Essay on Business Ethics
Business Ethics
An Informative Report for Owners, Managers and Leaders of Organisations in Emerging Markets
Table of Contents
1. Executive Summary 3 2. Introduction 4 3. Approach and Methodology 5 4. What is Business Ethics? 5 5. Why is Business Ethics Important? 6 6. The Approach to Business Ethics 7 7. Conclusion 8 8. References 9
1. Executive Summary
There are many factors to consider when a company does business with another. Many global businesses give very little regard to one of the most important aspects. There emphasis is making money and profit.
There is nothing wrong with making money and profit, but the manner in which you make it raises the questions of “Business Ethics.”
Business ethics, not only in South Africa, but all over the world has become a key principle in the global market. Foreign countries no longer look at rational organisational structures, but instead concentrate on emotional values such as staff motivation, behaviour and attitudes.
It is important for owners, managers and leaders to have an understanding about ethics, although financial management and marketing is good to know. Businesses who adopt the characteristics of creating an ethical environment are likely to make decision which promotes social responsibility than profit seeking motives. This can influence other organisations or employees entering the organisation for the first time with unique values that promotes the common good of the business.
South Africa, a developing country is exposed to a global market. Potential partners, investors, new businesses are focus on our communication and relations with the world. Each one of our businesses, whether small or big has a social responsibility to its environment, community and society.
This report provides guidelines to support owners, managers and leaders of organisations to establish moral values, principles and standards, which will address the diversity amongst
An Informative Report for Owners, Managers and Leaders of Organisations in Emerging Markets
Table of Contents
1. Executive Summary 3 2. Introduction 4 3. Approach and Methodology 5 4. What is Business Ethics? 5 5. Why is Business Ethics Important? 6 6. The Approach to Business Ethics 7 7. Conclusion 8 8. References 9
1. Executive Summary
There are many factors to consider when a company does business with another. Many global businesses give very little regard to one of the most important aspects. There emphasis is making money and profit.
There is nothing wrong with making money and profit, but the manner in which you make it raises the questions of “Business Ethics.”
Business ethics, not only in South Africa, but all over the world has become a key principle in the global market. Foreign countries no longer look at rational organisational structures, but instead concentrate on emotional values such as staff motivation, behaviour and attitudes.
It is important for owners, managers and leaders to have an understanding about ethics, although financial management and marketing is good to know. Businesses who adopt the characteristics of creating an ethical environment are likely to make decision which promotes social responsibility than profit seeking motives. This can influence other organisations or employees entering the organisation for the first time with unique values that promotes the common good of the business.
South Africa, a developing country is exposed to a global market. Potential partners, investors, new businesses are focus on our communication and relations with the world. Each one of our businesses, whether small or big has a social responsibility to its environment, community and society.
This report provides guidelines to support owners, managers and leaders of organisations to establish moral values, principles and standards, which will address the diversity amongst
References: 1. Erasmus, B. & Wordsworth, R. 2002. Aspects of ethics in human resources management. Management Today, 18(1):34-38 2. James Fieser, Unknown, Business Ethics, http://www.utm.edu/staff/jfieser/vita/research/Busbook.htm [10 April 2010] 3. Mey, M. 2004. The development of a human resource model that supports the establishment of an ethical organisational culture, Unpublished D. Tech Dissertation, Port Elizabeth: Port Elizabeth Technikon. 4. Rampersad, H. March 2004. The links between Individual and collective learning and ethics. Management Today, 20(2):36-41