Management of Ethics in Organizations
Statistics have revealed an alarming state of affairs regarding the frequencies of unethical behavior or misconduct in companies. In a recent survey conducted among 1000 companies based in the US, it was discovered that at least 59.8% of company employees have engaged or observed at least two unethical acts in the workplace. This paper analyzes the historical development of ethics in business from the ages of religious paternalism to the modern age of ethical, legal regulations. As many scholars have pointed out, there is a close relationship between ethical leadership and ethical misconduct. Therefore, as will be discussed in this essay, an organization’s management plays a critical role in overseeing the adherence of their workforce to the organization’s code of ethics and code of conduct. Also, a review on the 2007-2008 financial melt-down will bring to light the interplay between ethics and capital market processes. Further, I present a review of the efficiency and importance of company-sponsored volunteer programs in ensuring corporate social responsibility.
Keywords: Ethical behavior, Code of Ethics, Code of Conduct, social responsibility.
Throughout history, many scholars have advanced theories to explain how to strike a balance between the common economic goal of business and the ever-dynamic expectations of the society; ethics have proved to serve this balance. Simp…
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