MORALITY IN ETHICS OF CORPORATE WORLD
The moral absolutism approach presumes the existence of eternal moral values and principles that are applicable at all times and at all places and circumstances. It considers that the moral quality of the action or behavior lies on the quality of the act itself (which means that something which is right is always right and something which is wrong is always wrong) irrespective of the circumstances that cause the act or the consequences that result from the act.
The corporate world is beginning to understand that ethics are important. With companies like Enron, WorldCom, Martha Stewart Omnicom and Barron’s Bank, executives are becoming increasingly worried whether their corporations are ethical. Scandalous and unethical behavior has become so prevalent in the media that executives have realized the impact of ethical behavior on both themselves and their corporations. Corporate corruption, government investigations and excessive pay packages etc are some examples were corporate have to keep an eye on.The world has become too complex and interconnected to tolerate unethical behavior.
A Good Ethical Approach Can Lead to Profitability
A good ethical approach creates a positive corporate culture that makes customers happy and ultimately makes the company more profitable. “Ethical companies are more efficient.” Ethics is responsible of creating a corporate culture. Clarifying expectations is an important component of management and ethics is no exception. Spending time with their subordinates to verbalize what the company’s ethical expectations are, managers can instill ethical behavior from with the culture itself. In addition to creating an ethical forum, managers should also maintain the ethical quality, in addition to confronting any wrongdoers.
Many of the existing regulations and laws concerning environmental and social issues in our country are lacking. As a result, it is up to the corporate community...