Friday, 25 April 2008

Business Ethics.

Being honest, being correct and having integrity are ethical terms. They represent a principle for the people who are convinced they are right. These concepts represent in fact our moral standards. They can vary from an individual to individual because the values they are based on are different. Ethical issues represent real dilemmas for the managing staff because they stand for conflicts between the economical performance of the company (income-costs-profit) and the social evolution (expressed in terms of personal duties within the organization as well as outside). The origin of these duties can be open to some interpretation, but most of us agree that they include to a certain extent elements related to protecting the loyalty of the employees, to maintaining market competitiveness, providing useful and safe products and services. Fortunately the management dilemma relates to the costs of these obligations both for the company – assessed through financial standards – and for the managers – expressed through financial reports and audits. It is highly desirable for most of the managing staff in various companies to bring in people who have a clear vision of what means ‘honest’, “correct” and “integrity”. Thus any employee can be required not to act against the interest of the firm, not to offend other people and not to disclose any negative aspects about that particular company.

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