Will ethical behavior pay off in long run?

Will honourable behavior gift off in long fountain?Answer I do believe that ethical behavior go out requital off in the long run, however I do non believe it will pay off as much as people expect it to. People want ethical behavior to be far-flung and change the world, simply the truth is that much or less people will never be ethical. Plus, what is ethical to superstar person is unethical to another. It depends all in the way individuals interpret things. So although I think that systematically acting ethical and passing those beliefs down through the generations will pay off, I do not believe it will pay off as much as people want it to. explanation Pearson Custom Publishing (Pearson, 1998-2002) defines ethical motive as the measuring sticks of dole out and righteous judgment. Markula amount of m onenessy for Applied Ethics (1995-1998) defines moral philosophy as those standards that compel one to refrain from committing crimes against another person such as steal ing, murder, assault, slander, and fraud. It is alike the standards that encourage honesty, faithfulness, compassion and loyalty. Ethics is not a religious principle, nor is it based on feelings about a crabbed problem. It terminatenot be defined as a legal practice beca substance ab hold fair plays atomic number 18 created to protect rights, not win ethical principles.While the definition may seem clear, morality as a practice is around ambiguous since interpretation plays a big affair in how people perceive right from wrong. The Markala Center for Applied Ethics (1995-1998) states that in order to go through the meaning of morals we must find answers the hobby questions, According to what standards atomic number 18 these actions right or wrong? What character traits (like honesty, compassion, fairness) atomic number 18 necessary to live a truly human life?Defining ethics is relatively easy compared to practicing ethics in the lap place. Since the primary concern o f or so businesses is the bottom line, the ethical views may differ based on the font of business. Ethical views of employees may also differ from the views of the comp any. This target cause conflict among ca-caers and counselling as companies touch to improve the bottom line. Personal ethics may be compromised in an effort to keep a job.Most Renowned companies like Enron, Satyam, Lehman Brothers, Tyco, Worldcom, Adelphia, Merrill Lynch, Morgan Stanley, Arthur Anderson . Came tumbling down. They were the darling of the masses as well as the bourses. They were seen to be responsible to employees, shareholders, suppliers, customers. All the reputation and trust built over years was wiped off due to unethical practices.For a business to be successful, it need not compromise with mortality. The more than the business does something unethical or illegal the more likely that it will be caught. When ethical purlieu is slimy, organizational performance suffers because of poor grou p dynamics and suppressed communication. In unethical organizations the employee morale is badly affected leaving organizations threatened to setbacks.Sound ethics is necessary precondition of any long term business enterprise. Excellence in business must exist on foundation of values that most of us hold dear. Without a base of shared values, trust and mutual benefits, todays national and international business would fall apart. Basic principles of integrity and fairness can build an enduring reputation.No separate ethical laws are take awayd we already sustain a plethora of laws encompassing every facet of businessThe Factories operateIndian cut back ActSale of Good ActCompanies ActThe Consumer Protection ActThe Indian Forests Act streak of Corruption ActThe Mines and Minerals (Regulation Development Act)Agri gloss Marketing ActPre mittion Drug Marketing ActAccounting ActIn the 21st century in the age of instant noodles and instant information, stakeholders can not be taken for granted and they evaluate the business on the following yardsticksIs the business complying with the law of the land?Does the business gestate a sense of propriety?Do product claims match globe?How forth Coming is the company with information sharingHow does the company handle third party ethicsHow charitable is the company?How does the company react when faced with negative disclosures?Responsible BusinessBusiness should not be considered as a commercial activity aimed at maximizing profit. Profit to be maximized but not at the cost of responsibility to shareholders, suppliers and customers. Business should always take into consideration aspects of human rights and companionable responsibility. Wealth and get laidledge must always be shared with the community as water in village pond unlike water in a private well.Pay Back meterEthical behavior induces further ethical behavior. Employees who are treated ethically will be more likely to behave ethically with customers and b usiness associates. Ethical behavior/ finding do will catch unethical or immoral practices in the long run. Ethical behavior results in confidence, stability of estimation and soundness of position, restful sleep and hassle free life. Energies are freed for maximum productivity, creativity, flow of knowledge, information and ratiocination capabilities. While practicing unethical behavior one has to hold in exhaustive subterfuge, resulting in diminished authority and reduced success.Satisfy your Inner selfBeing ethical is doing the right thing when no one is watchingIntegrity has no need of rules.Real integrity is doing the right thing, knowing that nobodys going to know whether you did it or not-Oprah Winfrey.Most ReversedTatas were among the first families in India to spread their wealth and wisdom for the benefit of humanity, some examplesIn 1998 the Tata Mills failed to pay a dividend. The name Tata was at stake. Sir Jamesedji Tata risked his personal fortune to save a publ ic company, displaying that people mattered to him before profits.In 1924 when Tata Steel was its lowest ebb with no money to pay co-workers, Sir Dorabji Tata risked his entire personal fortune of Rupees One Crore(of that time) which also included his wifes jewelry to get a loan from Imperial Bank of India, for public limited company to save the name of Tatas.One of the guiding principles of JRD Tata was-No success or achievement in material terms is worthwhile unless it serves the needs or interests of the bucolic and its people and is achieved by fair and honest means. Business as a spiritual hobby encapsulates JRDs philosophy and the ethos of the group he symbolized by stating that we (in Tatas) have retained the fire of idealism and in its glow we have come to recognize that no wealth or force-out can be more worthy than our dignity no passing or profit can be more critical than loss of our credibility no skills or qualification can substitute the integrity of our character .ConclusionUtilizing the principles of ethics in the decision making process will help to ensure that decisions make are fair and wish the rights of those parties involved. Unfortunately, ethical decision making is scarce as morally sound as the person making the decision. If the person making the decision is does not live by an ethical code, the decision will be swayed in the direction of that belief. Therefore, in order to stir sound ethical decisions, decision makers must always evaluate their own beliefs and strive to live in an ethical manner and that will definitely pay off in longer run.Referenceshttp//www.sptimes.com/ bran-news/110200/NIE/Treat_others_as_you_w.shtmlhttp//www.powerhomebiz.com/books/ethics101.htmhttp//essaysforstudent.com/tag/ethical%20behaviour/page1.htmlhttp//www.allbusiness.com/buying_exiting_businesses/3503597-1.htmlhttp//en.wikipedia.org/wiki/Ethical_ leadershiphiphttp//www.businessballs.com/ethical_management_leadership.htm7. Fu, Jie, and Joshua Hall . Forthcoming. Fremont General Corporation. In Booms and Busts An Economics Encyclopedia, Mehmet Odekon, editor. New York M.E. Sharpe.8. Morningstar. 2009. Our 2009 CEO of the Year Nominees. Online at http//news.morningstar.com/articlenet/article.aspx?id=269242.Question 2Within the business context business are expected to have good ethical values and act socially responsible. The problem is that the ethics of a business is a mixture of individual sets of ethics. This is why it is grievous to have good individuals as employees. It is also equally important that when you go to work somewhere that you feel like you share the values of those you work with. Ethics is not just talking about the right thing. It is doing what is right in every decision that is made.Based on the above observation discuss the impact on society that ethical leaders can make.American corporations dole out an estimated 15 billion dollars per year on training and consulting for up and coming mangers and leaders . Some target high performers and potential leaders within the organization. Others believe that leadership is more about what you do rather than who you are and, therefore, everyone in the organization is capable of becoming a leader. We have been arguing and writing about the light and practice of management since the early 1900s, and about leadership for at least 2000 years, all in an effort to demystify both. Is management, in fact, a practice, an art, or a science? Are leaders born or made? What do managers actually do? The argument continues.- It is important to have good individuals as your employees but it is also important that those employees should be ethical because only they make the right decision and make others to follow.Some of the theories that tells us about the leadership ethics are organism given to us by some of the philosophers as they are really heplfull they are given downstairs-Heifetzs Theory - leadershiphip involves authority to help followers uphold va lues in the workplace.Burns Theory Emphasizes the moral development of followers and maintains high standards of moral conduct.Greenleafs Theory Strong ethical overtones, true leadership is table service to others.Moral development plays a vital role in building up good ethics.Acc. To stern lockeA new born child is a blank tablet on which life script can be written.Experience and learning shapes the content, structure and direction of a persons life.Examples of Great Ethical LeadersCyrus the Great (590 BC-529 BC)The study of Cyrus the Great and establishment of his ethical Persian empire some 2500 years ago is a good indication that in our time the concept of world order based on ethics, ethical state, peace and harmony among nations are not an impossible goal and illusion. In this century the most fundamental and essential ingredients of an evolution towards these goals are democracy, freedom of expression, freedom of choice, freedom of religion, cultural toleration, human ri ghts, political feedback mechanism, open trade policy, and open communications among people in this globe. The ethics of life are the pursuit of awareness for us and others. The ultimate goal is total awareness. Ethical Government is a means of achieving that goal by raising man to a higher state of total awareness. Ethical leaders can lead men toward Ethical Government and Society, which can lead man to total awareness. To increase mans power is always ethical. However, only men who use power to expand awareness are ethical. Men who use power to diminish awareness are unethical.Business ethics in the fieldAs part of more comprehensive compliance and ethics programs, many companies have formulated internal policies pertaining to the ethical conduct of employees. These policies can be simple exhortations in broad, highly generalized language (typically called a corporate ethics statement), or they can be more detailed policies, containing specific behavioral requirements (typically c alled corporate ethics codes). They are generally meant to identify the companys expectations of workers and to offer guidance on handling some of the more common ethical problems that might arise in the course of doing business. It is hoped that having such a policy will lead to greater ethical awareness, consistency in application, and the avoidance of ethical disasters.An increasing number of companies also require employees to seem seminars regarding business conduct, which often include discussion of the companys policies, specific case studies, and legal requirements. Some companies even require their employees to sign agreements stating that they will abide by the companys rules of conduct.Many companies are assessing the environmental factors that can lead employees to engage in unethical conduct. A competitive business environment may call for unethical behavior. fictionalization has become expected in fields such as trading. An example of this is the issues surrounding t he unethical actions of the Saloman Brothers. non everyone contributes corporate policies that govern ethical conduct. Some claim that ethical problems are better dealt with by depending upon employees to use their own judgment.Others believe that corporate ethics policies are primarily rooted in utilitarian concerns, and that they are mainly to limit the companys legal liability, or to curry public favor by giving the demeanor of being a good corporate citizen. Ideally, the company will avoid a lawsuit because its employees will follow the rules. Should a lawsuit occur, the company can claim that the problem would not have arisen if the employee had only followed the code properly.Sometimes there is disconnection between the companys code of ethics and the companys actual practices. Thus, whether or not such conduct is explicitly sanctioned by management, at worst, this makes the policy duplicitous, and, at best, it is simplely a marketing tool.To be successful, most ethicists w ould suggest that an ethics policy should beGiven the unequivocal support of top management, by both word and example.Explained in writing and orally, with periodic reinforcement.Doable.something employees can both understand and perform.Monitored by top management, with routine inspections for compliance and improvement.Backed up by clearly stated consequences in the case of disobedience.Remain neutral and nonsexist.The effectiveness of ethics officers in the marketplace is not clear. If the appointment is made primarily as a reaction to legislative requirements, one might expect the efficacy to be minimal, at least, over the short term. In part, this is because ethical business practices result from a corporate culture that consistently places value on ethical behavior, a culture and climate that usually emanates from the top of the organization. The mere establishment of a position to oversee ethics will most likely be skimpy to inculcate ethical behavior a more systemic program med with consistent support from general management will be necessary.The foundation for ethical behavior goes well beyond corporate culture and the policies of any given company, for it also depends greatly upon an individuals early moral training, the other institutions that affect an individual, the competitive business environment the company is in and, indeed, society as a whole.The caring leaders focuses on the welfare of Customers Employees Shareholders community of interests Define problems Find out best alternatives Collect informationReligious views on business ethicsThe historical and global importance of religious views on business ethics is sometimes underestimated in standard introductions to business. Particularly in Asia and the Middle East, religious and cultural perspectives have a strong influence on the conduct of business and the creation of business values.Examples includeIslamic banking, associated with the avoidance of charging interest on loans. handed-down Confucian disapproval of the profit-seeking motive.Quaker testimony on fair dealing.