Evaluation of Ethics

We have to learn from the mistakes of our past. In looking back in history, we are witnesses to the destructive effects of unethical leadership from companies like Enron, Tyco, WorldCom and various banks. These companies not only brought a mess to their own businesses but to our whole country as well.

So how did this happen? And what can we do?

Well what we have to do is be more ethical. This basically means just doing the right thing.

In a business sense, the notion of ethics is primarily put on the standard of conduct by the individual business workers, not the business as a whole.

This is what went wrong in those companies. The leaders put too much emphasis on being profitable that they undercut many basic fundamentals of business relations.

So where we have to start is with the individual workers. The best way to teach ethics is by being a personal example. It is not as simple as just telling someone what to do. The way individuals handle themselves when dealing with others is aroused from a lifetime of behavior. Human beings are creatures of habit. We must turn this habit into being ethically sound to others.

There are many benefits that occur when individuals understand this true importance of ethics in our world. Bosses who treat their workers with more dignity and respect will only be gifted with individuals who are more loyal, honest and hardworking. Same goes for business relations between companies. If these relationships are improved to acknowledge the significance of ethics then business relations will only become more concrete and successful.

It’s a win-win for everyone when individuals begin treating others the way they want to be treated.

I mean that’s the golden rule after all isn’t it?

We must head into the new year of 2011 with a new profound sense of compassion and moral ethical principles.

Importance of Ethics in Business

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5 Responses to “Evaluation of Ethics”

  1. [...] We have to learn from the mistakes of our past. In looking back in history, we are witnesses to the destructive effects of unethical leadership from companies like Enron, Tyco, WorldCom and various banks. These companies not only brought a mess to their own businesses but to our whole country as well. So how did this happen? And what can we do? Well what we have to do is be more ethical. This basically means just doing the right thing. In a busin … Read More [...]

  2. I cannot but appreciate your concern, same as mine, that those who were to be compassionate turn out to unsettle the mediocre whose knowledge is not perfect. I have taken up as my mission statement to establish IESB – International Ethical Standards Board to correct the situation. I have also taken up educating those within the corporate sector particularly the working class in the local language the concepts and measurement of UNCAC – Chapter II Preventive Measures – please see HACCP of Governance http://wp.me/p18MVb-5i:

    My book in English is now being translated to start with in my mother-tongue Tamil. I thoroughly enjoy doing it myself of a language I had not written in 42 years, for I want the ordinary people to stand up and fight against corruption.

    I am not worried and I am confident of setting up the IESB. You are welcome to join in this endeavour. I appreciate your views in this article and no wonder my good friend JP is greatly appreciative too.

  3. While I agree the pursuit of profit is a big problem in business and can lead to unethical conduct, the underlying cause is greed. Top management wants higher profits to increase stock prices which makes their stock options more valuable and, if they walk away from the company, leads to larger severance packages. This occurred in the Enron, Tyco and WorldCom frauds and has been a driving motivation in the unethical conduct at so many financial institutions.

  4. I would strongly agree that unethical business practices are made primarily because of greed. It really is a shame to see these top officials and leaders of these companies act so disconnected from their working force. Hopefully we can find relief in the future though! A new generation to lead and act in a ethically minded way.

  5. As much as I agree with the exposure of unethical businesses, they are definitely embedded in our society. Some of these corporations have such holds over our economy and the Senate that it would almost be impossible to stop the unacceptable acts. Retailers like Walmart will never stop exploitation of foreign workers, and in some ways it is our own fault.

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