¶ … company having strong ethics across the entire organization, including ethical leadership, training & codes, and an ethical culture. The first and most important thing is that the company needs to have ethical leadership in place. People within organizations take their behavioral cues from the leaders of that organization, and the result of that is that when the leaders are the ethical leaders, the other members of the organization will follow. Thus, it is critical that the leaders set a strong ethical tone, to the point where they probably have to be the most ethical members of the organization. A good example of this would be when Martha Stewart was found guilty of insider trading, her company Omnimedia, faced a decline in its stock price. The concern was not that the company would have trouble succeeding without Stewart for a few months while she did time, but that if her ethical leadership was weak that this might have created a toxic ethical culture in the organization. In other words, Wall Street was worried that there might be bigger problems within the organization just waiting to be discovered. The second element is that there needs to be an ethical code and training on ethics within the company. For a company to have a consistently high standard of ethical behavior, it is necessary that the ethics by which employees need should be clearly stated. This provides a baseline understanding throughout...
Furthermore, it provides some guidance in that employees can always refer back to the ethical code when they need a little bit of guidance to resolve an ethical dilemma. The code should not just be written down, but should be part of the company's training programs so that the ethical standards become part of the organization's DNA.
Jet again this is one of the fundamental lessons of ethics, and that is when the balance of advantage leans too far to one side, unethical advantage occurs (Josephson, 2010). This was a tough lesson to learn for AIG as it was the catalyst of salary limits on the entire investment and financial services industry. Conclusion AIG shows what happens when a company loses track of their core business of service
Therefore, corporations have had to change their viewpoints and start looking at the long-term consequences of their behavior, as well as looking at the bottom line. Businesses also have to be concerned because consumers have also become aware of environmental concerns, and many consumers are demanding earth-friendly products and have shown a willingness to pay more money to competitors who observe environmentally-friendly practices. Interestingly enough, this demand has given rise
The housing market was already strong, but the elimination of practical reasons for validating lender information opened several doors very wide, each with an unpleasant surprise hidden behind it. First, because realtors earn their commissions based on sales and on the relative value of property, they have little incentive to disqualify bad risks of eventual mortgage default. Second, banks became equally unconcerned with the veracity and accuracy of the financial
Ethics in Software and Copyright Infringements in the Balkans The first point one has to look at is the situation in these countries and their position in terms of development as also the size of the potential market. There are a total of eight countries and most of them have been in political turmoil till about ten years ago. These countries are all breakaway portions of other bigger countries, or the
Ethics and Morality -- Ethics and Development The problem of "development" (or, perhaps "progress" and "advancement" also fits in this context) is that while many millions of citizens of the world have been blessed by dramatic progress (technological, industrial, and communications) over the past few decades, many millions are being left behind. Indeed, while millions are living better, living more comfortable lives, countless millions are not benefiting in the least from
Hypothesis Five In the fifth hypothesis of measuring the business ethics levels of Taiwanese ITPs the Null and Alternative Hypotheses are defined as follows: H0: In the ethical climate of independence, the business ethics level of Taiwanese ITP's is high. H1: In the ethical climate of independence, the business ethics level of Taiwanese ITP's is low. Results of Testing Hypothesis Five It has been established in the fourth hypothesis that the greater the ethical climate
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