Ethics in the World
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Ethics refers to the responsible and expected code of conduct and behavior in the world today. In most cases, ethics is similarly used to refer to moral consideration. Ethics cuts across political, social, religious, and social issues in the present world today. Some of the widespread ethical issues in the world today include the treatment of women in the Muslim society, the high increase in the number of poor people in the world today, abortion, death penalty, and issues relating to genetic modification of organisms. These genetic engineering issues have led to shift to the artificial substances unlike in the past where the focus was on natural food substances.
The world today deserves to be led by people of high integrity, institutions have cropped up with integrity issues, public funds abuse, fraud and abuse of office. The most common cases refer to the rape cases relating to high office holders. Leaders are seen taking advantage of their office to solicit for sex from their junior female workers.
Business ethics refers to the moral perspective of doing business. Organizations tend to develop cultures, which uphold the integrity, and this is responsible for the positive growth aspects of the business world. Some of the ethical issues relate to tax compliance for companies, standard of goods, social responsibility issues, and the price and amount goods being supplied by the business to the market today.
The current world of business is infested with scandals, and this is a display of negative reputation of the institutions to the public. Financial institutions are common with fraud cases and charging of high interest rates for clients with the intention of earning high profits. Organizations ought to run businesses ethically for reasons such as to safeguard the company brand and reputation and prevent the clients from shifting loyalty to the competitor companies in the world today.
Business ethics have a great impact on the efficacy and performance of an organization at large. Ethics relate to the professional conduct of employees in a given organization, and in most cases, can either build or destroy the career of workers in an organization. Other factors for consideration in relation to the ethical concerns will involve brand protection, building the trust of the customers, and the most important is to win the confidence of the investors. Most of the investors will like to invest in organizations where there is a high valuation of ethical aspects and this correlate well with the productivity of the capital invested in those organizations.
Globalization and the focus on social media is another source of ethical aspect in the world of business today. With globalization, there are virtual markets for doing business. It requires trust for suppliers to avail goods to the clients once the clients have paid for the clients online. Global markets led to the intensification of competition and this may make some companies to shy away from favorable competition and look for means of making profits. This is in most cases relate to the black market activities. The provision of essential commodities is associated with hoarding of goods with the intention of making high profits when the prices will go up in the future. Some of the organizations are tempted to compromise their working cultures and steal sides and practice in other organizations. Responsible organizations are the ones, which raise the standards of their cultures in an effort to promote the image of the organization.
Stiff and unhealthy competition is a factor responsible for the emergence of shoddy business in the future. Organizations and individuals do compromise ethical standers so as to meet long term objectives in the shortest time possible and this is very common in all corporate organizations. This is because of the pressure to meet unrealistic goals within a short-term duration. For instance, countries such as China and India have been involved in so many scandals as this will see them fall into business scandals (Dower 23).
Pressures will need the top management to come up with strategies for managing pressures and increases in the profitability of the organization. Environmental isles have seen some companies ignore the issue of externalities. This is in relation to environmental issues, which lead to the pollution and failure of the organizations to participate in the environmental clean up issues.
The desire to make supernormal profits makes the companies to venture into black market activities. Professionals are looking to the world of green ethics. This is a world where business solutions are aligned with people thinking green ventures in making blue ventures so as to spare the environment. Corporate cultures are aligned to the realization of realistic goals with clear objectives. When this is in mind, the business organizations will not participate in black market activities. Professionals’ will never look for short cuts to gain unrealistic profits and this is the essence of an ethics cultures in the world today.
Ethical leadership focus on clear communication of organization set of standard and code of behavior in the workplace. This will make workers to strive to conform to the expected code of conduct and promote the interpersonal relations in the organization. When there are clear communication channels in the organization, there are minimal loopholes to commit mistakes, which will hurt the reputation of the organization. This will work to maintain a strong and clear working, ethical, and moral culture among the employees in the organization (Knapp 34).
Corporate social responsibility is one of the measures, which are aimed to promote ethics among the organizations. Business organizations utilize the profits to support community programs so as to promote their reputations in the immediate surrounding and community members. There is a positive correlation between social responsibility and profitability of the companies. This is because organizations build trust with the prospective investors, maintain consumer loyalty and protect the brand of the organization in a long time span.
Good working conditions and fair organizational practices will reduce workers turn out from a given organization. Fair and reasonable compensation and valuation of employees will contribute to the growth of the organization. The employees will feel appreciated when the organization policy is considerate of their views and basic working conditions are maintained in the organization. Keeping of safe working conditions will see issues like forced labor, working for long hours, discrimination and harassment workers do not play into the organization scenes. Safeguarding the interest of employees will ensure high standards of working in an organization and this will increase productivity in the organization (Zalot 67).
Issues such as bribery, fraud exploitation, and unfair remuneration of workers represent the present day unethical practices for most business organizations. Some organizations are tempted to compromise their standards due to stiff competition in the world today. It is seen for some organizations to engage in black market activities so as to make profits and supply low quality goods while charging high prices for the goods. In order to deal with the ethical issues, customers’ compliance and safety regulations need to be put in place in all organizations. Organizations, which do participate in corporate responsibilities, are more likely to boost their reputation and their brands in the market as compared with the organization whose sole objective is to make profits at the expense of social concerns.
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