Ethical leadership means that individuals behave according to a set of
principles and values that are recognized by the majority as a sound basis for the common good. These include integrity, respect, trust, fairness, transparency, and honesty. The importance of ethical leadership • Improved brand image • Improved staff morale • Improved staff morale • Customer loyalty • Customer loyalty • Improved recruitment • Attracting investment Ethical leadership principles Fairness Accountability Accountability Honesty Equality Respect Traits of ethical leaders Respects everyone equally Open communication Fair mediation Effective stress management Adapts to change Zero tolerance of ethical violations 6 elements that define ethical leadership 1.Honesty 2.Justice Respect Integrity Responsibility Transparency. 7 ways ethical leadership can affect an organization Increased sense of belonging Improved relationships with customers. Respect from society and communities. Support in times of crises Loyal employees Better morale Higher stability on the market Higher motivation. How to improve your ethical leadership skills? Choose ethical business partners. Make your values visible Set desired behaviors and put a control mechanism in place Never ask an employee to act against the agreed rules Never ask an employee to act against the agreed rules Don’t hinder the development of your team members Identify potential “worst case scenarios.” Acknowledge others