The Lateral Perspective of Corporate Ethics, Essay Example

People in positions of authority and those subordinate to us are expected to work in an ethical manner to fulfill business ethics which reflects business philosophy with the aim of achieving the company’s elemental purposes. The working fraternity in any organization should endeavor the purpose of the company of maximizing the shareholder returns and this is only achievable through observing the organization corporate ethics (Caroselli, 2003). Working in an ethical manner entails respecting the rights as well as the duties of all employees irrespective of their hierarchical positions to facilitate meeting the fiduciary responsibility.

All employees should appreciate the core elements of corporate ethics focusing on the activities of the business that are likely to yield the highest returns to the stakeholders. Employees must be guided by ethics and values which are important elements in the success of their organization (Caroselli, 2003). By so doing, a situation of conflict of interest is avoided as the employees put the interests of their organization in the forefront at the expense of their individual interest. A culture of respect should be promoted among employees at all levels in the organization and this is only possible when the employees agree to work in an ethical manner (James, 2011). To be able to uphold an exceptional high level of ethical standards, it is prudent for the employees to learnto get rid of unethical behavior.

Ethical policies should be made explicit to promote ethical mannerism in the workplace. Employees should create awareness of ethical codes application amongst them and take part in training on issues pertaining difficult situations as well as situations that require application of ethical choices (Ruth, 2006). Ethical manners also require establishment of moral principles that help in the determination of core values which play a vital role in guiding the employees in the organization.

Corporate ethics also reefed to as business ethics involves the study and evaluation of decisions made by businesses in compliance with concepts and judgments. Corporate ethics are practical and involve the company’s obligation to stay honest with its customers and the companies role to protect the environment and the rights of employees (Caroselli, 2003). Majority of ethical conflicts usually emanate from differences in interests of the owners of the company and their workers, customers, and the community surrounding the company. Those in positions of authority such as managers must ensure that they balance the ideal with the practical so that they can meet the need of providing a reasonable gain for the shareholder s of the company, maintain safety at work place, and preserve the environment and social issues. Working in an ethical manner will make build the trust of the customers and the subordinate on the management so that the business can flourish at last (Caroselli, 2003).

Business ethic actuary reflects what the philosophy of the business is. A business must portray corporate social responsibility; this implies that a business with ethics must act responsibly to the communities in which it is working/ operating even if it means compromising the profits or other goals. Trading practices require fairness especially financial contracting, sales practices, consultancy services, performance appraisals, internal and external audits and executive condensation which are groups under accounting and finance (Ruth, 2006). In these practices corporate ethics is mandatory for if it lacks then, major financial abuses like misleading financial analysis, fraud of securities, bribery and accounting scandals will prevail.

Authorities and the subordinates’ must operate in ethical manner so that they can be able to meet the needs of the society while creating an environmentally friendly environment for the business to get community approval and support (Ruth, 2006). Concentrating on profitability alone without looking at peoples rights makes the corporate to lack morality. So it is important for business owners and managers to behave ethically so as to lead by example. When those in authority like manages treat employees, customers, and competitors in a fair and honest manner, they create a more ethical workforce they become proud of. Behaving ethically will keep the business integrity intact and make it earn a decent living without compromising the community needs and the business.

Compliance to ethical manners among employees is an important achievement for the success of the organization and this depends on the extent of participation as well as corporation in the entire working fraternity of the organization. All employees have the duty of reporting any behavior that they perceive to be unlawful or unethical (Ruth, 2006). The managers as well as the supervisors are resourceful in addressing issues of compliance in addition to the ethical issues. It is the duty of all employees to make a proactive of ethical codes within their work stations in order to achieve a harmonious working environment.

Entrepreneurs and business owners need to influence the society they are working in so that they may be able to make a sale / perform business. This requires that they relate ethically with the people around them which form the market place. By the employers leading then the employees and all other stakeholders including customers and even the competitors follow in executing their duties and attend to their responsibilities.

Reference

Caroselli, M., (2003).The Business Ethics Activity Book: 50 Exercises for Promoting Integrity at Work. N Y: AMACOM.

James, A., (2011). “Accountant’s Truth”. Business Ethics Quarterly 21 (1):189-193.

Ruth, A., (2006). “Ethics in Countries with Different Cultural Dimensions”. Journal of Business Ethics 69 (3):237 – 247.