Explain the meaning of the term “management ethics”

Management ethics refers to the accepted standard of behaviour by those in managerial positions. It is essentially concerned with the following:
i. The obligations that managers have to their various stakeholders: employees, customers, shareholders, and the community
ii. Topics at the cutting edge of business ethics, including the ethics of supply chain management, as well as dealing with the press and non governmental agencies
iii. The concepts of sustainability and triple bottom line accounting
iv. A manager’s station and his duties: the function of being a manage
v. Stockholder management or stakeholder management
vi. The ethical treatment of employees and customers
vii. Corporate social responsibility
viii. Moral imagination, stakeholder theory and systems thinking: one approach to management
ix. Decision-making
x. Leadership

Ethics is the defining issue for today’s organizations. Companies, professional firms and individuals alike are being held increasingly accountable for their actions, as demand grows for higher standards of corporate social responsibility. Today we are judged not only on the financial performance of our organizations, but also on whether we are good corporate citizens. And at the heart of corporate citizenship is organizational ethics.

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