The Main Principles of Ethical Management

Ethics to be followed by the managers are a basic part of every business. It comprises the moral set of principles and beliefs that are required to be followed or shall affect the employee’s behavior. Ethics does not correlate to law. The managerial acts should include doing the right things to the employees and showing the readiness to go beyond expectations within the managerial ethics borders. There are quite a few responsibilities and obligations to be taken forward by an ethical manager. The business heads should strictly comply with the behavioral principles of business ethics. Managers should fulfill their responsibilities as committed to their customers. Managers should involve in fair trade practices and fair-trade dealing with their suppliers. Fair transactions should be followed between the business and supplier. Managers should promote a clean, ethical corporate culture. Managing relationships with stakeholders is getting difficult for businesses.

Along with making profit the key pursuit of business, the business also has legal, ethical, communal, and eco-friendly responsibilities to be followed. When businesses do not follow ethical responsibilities, the existence of the businesses is threatened. All individuals and businesses must adhere to certain methods of moral ethics and set their value standards for performing correct or incorrect actions. Ethics involves the activities of performing the right actions against not performing the wrong actions. The ethics followed by the managers shall enable individuals to access themselves if their decisions and thoughts are moral.

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Principles of Ethical Management

These are the principles of ethical management.

All employees should be treated respectfully.

All employees should be treated fairly. As a workplace, there shall be employees working with different religious and cultural beliefs. All of their beliefs should be treated impartially.

All employees are required to treat co-employees with due respect.

Managers should be mindful that mutual respect is maintained within the employees. It is not required that all the thoughts and ideas put down be accepted by all employees. However, mutually respecting each other’s opinions is ethical behavior.

Managers should follow fair procedures while executing their business. There can be a control on the procedures to be followed, and changes in procedures can be put forward by the managers, which can be implemented in their business.

Managers should not be neglecting other employees while implementing the procedures.

Managers should be fair to all their employees while implementing the procedures.

Managers should not be favoring any employees while implementing the procedures.

Managers should be transparent while making decisions.

Managers should ensure that that their employees understand and mutually accept the decisions taken by the manager.

Managers should be honest in their behavior towards their employees.

Managers should follow the laws and regulations of the particular jurisdiction the organization is located in.

Benefits of Ethics in Management

The managers as ethics should follow the following behavior framework in management managers as ethics in management should follow the following behavior framework- Honesty, Integrity, Trustworthiness, Fairness, Kindness, Respect, Lawful, Excellence, and Leadership abilities. Benefits are in plenty while managing a business ethically.

Working standards have been developed – Children are not allowed to work anymore.

Societal standards have been developed – The numbers of working hours in a week are defined clearly.

There has been a significant decrease in disputes related to sexism and harassment.

Unfair labor practices have also been significantly decreased.

Ethical management has paved the way for a developing society.

Clear choices can be taken with the code of ethics.

Decision-making during tough times is enabled through ethics followed by the management.

Since no predefined framework is available, commitment to work ethically stimulates a better business place.

Ethics followed with the workers allow them to contribute better to the organization and society.

A sense of obligation is built in the workers by successfully managing the ethics among the employees.

Consistent ethical enforcement results in goal and collaboration development in an organization.

A company gains a positive image in society due to its ethical behavior.

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