Ethical values are some of the standards and rules used to describe the behavior of the ethical person. This ethical principle incorporates the values and characteristics associated with ethical behavior. The bad and the questionable behavior are examined in the company to allow employees to have some genuine approach towards works. To meet the economic responsibility, the company intends to make an ethical approach (fair by all means). And make a progressive chart to monitor the progress.

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The ethical business practices are not suitable for the small businesses but it is beneficial for the large enterprises and has long term profits and positive results for the business. It also allows organizations to promote a productive work environment. The employees also learn about maintaining their personal and professional life on track.

Here are some of the points, you need to consider for understanding the role of ethical principles in an organization.

Business Ethics:

  • Qualities of Business Ethics: there are six pillars that contribute their role in making any business successful. These are respect, responsibility, trustworthiness, care, and honesty. Each one integrates to form a firm resolution for the company that helps it to achieve its target. It comes as a personal challenge for making the right decision and performs certain duties.
  • Law Abiding: the rules and the regulations determined for the company are taken into consideration for performing the business activities. It is set for all, who are working with the And the rules should be followed the keeping the business on the right track.
  • Excellence: Both internal and external communication should be maintained for executing the business plan. The legal duties must be well prepared or informed for the better execution of the plan. One needs to work on it, as the delivery of the quality works matters a lot for scaling the performance of the business in the market field.
  • Leadership: the manager of the company acts as a role model, thus the position of the head of the department is to help its peers and make an ethical or disciplined environment. The decision-making ability and reasoning skills can allow subordinates to accomplish the task in the designated time.
  • Reputation and Morale: To maintain the morale of the employees, one needs to concern about conducting appraisal programs that can help them to achieve the target of the company and work towards the company’s future goals. For the reputation of the company, one needs to build the pride and the morale of the subordinates and take affirmative actions, if any misconduct behavior has been experienced in a company.
  • Accountability: the executive’s concerns on taking the account of the behavior of the employees, dealers, and various communities (they are dealing with). Setting some standards and executing them to improve the performance of the company.

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