What are Ethics?
It is very difficult to interpret the meaning of ethics because everyone has their own way to differentiate right and wrong. The meaning of ethics has changed over several years due to the changes in society and culture. According to the Oxford dictionary, ethics is the moral principle that governs the personal behavior or the conducting of an activity. Ethics in life hold great importance in aspects of personal, social and spiritual development. For more information CLICK HERE.
Importance of ethics in business management
In business management ethical conduct is very important for its growth and development. Now giant companies are giving lots of importance to ethics. Ethical practices make a safe working environment. Every company has a different ethical code of conduct that needs to be understood by every subordinate. Ethical conduct must first be implemented by the top level management. Therefore it is the responsibility of a leader to safeguard their ethical code of conduct.
Ethical qualities of leadership
- The leader needs to be unbiased in his or her approach. They should treat everyone equal.
- Decision made should be in accordance with the overall organizational value.
- Leaders should be fair enough to assign the right task to the right person according to their capabilities.
- Leaders should admit their mistake in order to maintain an ethical code of conduct.
- This will give clarity to employees that everybody is equal in front of rules and regulation of the company.
2. Honesty and Trust
- Leaders in a business organization need to be honest to build trust between subordinates.
- The leader should be capable of telling the right thing irrespective of any condition.
- An honest leader creates a consistent workplace behavior.
- Leaders should not only build trust with subordinates but also with customers.
- Honest assessment and reporting by every subordinate plays a key role in accomplishing a task.
3. Have respect for everyone
- Leaders should listen to their employee attentively.
- They need to value their contribution and reward them accordingly.
- It’s a responsibility of everyone to respect one another to build a good understanding. This will increase productivity.
- Everyone should politely communicate, encourage and help with each other.
4. High value awareness
- Leaders need to recheck their ethical code of conduct regularly.
- Rules, practices, norms and policies are evaluated to check if any violation happened in organizational values.
- Leaders should always lead by example to keep their employees motivated and dedicated to their work.
- Training programmes should be conducted to keep subordinates aware of their ethical and moral values.