One of the standards is that we will express honesty in all our dealings. This is to mean that we will neither say fictitious things utterances that will mislead others during the running of the company. Additionally, we will be free to share any useful information that is capable of helping to boost our company to higher heights in terms of performance. Generally speaking, we will further establish candid relationships among ourselves as well as expressing the highest degree of honesty possible.
Further, we will keep a very high level of integrity during the dealings with our clients. This is to means that we will hold up to our professional standards while dealing with our clients, a move that will help enhance effectiveness and efficiency within the company. This upholding of professionalism in our dealings will further apply to all situations including the cases the company is confronted with various challenges like social difficulties and cases of economic crisis among others. In general, we will exercise integrity in all the activities that we will be undertaking pertaining to the running of the company.
Further, we will be compassionate to each other as well as to our clients. This is to means that we will understand each other’s needs and act towards helping in all the situations needing assistance. More precisely we will ensure and maintain responsiveness to the needs of others in the effort towards taking the required steps in helping where the need arises. Under this consideration, harming other people should thus be minimized as much as possible so as to ensure consistency and coherence in carrying out the respective responsibilities for each individual. Based on the principle discussed we will express a high degree of social responsibility within the running of the company.
Additionally, we will express fairness in all our dealings. This is to means that in the making of decisions and judgments we will follow the right processes and procedures that will yield an outcome worth a credit from any other reasonable source of information. Under this consideration; we will practice justice in all judgments and dealings so as to acquire a good reputation within the company; which will help propel the company to greater heights of performance.
Another guiding principle is that we will have respect for ourselves and others. This is to mean that we will honor and credit the abilities and contributions of others as well as those from our members. Under this consideration, we will not withhold information amongst each other; towards ensuring that we maintain an open straight communication system within the company. Under this consideration, all parties will be entitled to freely express their ideas and the possible strategies that are helpful in developing the company across all dealings.
The other guideline is that we will ensure trustworthiness and the ability to keep our promises; under which we will strive to keep our commitments under all circumstances. This is to means that we will avoid making promises that can not be kept or commitments for the company; unless we are compelled to do so by the authorities in charge.
For all the employees to be able to comply with the above-stated code of ethics, a training program for employees is necessary. This training program will be helpful in that it will enhance a proper instilling of the values that the company has incorporated under the code of ethics.
Further, seminars should be organized for ‘first-time employees’ so that they can be taught the expected code of conduct which should be adhered to within the company. These seminars will be conducted by the company managers and other top officials, who will in the process, teach all the employees about the code of ethics to be observed during the running of the company. Additionally, this practice will ensure that the employees are equipped with the tools that will govern them during the various activities within the company in enhancing a high degree of coherence and co-existence.
Through practical scenarios, the employees should learn how to express professionalism through orienting the new employees, who should, in turn, be able to display proficient moves as well. Further, from different split discussions, the employees should learn the various values of coexistence with others and be able to develop self-driven prospects in giving and taking orders in various ways. This is to means that the employees are expected to be enthusiastic in learning what is expected of them from a personal initiative; which in this case will enhance their being responsible in carrying out the company’s activities (Ferrell & Fraedrich, 2009).
Posters and other publications displaying the code of ethics for the company should be placed at central places within the company premises. This will further help in clarifying any misunderstood concepts while the employees will be taught such ethics through seminars. However, these posters through which the company’s code of ethics is portrayed should be written in the language that all the employees are capable of understanding and interpreting easily without difficulties. This means that the code of ethics should be written in a simple and clear language; so as to ensure that the different parties can follow through.
The company has to develop a well-organized system to monitor, audit, and report any misconduct among the employees. This is the case, as it will enhance the coherence of activities and ensure a comfortable working environment for all the employees. Additionally, this is necessary for helping alleviate any forms of misconduct among the individuals who are expected to adhere to the set rules and regulations.
Another guideline will be that all employees should be made responsible for each other, where any form of misconduct among the employees should be reported to the administration by any employee who notices the case. This is to means that every employee will be entrusted with the responsibility of keeping an eye on their fellow employees, so as to correct any forms of misconduct through reporting these to the management in the case need arises.
The department of discipline and the conduct of employees should be alert through appointing supervisors to monitor the way employees conduct themselves within the company; so that they can report any forms of misconduct among the employees. In this respect, therefore, the department of discipline and conduct of employees should be actively involved in monitoring whether the employees are adhering to the code of ethics set by the management, or not.
Lastly, the company should develop a sophisticated system of monitoring all the employees at their workstations either through the use of CCTV cameras or any other effective technological appliances, which are meant to ensure that the employees are well monitored for any instances of misconduct. In this case, appropriate measures should then be taken against the misbehaving employees within the company.
Another guideline is that the code of ethics should be reviewed over time so as to make it efficient and effective within the organization. This is the case as the social, economic, and technological changes that take place over time necessitate the review of the code of ethics, which will enhance and make employees more comfortable within the company (Kotler, 1980).
The company should also carry out opinion polls to determine whether the code of ethics accommodates all the needs and views of the individuals within the company. This is the case as it will help give a clear indication as to whether the employees are comfortable with the code of ethics and whether their views are considered in making adjustments to the existing code of ethics. Further, the companies should assess the workability of the existing code of ethics with regard to social, economical, and technological changes; thus making any necessary changes to the code of ethics according to the trends of the changes observed.
Generally, the company should ensure that it sets an applicable code of ethics and develop appropriate programs to inform its employees of the code of ethics; then strive at maintaining and improving it in the case need arises. This is meant to ensure that the company should have a well-developed strategy of ensuring its code of ethics is well organized and managed; so as to enhance coherence within the company.
Ferrell, O. & Fraedrich, J. (2009). Business Ethics 2009 Update: Ethical Decision Making and Cases, 7th Ed. Boston: South Western College Publishers.
Kotler, P. (1980). Marketing Management: Analysis Planning and Control. Prentice Hall: Englewood Cliffs Publishers.
Sims, R. (1992). The Challenge of Ethical Behavior in Organizations. London: Rout ledge Press.