How to respond to this in 100 words? Ethics and strategic management relates because both weighs heavily on making sound decisions for the business and being held accountable for individual at risk behaviors. One benefit of utilizing ethics in an organization is that it creates a trustworthy environment in which the company has confidence in their employees to do the right thing. Another benefit for utilizing ethics is having high performing employees who have regards for both the business aspect of the company and possessing the responsibility for making solid moral decisions. “Managerial ethics refers to an individual’s responsibility to make business decisions that are legal, honest, moral, and fair” (Parnell, 2017, p. 116). For managers, it is also their moral responsibility to make sure that employees are in compliance with their work obligations and conduct themselves in a professional manner. “As a consequence, management needs to confront the challenge of balancing the competing demands and making trade-offs between economic goals and moral duties” (Zhang & Gowan, 2012). Ethical behavior can be vital to your career and every organization should support ethical behavior. It is important to understand that business ethics can surpass legal issues. “In many cases, however, wrongdoing is done by people who are viewed as good employees, good managers, and even good leaders” (Boatright, 2013). To avoid legal issues within a business, it is important to enforce legal and organizational standards. Ethics programs within an organization reduce the risks of unwanted misconduct. Enforcing ongoing ethics programs is imperative for an organization to implement in order to keep ethical disasters at a minimum. Ethics can also be a very complex topic when ethical workplace investigations are presented. Laws and regulations are set forth by the government to ensure that standards and behaviors are met. Laws and regulations are also put in place to define what is right and wrong within society.
How to respond to this in 100 words?
Ethics and strategic management relates because both weighs heavily on making sound decisions for the business and being held accountable for individual at risk behaviors. One benefit of utilizing ethics in an organization is that it creates a trustworthy environment in which the company has confidence in their employees to do the right thing. Another benefit for utilizing ethics is having high performing employees who have regards for both the business aspect of the company and possessing the responsibility for making solid moral decisions. “Managerial ethics refers to an individual’s responsibility to make business decisions that are legal, honest, moral, and fair” (Parnell, 2017, p. 116). For managers, it is also their moral responsibility to make sure that employees are in compliance with their work obligations and conduct themselves in a professional manner. “As a consequence, management needs to confront the challenge of balancing the competing demands and making trade-offs between economic goals and moral duties” (Zhang & Gowan, 2012). Ethical behavior can be vital to your career and every organization should support ethical behavior.
It is important to understand that
Strategic Management and Ethics are two founding pillars of any organization as they help in decision making and also ease individual accountability. Ethics is known for establishing trust and boosting the confidence among employees to take the correct decisions. Managers often remind employees of their organizational obligations. Therefore, it becomes very important to maintain a balance between business ethics and organizational obligations. It is good for organizations to earn a good amount of profit but it should remain ethical as well.
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