ETHICS & UNETHICS IN MANAGEMENT

The Importance of Ethics in Finance Whether your company hires an outside financial manager or manages its finances in house, ethical considerations are both necessary and expedient. Finance is the process of managing money and maintaining a set of books that provides insights on how your company earns and spends its cash. Attending to this process with honesty and integrity allows you to present your financial situation accurately, both internally and externally. Your financial reports represent your profit and loss, net worth and cash flow situation. When you use them to understand and improve operations, it is an ethical imperative to present this information in ways that are clear and honest. Whether you are assessing efficiency and profitability or evaluating whether it makes sense to invest in future growth, approaching these documents with a sound moral compass helps you to provide the people who review them with the information they need to make the best possible decisions. Bus

 What is Ethics in Workplace? Ethics in the workplace is defined as the moral code that guides the behavior of employees with respect to what is right and wrong in regard to conduct and decision making. Ethical decision making in the workplace takes into account the individual employee’s best interest and also takes into account the best interest of those impacted. The latter of the definition is often where individual employees struggle to act ethically. Furthermore, ethical behavior doesn’t only apply to individual employees, the organization itself should exemplify standards of ethical conduct. What is unethical behaviour?     Unethical behaviour is behaviour that is contrary to our own moral principles as well as the principles admired in the community we live in. “Ethics’ refers to ethos and in in its original meaning in the Greek tradition had to do with “character”.to be unethical in ones behaviour means that one is betraying one’s inner character  and eventually experiencing  a

          ETHICS Ethics can be simply defined as the principles of rightful conduct, which are responsible for shaping up people’s decisions as well as those of organizations. All sectors of governance and operation are required to incorporate ethics in their system in order to be successful. As such, ethical behaviour is applicable in the health, businesses, political, and social sectors, among the others. In marketing, ethical behaviour is applied by ensuring fairness when making moral marketing decisions (Hunt and Vitell 12). Ethical behaviour does not only create a good image of the organization in the society, but also fosters trust in the marketing systems, hence attracting more customers, which is the main objective in marketing. Several demerits could come about because of failure to apply ethical behaviour in marketing. For instance, organizations could be pressed by the government and the society with regard to their unethical behaviour. Since this could significantly affect