Business and Governmental Ethics

Ethics in the business world and government have taken a backseat to personal advancement and monetary gains in the past several years. Everyday the media is covering some scandal or another in large business environments. People, who run businesses and work in government, have long forgotten the moral standards of "good business" and are dealing in sneaky, underhanded deals and cover-ups. Getting ahead financially has become more important than integrity, loyalty, honesty and demonstrating good business and ethics practices. Somewhere along the lines they have forgotten the basic teachings of ethics that all business students learn. Consumers and citizens should hold the business world and the government more accountable for their actions. It is after all, the consumer who pays the price. Consumers should also be aware and wise to the fall of their ethics and integrity as well.

Business ethics includes the standards of conduct and moral values that involve right and wrong actions in the work environment. Poor ethics can lead to employee theft, lawsuits, poor public image and many more problems. Good ethics can lead to trust with employees and customers as well as with other organizations. In today's world, executives should especially demonstrate higher standards of ethics since studies show that employees often emulate their behavior. Government cannot be left out either. Every day we see more and more loss of ethics and trust in the political world of government. The citizens no longer trust or look to these entities for support. Recent economic situations in this country solidify the lack of integrity and ethics being conducted in big business and government.

Strong businesses hold ethics at the forefront of their organization. They know to gain customer loyalty they must rise above today's industry standards and gain trust. Building strong customer relationships in business or strong citizen loyalty in government is the best way to succeed. Deliver more than you promise, do this consistently and honestly.

Visionary companies often have strong company and individual ethics at their cornerstone that forms a framework of the decision making process. This leads to a stronger foundation within the company. This practice can be utilized by government as it was when our nation was formed. In recent years we've seen a steady decline of ethics in business and government. This has had a major domino effect, not only on society as a whole, but on our nation's financial structure as well. We are watching our nations economy slowly degrade around us. Had ethics remained in the day to day business practices of corporations and government officials, this would be less of an issue.

Management philosophy highlighting the social and economic effects that goes together with business ethics is social responsibility. Businesses demonstrate social responsibility in a variety of ways. Some business's set up programs to have used items donated to the needy or to other causes such as education, prison reform and environmental issues. A primary objective of social responsibility deals with actions and procedures that are directed towards society's welfare, and businesses should find that balance between profits and doing what's right or wrong to avoid serious repercussions. Government should follow these same procedures.

Deciding what is right or wrong in any given situation is not always a clear-cut choice. Business's, whether small or large, have responsibilities to their customers, employees, and investors as well as to society. Sometimes problems arise between making a profit, responsibility to customers and laws that govern business. If integrity and ethics are held at the forefront it can make the difference between success and failure of a company.

Individuals also make a difference in a company's ethical expectations and behavior. It is estimated that U.S. businesses lose over $120 billion a year from employee theft including everything from cash, to paper clips, to time stealers who lie about time on the clock. While employee theft can't be completely eliminated it can be reduced by using good ethics in business (from the top down) and making employees feel like they make a difference in the company.

Personality ethics overtaking Character ethics has played a major role as well. A person of good character used to be held in high regard. These days it's hard to find a person considered to be "of good character", especially in big business and government. Ethics, character and integrity must return to the work environment, our personal lives and in those we elect to represent our basic fundamental wishes. People must regain those three things as well, or how else could we hold others accountable for practicing bad ethical behavior?

The economic future of the world may very well lie on foundations of ethics, character and integrity.