Answer to Question #191776 in Management for Jassy

Question

Mini Case No. 6

Needs for Ethics

1. What are some ethical challenges business leaders face? Discuss how business ethics can help them.

2. What is the role of business ethics in improving corporate strategy and community development?

3. Why do you think some companies neglect the pursuance of business ethics in their organizations?

Answer 1

A. Business leaders face ethical issues in accounting, inequality and discrimination, social media and technology privacy. To address these issues leaders should communicate to employees about ethics and reward ethical conduct. Managers should build an ethical culture through policies and leading ethical conduct.

B. Organizational ethics improve productivity and enable companies to be socially responsible. By enforcing honesty and trust the company is able to work effectively, attract investors and build the community.

C. Misunderstanding across different departments can lead to failure in ethics adoption. Companies that experience high competition and those that set unrealistic targets can ignore ethical values. Addittionally, poor organizational policies and control can invite unethical bevahior.