Corporate Ethics -
What And Why?
'Ethics' is a word derived from the Greek word "ethos" which
can be justified as a-way of living.
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However, today the word has amassed various streams of our
concerns and conducts and behavior. Today ethics have been
commercialized to examine what is wrong and right, just or
unjust, like corporate ethics to deal with business.
The two terms-business and ethics may seem a contradiction
but actually they are a 'necessary condition' to set up a long
term business enterprise and thereafter achieve excellence.
Corporate ethics in short are significant. These corporate
ethics enable a firm on one hand to define a line between the
wrong and right, between various moral and ethical principles
arising on business grounds and in the business environment. As
a business is build over various individual units, there is
usually a contradiction between the individual ethics and the
corporate ethics. It indeed is a very tricky situation and as
per the scale of a firm the issues relates with these ethics
differs. It won't be wrong at all when one says that anyone in
business has a greater power to influence a decision, but who
decides that these powerful firms take a decision which is both
moral and suited t the community are the codes better known as
corporate ethics laid down for these business firms. It also
implies that indirectly or directly these business firms have
an obligation t pay back to its society and environment.
Corporate ethics not only provides a concrete guidance but
can even be related to the social codes that we have to conduct
a good and moral social life. Of course, all business firms at
one time or other face difficult ethical choices and decisions
to be made. Needless to mention that ethics like honesty and
responsibility are futile until corporations actually practice
them. However, corporate ethics can be said to manifesting in
the corporation, its practices and its people.
Moreover, various theories updated till date, in the same
context have straightly justified the fact that corporations
following these moral codes or corporation ethics usually
benefit more then other business firms in the competition.
Inevitably what emerge are qualities like teamwork, cost
cutting, reduced emissions, a good reputation which are
beneficial for the business firm. It in indeed advantageous for
any firm to set up a compliance with these codes of business
conduct.
These corporate ethics actually work to give a firm all what
is ethical and moral. Indeed, these have to be set by the top
executives of the firm, to give way to an exemplary follow up
by other employees as well. These corporate ethics when are put
into practicality give way to virtues which not only establish
a business firm as a responsible but even as an ethical
corporation. Without a mutual trust of the various
responsibilities of the business firms all across the world,
the business firms will cease to exist if not set within
compliance.
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