Key Elements of Business Ethics
Some of the basic elements of business
ethics while running a business enterprise are:
Top management has a very important role
to guide the entire organization towards ethical behaviour. The top level
personnel in any organisation should work openly and
stronglycommittedtowardsethicalconducts and guide people working at middle and
low level to follow ethical behaviour.
Generally organisations formulate their
own ethical codes for the conduct of the enterprise; it should followed by the
employees of the organisation. The organisation principles are defined in the
written document called code. The code of conduct covers various areas such as
health and safety in the work place, fair dealing in selling and marketing
activities, ethical practices in the business etc.
To make sure that actual decisions match
with a firm’s ethical standards, suitable mechanism should be established. Any
organisation following ethical codes in training, recruitment, selection etc.,
is sure to be profitable. The organisation must provide for an environment
where the employees are to free to report about the matters of unethical
behaviour.
It is the employees at different levels
who implement ethics policies to make ethical business a reality. Therefore,
their involvement in ethics programmes becomes a must. For example small group
of employees can be formed to discuss the important ethics policies of firms and
examine attitudes of employees towards these policies.
The organisations from time to time keep
a check on ethical practise followed. Although it is difficult to accurately
measure the end results of ethics programmes, the firms can certainly audit to
monitor compliance with ethical standards. The top management team and other
employees should then discuss the results for further course of action.
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