An Informative Report for Owners, Managers and Leaders of Organisations in Emerging Markets
Table of Contents
3.Approach and Methodology5
4.What is Business Ethics?5
5.Why is Business Ethics Important?6
6.The Approach to Business Ethics7
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 individuals within the organisation to function as a team.
My focus is primarily directed to the importance of maintaining a business ethical environment and the approach organisations need to carry out in the 21st century when dealing with its partners, society, communities and customers.
Today, organisations in South Africa not only focus on making money, but consider other aspects that attributes to the success of its corporate vision, values, appropriate behaviour, and strategic models. One of these factors is, “Business Ethics”. The study of business morals, values, principles, and standards conducted on a daily basis. The choice that people make that determines right from wrong, good and bad.
It is important for owners, managers and leaders to have an understanding about ethics. Although financial management and marketing is good to know, I feel it’s better to understand ethics.
Our behaviour, attitude and actions play an important role when dealing with partners, employees, suppliers, customers and community.
Many businesses have failed in the past due to a bad reputation. Not understanding or knowing how to relate. Creating an ethical environment within an organisation is one of the key principles for business success.
This report summarises the important facts of business ethics. It will focus primarily on the importance of maintaining a business ethical environment and the approach organisations need to carry out in the 21st century when dealing with its partners, employees, suppliers, customers and community.
3. Approach and Methodology
This report will provide the factors to understanding business ethics, enabling owners, managers and leaders of organisations to create a better approach when doing business with the outside world.
Research included documents and web content, such as, the history of business ethics by Richard T. De George, organisational behaviour by Amanda Werner, business ethics as published...