Thursday, April 20, 2017
- Management Study Materials
- What is Ethics of Management? Mention the ethical activities of a manager.
‘Management Ethics’ is related to social responsiveness of a firm. It is “the discipline dealing with what is good and bad, or right and wrong, or with moral duty and obligation. It is a standard of behavior that guides individual managers in their works”.
Amongst a host of ethical activities that managers can perform, a study conducted by Barry Posner and Warren Schmidt highlights the following ethical activities observed by managers:
1. The foremost goal of managers is to make their organizations effective.
2. Profit maximization and stakeholders’ interests were not the central goals of the managers studied.
3. Attending to customers was seen as important.
4. Integrity was the characteristic most highly rated by managers at all levels.
5. Pressure to conform to organizational standards was seen as high.
6. Spouses are important in helping their mates grapple with ethical dilemmas.
7. Most managers seek the advice of others in handling ethical dilemmas.