Good ethics in the workplace

This essay discusses previous workplace ethical conundrums where unethical behavior was not readily obvious, as it is in most workplaces. Many unethical practices that are common in businesses have been discussed, along with wonderful concepts and understanding about how to handle both individual and organizational behaviors. In addition, the article reviews the literature and makes an effort to paint a picture of the current state of the corporate world. The topic covers personal, social, and organizational effects along with knowledge gaps and barriers to effectiveness. It will also pay particular attention to how misusing diversity and discrimination has affected our businesses. Summarily, the essay has emphasized the benefits of incorporating voluntary programs to help improve our productivity and profits in the firms.

Unethical Behavior at Workplace

Unethical behavior is a conduct that is against what is required of a morally upright person, profession or business. In the work place, it is referred to as an action that does not confide with the rules and regulations established by the organization. It can arise in the way the employees relate or how the employer runs the business.

The most common forms of unethical behavior in the work place include:

Misuse of time

where coworkers may decide to cover up for a late comer to the office or through making calls to their spouses, family and their personal businesses during working hours.

Employee theft

where those who are responsible for procurement or account office may decide to manipulate records of sales or expenses to earn individual benefits. It may lead to huge loses to the company as the money that should be allocated for company expenses is diverted to individuals.

Abusive behavior

is another form where leaders in high positions or power may tend to mistreat their juniors. The abusive behavior form revolves around gender, race and ethical origin of the people involved.

Lying to employees

When the employer lies to the employees in the organization, then trust virtue is lost leading to unethical behavior. In work places where there is no trust then people tend underperform in their allocated tasks.

Violating of the company’s internet

where some workers may tend to surf internet through face book or twitter during working hours. It may lead to the company spending more resources than it should to meet its goals hence translating to huge loses in the company.

The leadership in the organization can help minimize unethical conduct by:

Keeping the promises they have for the employees

initiating open communication, ensuring that employees have all the information needed to facilitate good performance in the work and supporting those who uphold the standards of ethics.

In the organizations where leaders act less on the minimization of the unethical behavior, then there will be little or no significant change.

How businesses have Evolved to be more Ethical Today

In the business today, there is progress in the ethical behavior compared to the historical days as people now seem to care more about their social influence to protect their companies brand or reputation. Business ethics involves moral behavior for the professionals. The factors that leads to evolved businesses ethic include: protecting the brand, globalization, establishing the customers trust and the winning investors’ confidence.

When a company has good morals and keeps promises, investors will then have peace of mind about their money being used in the right way hence winning their confidence. While in the aim of establishing customers trust, you should observe the ethical behavior and corporate social responsibility which can translate to attracting customers to the products hence boosting sales and benefits of a company.

Protecting company’s brand is an important factor as its ethical conducts defines whether the firm risk being poorly behaved and likely to breach the laws concerning the behavior. Reputation also is considered, as once lost it is difficult to rebuild it and therefore organizations are encouraged to keep the promises and observe ethical conducts to maintain a good brand for the firm. In globalization, businessescan be increased through social influence spreading in a wide range in the world. If a firm is known to have good morals and social ethics then, it is likely that clients may be attracted to buy their products thus increasing demand. This will therefore lead to expansion of the business to new areas making the firm to go global.

Financial Meltdown in the 2007-2008 due to Failure of Capital Market Processes

Capital market processes is where long-term debts securities are bought or sold to investors. In the years 2007-2008, the financial crisis was as a result of failure of capital market processes. There were policies that encouraged home ownership, easier access of loans by subprime and overvaluation of bundled loans.

The crisis started with the subprime mortgage marketin 2007 which was expanded by low interest, lax regulation, and security and implicit guaranteed by the government which created moral hazard leading to risky lending. It then developed to international banking with investment bank lehman brothers collapsing in 2008.The collapse was as a result of excessive risk taking which in turn helped in expanding financial impact.High rate of mortgage approval attracted large number of interested buyers thus the house prices went up which then resulted to those in subprime borrowing against the houses. The high rates caused rapid depreciation of financial institutions as the value of the assets went up and the buyers reduced while the banks involved started to have insufficient funds.

Bail-outs by national government were employed to financial institutions to help prevent the collapse of world financial sectors which saw the stock market to un-ending fall. The crisis caused failure in major businesses, decline in wealth consumer and deterioration in the economy.

Diversity and Discrimination at Workplace

Diversity involves gender, race, ethnic groups, age, personality and education among others. It entails individuals or other peoples’ perception leading to the way of interaction. Employees would work effectively as a firm, if the leaders promote factors such as communication, adaptability and changes. An organization will progress due to its ability to recognize diversity and its benefits. The adaptability factor entails having different people with various talents and experiences endorsed in the plans for coping with the fluctuating market and clients demand. A diverse people with many skills gives a company high chance to be global as different languages, culture and ideas are involved. When communication as a factor is employed to a diverse people in a firm, then different ideas will be drawn from the pool to help in addressing the company’s needs.

Discrimination means being treated unequal to others due to race, age, ethnic group among others. In work places, employment laws should be enforced to ensure fair hiring, firing, demoting and promotion based on judgment that treats all employees fairly. It causes damage to one’s self-esteem and can tarnish company’s reputation due to risks of lawsuits and fines.

The impact on a firm as a result of mismanaging the above issues may occur due to differences in age, ethnicity, religion or any other individual traits that results to negative effects in production. Example, in a company that diversifies with time without a strategy enhances discrimination between the manager and the subordinate staff or between the employees. It is likely for discrimination to be found in a firm with diverse work force due to different traits among the people. An organization which has different individual traits can offer wide range of ideas, skills and energies thus improving production and causing high competition in the market. Such a working environment will be of benefit to the employees as they will have a better appreciation and respect for the difference. Contrasting views are encouraged leading to improved working team and success, higher staff morale, better delivery standards since the workers are motivated and also be strengthened to progress well. The whole environment will be vibrant, nurturing and inclusive.

Corporate Outreach and Company Sponsored Volunteer Programs

The corporate outreach and company sponsored volunteer programs are a good idea to implement in firms since they have a great value in the long run. They contribute to increase in employees’ engagement, recruiting of young staffs and enhancing company’s recognition in the community. The improvement in employee engagement is brought about by the satisfaction and high working morale thus increased production and profits rate. Young workers are recruited especially in situations where there are specified personnel or high demand skills. The company’s reputation is improved in the public’s eye or may also help in maintaining a hard earned image in the face of challenges. Ethical leadership involves demonstrating of appropriate conduct by the personal actions, interpersonal relations or encouraging factors like communication and decision making. Implementation of the above programs gives an opportunity for employee to develop their career and leadership skills which translates to increased staffs retention. The skills and competencies the workers have could result to a positive impact on nonprofit through the volunteering opportunities that lead to future participation, acquisition of new skills and firms’ loyalty.

References

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