Ethic refers
to the guiding principle that helps the individual to differentiate
between what is good or bad. These are the values and belief that
leads to good human conduct. It influence people to make
appropriate decisions and lead their life accordingly.
Ethic
culture is very important in business environment. It is
very essential to make a right kind of environment at work place
and do the right things. Managers play important role in
determining whether the employees are living by the company's
values and expectation.
It is very important for the organization to create a culture
that supports ethical conduct and decision-making. This can be done
by following key elements:-
- Ethic should be made the part of workplace culture.
- Guiding principle should be clear and a proper framework should
be made to evaluate the ethical actions.
- Employees who behave ethically should be selected, trained and
organization should focus on retaining those employees.
- Ethical behavior should be considered important and should be
included in business and performance review.
- Organization should focus on increasing moral sensitivity of
different business perspectives like stakeholders reports, open
discussions etc.
- Desired behavior should be made keeping in mind the consequence
and its occurrence should be measured on a regular basis.
- Organization structure and resource should focus on monitoring
or being committed to ethical environment. Example- By providing
regular coaching and feedback, training sessions, performance
review etc.
- External review is also important.
- Set of criteria should be made to evaluate own actions.
- It is important for the organization to encourage all its
employees to discuss, help and support each other and increase
awareness to the ethical issues in decision-making.
The three ethical theories are: -
- Metaethics
- The origin and explanation of individual ethical principles are
included in metaethics. This theory takes into account the
universal truth, what the ethical terms means, different reasons to
ethical decisions and the will of God.
- Normative
ethics - This is the practical theory of ethics where the
moral standard helps in differentiating right and wrong. This
theory includes virtue theories, duty theories and consequentialist
theories.
- Virtue theory refers to the good habits of an
individual that influence the choice between right and wrong.
- Duty theory refers to the ethical duties
performed by an individual.
- Consequentialist theory refers to end result
when an individual make wrong or unacceptable ethical choice.
- Applied
ethics - This refers to the ethical decision that is taken
in everyday life. A person in every part of their day to day life
needs to make decision based on his or her ethics that is as per
the moral values and societal expectations.
So, ethics are determined by by an individual as well as
group.