Ethics in Management
In todayâ€™s world, managers are sometimes put in situations that can pressure them to make unethical decisions. When managers are unethical, they are being selfish, not caring about being fair to others or their company. According to Richard L. Daft, the author of our business management textbook, the definition of ethics is the moral principals and values that governs the behaviors of a person or group with respect to what is right or wrong. So even if a manager isn't breaking the law, they can still be acting unethical towards their stakeholders. Managers owe all of their stakeholders honesty, good integrity, fairness, communication, a good product, and good services.
The first trait managers owe to their customers ...view middle of the document...
Having good integrity is very important in many aspects and is crucial to your businessâ€™s reputation.
Managers also need to be fair to their stakeholders. Prices need to be fair, salaries need to be fair, also opportunities need to be fair. If your business does not have fair prices, fair pay, and the opportunity to succeed and work through the ranks, your business will not do well. Another struggle for some managers is communication. If a manager does not say if a worker is doing good or bad, how will they know how to work? A manager who gets to know and understand their customers and employees will most likely succeed. Workers will work harder for someone they know and managers will know how deal with each person individually which will make the business run smoothly. Getting to know your customers is important because it shows them that you care about them and not just their money. Customers appreciate that and will be more likely to come back for more business in the future. But being kind and fair is only half of the battle when dealing with your customers. You also need to provide a good product and service to them. You can be as nice as you want to them, if you are not providing a quality product or service you will probably lose their business.
Managers have to have good traits and should be seen as a role model. Without good management, businesses would be all over the place. A code of ethics helps businesses establish general rules for the company, a better quality of products, and treatment of customers and employees. When everything in the business is going good and stakeholders are happy, managers will succeed and so will their business.