One of the main reasons for studying ethics is due to the _________

Topic- Ethics and Human Interface: Essence, determinants and consequences of Ethics in human actions; dimensions of ethics; ethics in private and public relationships.
Índice Show

What Is Business Ethics?
Business ethics is an essential skill.
Business ethics drives employee behavior.
Business ethics benefits the bottom line.
Understanding why business ethics is important

7) What do you think are the reasons that we should study ethics. Discuss.(250 words)

Reference

Directive word
Discuss- this is an all-encompassing directive which mandates us to write in detail about the key demand of the question. we also have to discuss about the related and important aspects of the question in order to bring out a complete picture of the issue in hand.
Key demand of the question.
The question wants us to write in detail about the reasons behind studying ethics. We have to bring out the importance of studying ethics in all the aspects.
Structure of the answer

Introduction– write a few introductory lines about the meaning and scope of ethics. E.g ethics may be defined as the systematic study of human actions from the point of view of their rightfulness or wrongfulness, as means for the attainment of the ultimate happiness. It is the reflective study of what is good or bad in that part of human conduct for which human has some personal responsibility.
Body
Discuss the importance of studying ethics. E.g
study of moral philosophy or ethics can deepen our reflection on the ultimate questions of life. The study of ethics helps a person to look at his own life critically and to evaluate his actions/choices/decisions.It assists a person in knowing what he/she really is and what is best for him/her and what he/she has to do in order to attain it.
study of moral philosophy can help us to think better about morality. Moral philosophy can help us to clarify our moral positions when we make judgements. It improves out perspective, and makes it more reflective and better thought out.
study of moral philosophy can help us to sharpen our general thinking processes. It trains our mind to think logically and reasonably and to handle moral issues with greater clarity. Ethics becomes inevitable as by nature human being is a ‘social’ being, a being living in relationship with other fellow beings and with the nature around. All actions, whether one is aware of it or not, someway or another affects the others.
conclusion– based on your discussion, form a fair and a balanced conclusion on the given issue

Like finance and marketing, ethics has become an essential business function. But why? In this blog, we shall explore the main reasons why business ethics is important for companies as well as budding business professionals.

What Is Business Ethics?

By definition, business ethics refers to the standards for morally right and wrong conduct in business. Law partially defines the conduct, but “legal” and “ethical” aren’t necessarily the same. Business ethics enhances the law by outlining acceptable behaviors beyond government control.

Corporations establish business ethics to promote integrity among their employees and gain trust from key stakeholders, such as investors and consumers. While corporate ethics programs have become common, the quality varies. According to the 2018 Global Business Ethics Survey (GBES), less than one in four U.S. workers think their company has a “well-implemented” ethics program.

Business ethics is an essential skill.

Almost every company now has a business ethics program. In part, that’s because technology and digital communication have made it easier to identify and publicize ethical missteps. To avoid the negative implications, companies are devoting more resources to business ethics. In one survey of accountants, for example, 55 percent said they believe the importance of business ethics will continue to grow in the next three years. In addition to establishing formal programs, companies are creating ethical workplaces by hiring the right talent. “High integrity and honesty” is the second-most important skill for business leaders, according to a recent survey. Today’s business professionals must understand the link between business ethics and business success.

Business ethics drives employee behavior.

According to the 2018 Global Business Ethics survey, employees are more likely to apply ethical reasoning when their company clearly demonstrates why business ethics is important. Ninety-nine percent of U.S. employees who experience a strong ethics culture said they’re prepared to handle ethical issues. Companies that advocate for business ethics motivate their employees to perform their roles with integrity.

The first step in building this kind of ethical culture is to create an ethics program. According to the U.S. Department of Commerce, a complete ethics program should touch on all of the business functions. That includes operations, human resources, and marketing, to name a few. The global research company Gartner advises companies to integrate their ethics program with business operations.

Doing so can maximize the program’s impact by making ethical processes part of employees’ workflow. According to Gartner, an ethics program should:

Define the program mandate
Mitigate and monitor risk
Establish policies and procedures
Oversee allegations of misconduct
Provide training and communications
Reinforce behavioral expectations
Manage the function of behavior ethics

Corporations have a critical role in developing good ethics in business. But educational institutions also play a fundamental part in shaping ethical leaders. U.S. News & World Report reported that ethics education is vital to a well-rounded MBA curriculum. At the University of Redlands, we understand why business ethics is important. Business professionals currently face some of the world’s most significant problems. Complex dilemmas like climate change, safety, and security require critical thinking and ethical reasoning. That’s why we equip students with these skills.

Redlands’ ACBSP-accredited MBA program develops students as competitive and ethical business leaders. Through a cutting-edge, interactive curriculum, we prepare students to meet and advocate for the behavioral expectations of an ethical workplace. Our students investigate the ethical, legal, and social factors of decision-making, and cultivate an ethical framework of business decisions in one of four concentration areas. We underscore ethics throughout our online MBA program, preparing students to promote an exceptional culture of ethics wherever they choose to work.

Business ethics benefits the bottom line.

Another reason why business ethics is important is that it can improve profitability. Honorees on this year’s list of the World’s Most Ethical Companies outperformed the Large Cap Index by 10.5 percent over three years. A well-implemented ethics program can also reduce losses. Twenty-two percent of cases examined in the 2018 Global Study on Occupational Fraud and Abuse cost the victim organization $1 million or more. Companies that practice questionable ethics may also experience a decrease in stock price and severed business partnerships, which can affect profitability. In addition, business ethics is linked to customer loyalty. Over half of U.S. consumers said they no longer buy from companies they perceive as unethical. On the flip side, three in 10 consumers will express support for ethical companies on social media. Business ethics cultivates trust, which strengthens branding and sales.

Understanding why business ethics is important

Amidst growing scrutiny of business practices, it’s more important than ever for companies to carry out work the right way. Ethics programs are an exceptional tool for promoting moral conduct. Organizations also need employees dedicated to ethical decision-making.

Learn more about how our bachelors and masters business programs can help enhance your skills as an ethical business leader today.

Ethics are the rules that define moral conduct according to the ideology of a specific group. Moreover, ethics in public administration are important for good business conduct based on the needs of a specific town, state or country. Adhering to a code of ethics can be challenging, but there are courses available in an online MPA program that can help students prepare to work within such parameters.

Ethics provide accountability between the public and the administration.

Ethics provide accountability between the public and the administration. Adhering to a code of ethics ensures that the public receives what it needs in a fair manner. It also gives the administration guidelines for integrity in their operations. That integrity, in turn, helps foster the trust of the community. By creating this atmosphere of trust, the administration helps the public understand that they are working with their best interests in mind.

Additionally, a code of ethics creates standards of professionalism that co-workers in the public sector can expect from each other — the public can also expect the same from their leaders. With a strong code of ethics in public administration, leaders have the guidelines they need to carry out their tasks and inspire their employees and committees to enforce laws in a professional and equitable manner.

Another positive outcome of good ethics in public administration is timely and informative communication with the community. This kind of transparency builds trust and prevents or minimizes the potential issues that can arise when information is divulged from outside sources. If there is something of consequence that the public needs to know about, it’s better for it to come directly from the leaders and administration. Communication also keeps all parties involved so that they can all work toward a common goal. Good communication ensures that the community can engage their leaders on important issues.

An ethics course in an online MPA program can help students understand the values of a code of ethics, and it can instruct them in ethical decision making. Coursework can also help students identify instances when they may face ethical dilemmas and give them the tools to act ethically. More importantly, coursework can give students a framework for their own integrity and commitment to ethics in public administration. As such, when a student faces a real-life ethical dilemma in the public sector, he or she will already know how to act immediately and professionally rather than losing time to misdirected, reactionary efforts that may violate a code of ethics.

When it comes to the public sector, strong ethics are paramount. Students who have studied ethics in an online MPA program are well-informed and ready to face the challenges of working within a code of ethics. They know how to maximize their efforts as part of a team and also how to serve as leaders when the need arises to further the goals they share with their communities.

Learn more about the UT Arlington online MPA program.

Sources:

http://www.theguardian.com/society/2014/jun/25/ethical-concerns-public-service-commissioning

https://www.aspanet.org/ASPA/Code-of-Ethics/ASPA/Code-of-Ethics/Code-of-Ethics.aspx

https://www.govloop.com/community/blog/the-five-core-values-of-public-administration/

http://www.governing.com/columns/smart-mgmt/col-culture-ethics-public-sector-needs.html

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