Values and Ethics: An Evaluation of Personal Management Performance in a Virtual Organization
The Encyclopedia of Business and Finance describes business ethics as the ability and willingness to understand personal values in regard to a company’s decision-making process, determining how personal values and values of others play into the decisions that they make that affect the various stakeholder groups, and how management can use this understanding in day-to-day operations (Haynes).
Ethical business practices can enhance a company by positively affecting the employees through its actions towards its employees, presenting a positive public image that attracts customers and suppliers, and minimizing regulations from government agencies (Haynes). Ethical behavior is the action which follows the standards accepted by the majority of what is perceived as right or wrong (Rumbaugh, 2004). Following the rules can often conflict with ethical values, and breaking the law may not be considered unethical. What are ethical issues? Ethical issues are related to the grey areas between what society views as what is right and what is wrong.
Rosalie Holian (2002) states that decision-making regarding ethical issues involves examining four underlying elements of skills and practices: Judgment, Integrity, Courage, and Humanity. Judgment and integrity are the bases for making decisions. Courage is involved when issues have conflicting or insufficient information. And, humanity emerges as the confidence in the decision making that separates good decisions from satisfactory ones. It is not enough to know what ethical issues are in order for a person to make decisions regarding these issues, one must understand his or her own values in order to develop their decision-making skills.
As an assignment in MGT/521 Management course, the students were asked to complete the Ethics Awareness Inventory (EAI) self-assessment (Williams Institute of Ethics and Business) to help...