Unification of Modern Business Ethics

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Summary

The increasing internationalization of the world economic process presupposes the unification of the rules within one’s business culture and the norms of international business ethics and the recognition of the criteria of business ethics. To achieve high performance in almost any type of commercial activity, each participant in business communication must have a particular set of information, knowledge, and ideas about the rules, forms, and methods of doing business. Today, entrepreneurial activity is becoming an integral part of the economy and a natural necessity. Unfortunately, very few businessmen still attach the necessary importance to official ethics and business image and often do not even suspect their existence, which ultimately interferes with success and complicates the interaction of partners.

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Moral of Society and Moral of Business

In modern entrepreneurship, the ethical foundations of the business are associated with the concept of responsibility as achieving economic success in ways based on ethical norms of respect for people, society, and the environment (Holy Bible, 2004). A business can be considered obliged to act within the framework of certain moral obligations and comply with all reasonable requirements of the community and groups whose interests are affected by its actions.

Today it is customary to call the ethics of business relations a system of rules based on generally accepted human values and uniting members of one company. As a rule, ethics in business is based on respect for the interests of its employees and the target audience, potential and current partners, and even competitors (Stanwick, & Stanwick, 2016). It is exciting that the main principles of business ethics are reminiscent of the biblical commandments transferred to our century and translated into the language of the modern world. The most crucial role in the code of ethical norms of the business sphere is universal values that help regulate its social responsibility (Berger-Walliser, & Scott, 2018). This item includes taking care of the company’s employees, creating new jobs, providing white wages, health protection, social benefits, and much more.

Economic Success and Ethics

The morality of a society is closely related to folkways. Customs dominate it that the organization recognizes as correct and laws in force in society that impose legal prohibitions and sanctions on many activities that are considered immoral (Sire, 2009). Thus, ethics presupposes the presence of moral people who are able to judge what is right and what is wrong.

Modern ethics is now divided into the following important components: first, everything related to diversity, diversity, this includes issues related to tolerance: tolerance to gender, age, to religion. It is a complete tolerance of accepting that we are all different. The second is a new understanding of aggressiveness and pressure on each other. That is, rethinking the issues of harassment, gaslighting, and other things, revising the relationship between people. Government regulations in many countries have made corporations more flexible in responding to changing social values, spending money on environmental pollution control, and ensuring equal employment opportunities for national minorities and women.

Reputation and ethical attitudes toward clients are gaining more and more weight in the modern world. The presence of women and sexual and ethnic minorities in the leadership team helped the start-up’s share price growth in the first year (Vomberg, Homburg, & Gwinner, 2020). On the one hand, there are only advantages because, regardless of gender, ethnicity, etc., the main thing is the quality of the work performed by the employee. On the other hand, the new ethics can also negatively affect the company’s future since society can demand the support of this or that community, not paying attention to the fact that this does not affect the quality of the products.

Thus, to maintain successful communication between the boss and subordinates and prevent possible damage, the company leader needs to speak the same language with employees, that is, explain and persuade, not coerce. Communication should be based on inspiring motivation, idealized influence, individual consideration, and intellectual stimulation, in which the leader uses a charismatic personality to convey his vision to employees (Stanwick, & Stanwick, 2016). A leader can develop moral strength in a transformational aspect. The ethical authority aims to establish a leader’s long-term vision of how attributes such as personal sacrifice and building trust among employees are shaped to realize the leader’s ethical vision (Steiger, & Henry, 2020). A leader must use perspective to make decisions based on prudence and fairness. Suppose a leader finds it necessary to make changes in the company’s life that not everyone can accept. In that case, he must also be patient and understand that there will always be obstacles to realizing the leader’s ethical vision.

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Compliance by employees of any organization with the norms and rules of business ethics becomes its calling card. In many cases, it determines whether your partner or client will deal with this organization in the future and how effective their relationship will be. A good work environment fosters engagement and motivates you to achieve better. The role of the boss is to create a working environment in which relationships between people are based on honesty and cooperation.

References

Berger-Walliser, G., & Scott, I. (2018). Redefining Corporate Social Responsibility in an era of globalization and regulatory hardening. American Business Law Journal, 55(1), 167–218. Web.

Holy Bible: New living translation. (2004). Wheaton, Ill: Tyndale House Publishers.

Sire, J. W. (2009). The universe next door: A basic worldview catalog. InterVarsity Press.

Stanwick, P., & Stanwick, S. (2016). Understanding business ethics. SAGA.

Steiger, R. L., & Henry, P. J. (2020). LGBT workplace protections as an extension of the protected class framework. Law and Human Behavior, 44(4), 251–265. Web.

Vomberg, A., Homburg, C., & Gwinner, O. (2020). Tolerating and managing failure: An organizational perspective on customer reacquisition management. Journal of Marketing, 84(5), 117–136. Web.

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BusinessEssay. 2022. "Unification of Modern Business Ethics." September 23, 2022. https://business-essay.com/unification-of-modern-business-ethics/.

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BusinessEssay. "Unification of Modern Business Ethics." September 23, 2022. https://business-essay.com/unification-of-modern-business-ethics/.