Ethics has no place in Business

Business ethics is the basic understanding that is being perceived by the employees for choosing the
right or wrong. It prescribes the individuals behavior in the organization or the work place. Business
ethics shows the type of behavior that an organization or a business entity should emulate and put more
emphasis on, this shows the in written and unwritten values principles and codes that the organization
should adopt.

It is seen that the markets will not operate without the ethical and moral behavior in the organization.
The aspect of profit maximization for the benefit of the shareholders has become to be termed as an
individualistic and unsustainable model in the business environment. This is because it ignores the
aspect of fairness and justice that should be the basics of t he organization.
To be ethic in business or not means that the organizational corporate structure is able to take
consideration and be aware of the possible consequences of the actions of the firm before they are to
take place, making the reasoned moral judgments about the consequences, and choosing the actions
that are most important to the organizational structure and that can cause less harm to both parties of
the organizational structure. To be able to do this analysis the corporate structure should be able to ask
itself questions such as what is right from wrong, what is or what ought to be, how to be able to get out
from what is ought to be, and what is our motivation.

Therefore, it is basically important for the organization to try to meet the interests of both parties of
the organization. Profit maximization being the major concern of any corporate structure should be
analyzed keenly for the determination of the ethical policies that govern the day to day activities of the
firm.

Five ways to promote ethics in your organization

To fully embed an ethical culture, organisations must improve training, communication and leadership. The
way in which these practices are embedded and implemented is critical to the organisation’s ability to gain
the most from an ethical performance culture.

1. Develop a code, and make ethical performance a strategic priority. A relevant code of ethics, conduct
or similar policy that sets clear objectives, standards and expectations is a key requirement for ethical
performance. A code needs to be supported by a focus on ethical performance in wider decision
making.
2. Set the tone from the top. Senior management teams must show leadership and be seen to live the
organisation’s ethical values. Only once that happens can employees get in step and ensure the whole
organisation lives those values.
3. Engage, communicate and train your staff. Engage staff and other stakeholders such as suppliers,
investors, regulators and consumer communities, through effective and informative communication.
Good, regular and consistent communication and training will help to embed an ethical culture.
4. Provide support routes for staff. Organisations need to develop clear routes for reporting suspected
fraud and violation of company policies on ethical behaviour. Too many organisations are weak in
this regard and must adopt a zero-tolerance approach.
5. Measure effectiveness of your ethics programme. To ensure best practice, organisations need both to
measure their ethical performance and to foster open discussion.