CHAPTER RESEARCH 1
Ethics refer tothe acceptable forms of societal behavior which an individual isexpected to uphold. The link for the article ishttp://hrcak.srce.hr/file/103308
Ethics andManagement of a Company
Ethics affectmanagement in that the leaders of an organization are supposed toprovide oversight in a considerate and thoughtful manner. Also, themanagers of a particular business must fulfill their functions in anethical manner (Jamnik, 2011). For example, a manager could bedemoted if he used his position and influence to grant jobs tounqualified friends and family members. I would respond to thisimpact by ensuring that all the employees were hired after theculmination of a competitive hiring process.
Impact of theU.S. Economy on Ethics
The U.S. economyhas a great impact on ethical guidelines. For example, the gradualprogression of the country’s economic cycles creates an imbalancein fiscal policies. In this regard, large corporations acquire moreprofits than smaller firms. Furthermore, the U.S. economy supports acapitalist system where the gap between the rich and the poorcontinues to widen. Consequently, the managers in an organizationhave more opportunities to grow their earnings relative to thegeneral employees.
Impact ofLegislation on Ethics
Several forms oflegislation have been enacted to enforce ethical guidelines. Forexample, corruption has emerged as a destructive evil in the society.Many companies have offered monetary gifts to obtain unfairadvantages and preferential treatment (Jamnik, 2011). Therefore, theU.S. government has enacted laws such as the Foreign CorruptPractices Act (FCPA) to curb unscrupulous actions. Under FCPA,American subsidiaries in foreign countries are barred from offeringfinancial incentives to public officials. Also, companies aremandated to maintain detailed records of all financial transactionsto prove their compliance with Federal laws.
Ethics play asignificant role in the proper management of an organization. Infact, ethical guidelines act as a safeguard against blatant abuse ofpower. Ethics also ensure that employees receive fair treatment.Therefore, turbulence in the economy would never be used as an excuseto lay off workers.
Jamnik, A. (2011). The challenges of business ethics: Management andthe question of ethics. Tourism and hospitality management, 17(1),141-152.