Ethics Work and Business

Ethics Definition- Moral principles by which people conduct themselves personally, socially or professionally “Doing the right thing” Your values are reflected in your behavior

Work Ethics

Definition-a set of values based on moral virtues of hard work and diligence Examples – Showing up to work on time – Giving a full days work for a full days pay – Not calling in when you are not sick – Not taking office supplies home

“Work ethic is an often mentioned attribute employers want their employees to have, but one they often say is hard to find”. Boardman (1994)

A strong work ethic has become increasingly more important during the information age (post 1990) because workers are working in a more solitary environment as opposed to the industrial age. Employers are needing employees who can make decisions on their own without management approval in order to increase efficiency in the workplace. Employers want employees to have pride in their work while at the same time maintaining a high degree of integrity while performing their day to day tasks.

What is your work ethic in school? The work ethic you have in school will roll over into the workplace if you aren’t careful. Examples of poor work ethic in school – Willing to hand in sub-standard work – Falling asleep in class – Not listening to instruction and asking again for an explanation – Procrastination – Not handing in work on time – Sleeping in and having a poor attendance record – Talking in class

Bad Habits are Hard to Break!

Business Ethics

Definition-Rules based on moral principles about how businesses and employees ought to conduct themselves

Code of Ethics Many companies develop Codes of Ethics so the public and the employees know the ethics guidelines.

Ethical Issues in the Workplace Employees taking cash from company vendors Lying on your expense account Taking office supplies home Financial people overstating profits Overworking people without paying them properly Taking advantage of your employees Uses inferior products in manufacturing Giving away merchandise to your friends

You must be careful in business that you are not only committing an ethical violation but you could also be committing a crime.

Ethical Observations by Employees National Survey of Employees 69% reported their organizations offer ethics training 65% indicated their organizations offer ethics advice 55% observed misconduct at work and reported it 52% observed at least one type of misconduct

How do you determine whether an action is ethical? Ask these questions – Is it legal? – Is it fair? (Is it balanced to all parties involved?) – Is it right? (Are you proud of your actions?)

Ethical Decision Making Process Identify the ethical dilemma Discover alternative actions Decide who might be affected List the probable effects of the alternatives Select the best alternative

Company’s Ethics Policy Policy should include these 5 fundamental principles – Purpose- combine vision and values – Pride- builds dignity and self respect – Patience- focus on long term versus short term results – Persistence- stand by your word, show commitment – Perspective- reflect on where your business is heading

Levi Stauss’ Ethics Policy Ethical Principles include – Honesty in advertising – Promise Keeping in vendor relations – Fairness among everyone – Respect for other people’s contribution – Compassion for employees – Integrity for product development

A strong ethics policy equates to a strong company with effective leadership.