Question: Other than ethical values, what values might a business manager use in reaching decisions? Are there classes in your college curriculum, other than ethics, which advise you about proper and correct ways to act and decide?
It allows the individual to understand the policies regarding various responsibilities. In general law guides the business ethics, and business ethics guides the business to gain acceptance in the market. Business ethics is the study of situations, and activities within the organization to have a conscience over the decision.
Other than ethical values, the values to be possessed by a business manager are as follows:
• Accountability in terms of meeting the deadlines with a fair and square practice,
• Being positive towards understanding other, and considering their opinion,
• Respect towards the organization, etc.
These values will build the culture within the organization, and will allow the individuals to align towards the culture. The basic advantage of having these values is that it not only guides the leader to take right decision straight forward, but also allows them to understand the opinion of other. So, by doing this the common purpose of the organization to be fair can be met.
In the worst scenario, if these values are not met the company will lose its potential in the market. This will have an adverse impact on the relationship among the stakeholders.
No, the ethics cannot be learnt in your college curriculum, as it depend the conscience of an individual to decide on what is right and wrong. It is the inbuilt quality which can be developed based on the culture. It is not a skill to be possessed. In general, all the activities within the college is a curriculum that student can accept to act ethically.