Business Ethics Beyond Theory
Business Ethics Beyond Theory
The case for companies to report on their social activities is a compelling one. A growing body of empirical studies has been conducted to determine what ‘corporate goodness’ really means. Ninety percent of the public interviewed considers ‘ethics and values’ to be "very important" in building a reputation for good corporate citizenship.
On the heels of corporate debacles such as Enron, HIH Insurance, OneTel, and WorldCom, conscientious companies are seeking to restore the nation’s confidence in business leadership through ethics. There were times, in the not so distant past, when morals and business did not go together. In fact many people thought they were opposites – because it was ‘all about the money’...until a lawsuit was filed. Then out comes an ethics policy and the blame is placed on a ‘rogue employee’.
The IPO rush and tech boom has taken a majority of the heat. It was a time when profits outweighed people in terms of value, putting tremendous pressure on executives to create glorified earning reports – at all costs. These same companies failed to realize the adverse reaction these practices had on their brand.
The Rebound
Our business environment is changing. There is no tolerance for an organization that is driven by a "say-do" gap – the difference between what a company is saying (brand market communications) and what they are doing (leadership competence and capability). Forthright positions on values are becoming a top priority in building business relationships and creating trust in company brands. In addition, as businesses become more flexible and make their managerial structures leaner, values policies will be the backbone of the corporate culture. Companies of all sizes are beginning to embrace the communities they interact with, and rethinking corporate responsibility is part of that process. It means changing our basic notions of what motivates us as businesspeople and what our basic corporate goals should be.
Today's business leaders are in a unique position to influence what happens in society for years to come. With this power comes monumental responsibility. We have the power to influence changes that will eliminate economic inequality, environmental degradation, and social injustice – issues that compromise our long term viability. Business leaders must realize their potential to create lasting social change. By accepting an equal balance in decision making, today’s leaders will foster key business considerations - profits, consumer satisfaction, and societal well being.
The Secret Code
It has become painfully clear that some companies ethical behavior, when left to the discipline of its executives, is extremely fragile. Considering that its reputation is one of the most prized assets an organization owns, it’s in the company’s best interest to take every precaution to nurture, guard and protect that precious commodity. This underlines the relevance of a well defined code of conduct and consciously adhering to ethical values. Ethical codes, also known as ethical policies, codes of conduct, or statement of business practices, are management tools for establishing and articulating your company values, responsibilities, obligations, and ethical ambitions. It will provide guidance to employees on how to handle situations which pose a dilemma between alternative right courses of action, or when faced with pressure to consider right and wrong.
Given the changes and complex nature of today’s work environments, no rule book or guide could ever adequately cover all the dilemmas people face in the workplace. Therefore, every employee should be empowered to take leadership in ethical decision making. Employees will follow a strong leader when integrating values into business life. To help trust and values thrive in the organization, leaders will have to live up to them themselves.
Carrying the Baton
A meaningful, written code of conduct helps in creating a high ground for ethical practices, but nothing replaces the leadership of the company’s key executives. Accountability for the ethics and integrity of a company needs to rest on someone’s shoulders – decidedly the CEO. And with that responsibility, the CEO claims any situation that compromises the ethics of the company. Just as a house of cards will surely fall, a house constructed with a strong structural design will endure. Ethics should provide the foundation for the business strategy and the underlying values and management processes.
Business Ethics Beyond Theory - To learn more about this author, visit Patti D. Hill's Website.
Like this article? Share it with your friends
Globalization and technological changes are frequently cited as the revolutions of our time. But there is also a third transformation - that of the rise of civic society and the increase in people making value-driven decisions. As a result, an organization’s honorable reputation has become a key competitive advantage in their struggle to compete in the global marketplace.
The case for companies to report on their social activities is a compelling one. A growing body of empirical studies has been conducted to determine what ‘corporate goodness’ really means. Ninety percent of the public interviewed considers ‘ethics and values’ to be "very important" in building a reputation for good corporate citizenship.
On the heels of corporate debacles such as Enron, HIH Insurance, OneTel, and WorldCom, conscientious companies are seeking to restore the nation’s confidence in business leadership through ethics. There were times, in the not so distant past, when morals and business did not go together. In fact many people thought they were opposites – because it was ‘all about the money’...until a lawsuit was filed. Then out comes an ethics policy and the blame is placed on a ‘rogue employee’.
The IPO rush and tech boom has taken a majority of the heat. It was a time when profits outweighed people in terms of value, putting tremendous pressure on executives to create glorified earning reports – at all costs. These same companies failed to realize the adverse reaction these practices had on their brand.
The Rebound
Our business environment is changing. There is no tolerance for an organization that is driven by a "say-do" gap – the difference between what a company is saying (brand market communications) and what they are doing (leadership competence and capability). Forthright positions on values are becoming a top priority in building business relationships and creating trust in company brands. In addition, as businesses become more flexible and make their managerial structures leaner, values policies will be the backbone of the corporate culture. Companies of all sizes are beginning to embrace the communities they interact with, and rethinking corporate responsibility is part of that process. It means changing our basic notions of what motivates us as businesspeople and what our basic corporate goals should be.
Today's business leaders are in a unique position to influence what happens in society for years to come. With this power comes monumental responsibility. We have the power to influence changes that will eliminate economic inequality, environmental degradation, and social injustice – issues that compromise our long term viability. Business leaders must realize their potential to create lasting social change. By accepting an equal balance in decision making, today’s leaders will foster key business considerations - profits, consumer satisfaction, and societal well being.
The Secret Code
It has become painfully clear that some companies ethical behavior, when left to the discipline of its executives, is extremely fragile. Considering that its reputation is one of the most prized assets an organization owns, it’s in the company’s best interest to take every precaution to nurture, guard and protect that precious commodity. This underlines the relevance of a well defined code of conduct and consciously adhering to ethical values. Ethical codes, also known as ethical policies, codes of conduct, or statement of business practices, are management tools for establishing and articulating your company values, responsibilities, obligations, and ethical ambitions. It will provide guidance to employees on how to handle situations which pose a dilemma between alternative right courses of action, or when faced with pressure to consider right and wrong.
Given the changes and complex nature of today’s work environments, no rule book or guide could ever adequately cover all the dilemmas people face in the workplace. Therefore, every employee should be empowered to take leadership in ethical decision making. Employees will follow a strong leader when integrating values into business life. To help trust and values thrive in the organization, leaders will have to live up to them themselves.
Carrying the Baton
A meaningful, written code of conduct helps in creating a high ground for ethical practices, but nothing replaces the leadership of the company’s key executives. Accountability for the ethics and integrity of a company needs to rest on someone’s shoulders – decidedly the CEO. And with that responsibility, the CEO claims any situation that compromises the ethics of the company. Just as a house of cards will surely fall, a house constructed with a strong structural design will endure. Ethics should provide the foundation for the business strategy and the underlying values and management processes.
Business Ethics Beyond Theory - To learn more about this author, visit Patti D. Hill's Website.
Like this article? Share it with your friends
 | |
 |
No article feedback found. |
| |
Leave Your Feedback |
 | |
| |||
David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
|||
Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
|||
Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
|||
Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
|||
Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
|||
David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
|||
Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
|||
Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
|||
|
To learn more about the Evan Elite Author Program please contact us. | |||
 | |
|  |
Subscribe to Patti's articles
 | |
|
|  |
 | |
|
| |
 | |||||||
|
 | ||
|
||
|
||
 |
||
|
| ||
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
|
|
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"
Click Here To Learn More |
|
|
|
|
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
|
|
|
 3 Networking Skills Press Advertising How to Get a Life 100 Success Tips Warning Signs Checklist |
|
 | ||
 |
Top 50 Social Media Blogs
Top 50 Social Media Blogs | |
 |
Top 50 Raising Capital Blogs
Top Blogs To Watch In 2008 | |
| ||
 | ||||
| ||||
|
| ||||
| ||||
|
|
|
|
|
||||||||||||
|
Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
|
|
|
| ||||||||||
|
| ||||||||||
|
|
||||||||||