Business Ethics
Business ethics refers to the standards that are used to examine moral and unethical behaviors that arise in the management of a particular enterprise (Dunn, 2014). Ethics encompasses all sectors of business operation, and it is important in creating a positive image that will translate to a higher profit margin. Taking into consideration that the distinction between what is morally right and wrong varies depending on the values of an individual, it is essential for every business to draft a set of ethical code of conduct. The system of conduct should be tailored to the business environment and accepted norms in society.
Integrity as an Ethical Issue
One of the crucial ethical issues that primarily affect the operation of a particular business is integrity. Integrity in the business environment cuts across all sectors of management, and it incorporates other ethical issues that can be used to label the actions of an individual as either ethical or unethical. The moral code of integrity encompasses other issues like honesty, accountability, fairness, loyalty which should be observed by the managers, employees, investors, customers, suppliers, and other external players.
Managerial Integrity
Managerial integrity is a fundamental concept in business ethics since the junior staff mostly emulates what their employers are doing. Leaders have a moral obligation to demonstrate integrity in their interactions with the employees, economic agents and how they handle the resources of the organization. Employers should be impartial in how they deal with issues related to hiring, firing, and promotion at the workplace since it ultimately affects the morale of employees and the sustainability of the business (Ebert, 2017). Leaders should show empathy in how they deal with other stakeholders, but at the same time, integrity should be the central concept that governs such interactions.
Individual Ethics and Integrity
The aspect of individual ethics is also highly dependent on integrity considering it varies depending on the moral norms of the particular party. Employees should demonstrate integrity when handling customers and making sales in the field or at the business premise. Transparency in financial recording, provision of services or products usually results in positive reviews and increased market sales. Workers that have integrity do not accept a bribe, they do not sell counterfeit products, and they do not exaggerate prices to earn abnormal profits. The moral decision to do what is ethical mostly results from a culture that has been part of an individual's lifestyle.
Customer Service and Product Integrity
Customer service and product integrity are essential components that should also be incorporated in the ethical code of conduct of a business. Organizations have a corporate social responsibility towards customers, suppliers, and the local communities. Leadership in business requires one to have excellent social skills and self-awareness to be able to listen to complaints and arising concerns objectively (Goleman, 2004). The perception the public has towards the operations and products of a particular business usually determines the success of a company. Observing integrity in the activities of the business, therefore, ensures that consumer rights are protected, and the market strategies that are developed are of high moral standing.
Conclusion
In conclusion, integrity is an essential aspect of business ethics that affects the operations and the performance of a corporation. Organizations should, therefore, develop an applicable code of ethics and create awareness of what is considered ethical in the particular business. The management has the overall responsibility to ensure strict adherence to the ethical standards, hence creating a culture of integrity which will be the trademark of the business. Adoption of ethical practices will, therefore, result in minimal legal problems, improved reputation, and increased revenue.
References
Dunn, M. G. (2014, April). Meaningful Work: Connecting Business Ethics and Organization Studies. Journal of Business Ethics, 77-90. Retrieved from https://link.springer.com/article/10.1007/s10551-013-1675-5
Ebert, J. R. (2017). Conducting Business Ethically and Responsibly. In Business essentia ((Eighth Canadian ed.) ed.). (Chapter3, Ed.) Toronto: Pearson.
Goleman, D. (2004). What makes a leader? ,. Harvard Business Review, pp. 82(1), 82-91. Retrieved from https://www.thebraudisgroup.com/wp-content/uploads/2016/05/What-Makes-A-Leader-_-1.pdf
