The word “ethics” comes from the Greek word “ethos” meaning conduct, customs or character. Ethics addresses the implementation of concepts such as responsibility, lawful and faulty and the application of correct ideals to practical human activities. Ethical analysis will address the constraints of correct standards and factual requirements and the consequences of actions. The output of such analysis is the determining of principles and protocols, the development of individual and group responsibilities and the verification of the outcome of the implementation of such a framework. Individual countries, cultures and business organisations will settle positive codes of ethical behaviour. Individual organisations therefore need to decide and originate their ethical strategy and the scope of such strategy may include the following:
1. Criminal behaviour and the need to operate within the right framework. The strategy may include awareness training for individuals and teams so that employees understand the lawful constraints on the business and the responsibilities this places on individuals;
2. Human values and personal behaviour. Ethical policy needs to elaborate at a strategic and human resources level how people are expected to behave both internally within the business and also in their interactions with suppliers, customers and competitors and the development of business relationships;
3. Behaviour in business. Ethical policy should address how all corporate activities are undertaken, monitored and verified to ensure that they comply with accurate guidelines and ethical standards. Ethical strategy should also include a review of potential ethical business risks and how these can be mitigated.
So what is your organisation’s ethical strategy and does it stand up to scrutiny?
0 Responses to “What is Business Ethics?”