The concept of ethics ensures that managers and other business executives do not take advantage of other people as well as stopping them from using natural resources incorrectly just to gain profits. However, even after managers are taught about ethics in business and how they should create strategies which enhance the same ethics, most managers still find themselves in situations which are unethical. These scenarios lead to scandals that often make stakeholders and investors to lose a lot of money (Cadbury, 1987). Furthermore, unethical actions by managers tend to create a situation where natural resources are overexploited to the point where the natural habitats of wild animals and other organisms are at risk. As the population of the world continues to grow and the technologies used for communication are becoming more advanced, it is vital for the concept of ethics to be not only taught but practiced by business executives (Quinn, 1997).
These aspects ensure that each decision that is made by the person can give the individual peace of mind knowing that he or she has made the right choice according to their belief (Garriga & Melé, 2004). However, when a person goes against these basic ethical principles, the decision they make is likely to haunt them. However, when it comes to business ethics, the main concern is the welfare of the stakeholders as well as the investors. In such situations, personal affiliations and principles are not considered. A manager who does not understand the limits of their personal ethical principles can end up in a situation where they cannot make a choice just because the options contradict the concept of business ethics and also the individualistic ethics (Jaques, 2003).
He or she should ensure that every measure or procedure effected follows the protocols that even with reduced profits, the venture will still be ethical. This principle cannot be developed from a manager who does not uphold the same standards. A supervisor that lacks the ethical principles of business is more likely to choose an option which would be simpler to accomplish yet more profitable (Garriga & Melé, 2004). Another example involves a manager of a tourist shop. This manager receives an entire group of tourists from Australia. The loyalty for the business or company is often inspired by the characteristics portrayed by the manager. The proper ethical behavior of the supervisor or manager can become an inspirational trait for the workers and the situation can make them become hard workers so that they can attain the same position that the manager reached (Quinn, 1997).
Understanding personal ethical standards can also make a manager to make sound business decisions. An example is when a manager has to reduce the number of employees. The decision is split between two workers. Regarding ethical principles, companies have to show ethical practices in their business ventures. These ethical practices apply to both the people as well as the natural resources. Thus, despite the fact that companies have to generate profits for their shareholders, the same organizations should uphold ethical principles. Therefore, companies and corporations should not carry out measures which compromise the ethical principles. Likewise, managers should have and also understand their ethical standards. Corporate social responsibility theories: Mapping the territory. Journal of business ethics, 53(1-2), 51-71. Grossmann, J. Management Ethics-Ethical Principles of Managers.
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