The Role of Ethics in Management
The Role of Ethics in Management As responsible adults attempting to carve out our financial existences and storing away funds for what we hope will be a comfortable retirement, we all have to answer the ever-nagging question: "How much money is enough?" In doing so, we are typically also forced to face issues such as the amount of time spent in the workplace rather than at home with our loved ones, as well as trying to differentiate between earning a "good living" and simple greed. We are often told that in order to be truly healthy, we must maintain a balance in our lives. And in order to have that balance, we must draw the proverbial line in the sand, then attempt to achieve our goals without being personally abusive. But what about corporate America? Are there any such moral guidelines set for individuals and boards of directors who oversee our businesses, or have they been left to run rampant, operating as though it is simply not possible to ever make enough money? Should they be accountable for the staggering unemployment figures and loss of investor confidence that have resulted from their actions? Not only do we live in a society that envelops us with constant secular admonitions regardin
The combination of compliance and values drivers creates the need for strategies, which are company specific and can range anywhere from unspoken behaviors to written procedures and policies. 5) Despite the fact the economy is expected to ebb and flow in cyclical patterns, the stock market, which theoretically should have rebounded long before now, has just recently recovered from the post-September 11th lows. It would seem this is one more indicator of how ethics is a much more powerful motivator than the law or its consequences (Liberman, pp. And it isn't just the Investor Class who is concerned, either. And because of this lack of ethics, consumer confidence, and therefore the economy, has diminished to the point that Americans have begun to collectively demand accountability from corporate America and legislators alike. As a result, the Securities and Exchange Commission was created in 1934; one of its primary founding principles being that "companies publicly offering securities. Taken from a Hindu text called the Mahabharata, it reads, "This is the sum of duty: Do not unto others that which would cause you pain if done to you". Anderson was described a highly principled man who "could not be bought with money, power, influence, prestige, or social position". When dealing with the cyanide tampering of Tylenol capsules in the Chicago area in the 1970's, CEO James Burke and his management council elected to recall every box of Tylenol in the United States. Among other actions we should consider, ethics must become a part of college classrooms across the country. A values-based corporate culture is shaped by a clear set of guiding principles for making decisions and prioritizing actions. 1) What, then, are the benefits of being a "values-based" organization? According to Blessing White, Inc.
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Acceptance Essays
