When we talk about business ethics, it is emphasizing on good values at the workplace or office. It ensures decent behavior, which is aligned with good, moral values. It’s called value management. Then, there are many myths surrounding business ethics and a couple of these fallacies arise from common bewilderment about the idea of business ethics. Again, some myths crop up from a basic or narrow perspective of ethical predicaments.
According to an article published on https://www.nytimes.com, good business ethics result in great business outcomes. Then, in a business, doing the correct things will lead to tragic results. Here are some of the myths surrounding business ethics:
Eric J Dalius dispels the myth that it’s meant for academicians and philosophers
Lack of leadership and participation among business leaders as well as managers made us believe that business ethics is a trend, nothing more than that. It has nothing to do with the daily activities of operating a business. Many believe that corporate values are an intricate theoretical argument that no one cares about in an organization.
The reality is that business ethics is a management discipline with some programmatic approach including realistic tools. When it comes to ethics management plans, they come with practical applications in other aspects of management.
Employees are always ethical and therefore one need not focus on ethics
The ethical dilemmas managers face in a company are extremely intricate. The industry experts mention that one comes to know when they have a considerable moral clash in the incidence of important value disagreements among varied interests. Again, the real options are partly acceptable and you will find huge consequences on the stakeholders in a specific scenario.
As per EJ Dalius, when the subject of business ethics crops up, individuals are eager to discuss the golden rules of business, courtesy, and integrity. However, when discussed with intricate moral dilemmas, most individuals understand that there is a huge gray zone when implementing ethical values.
Business ethics is about good people teaching bad people
Some people give an impression to assert an ethical high ground while grieving over the pathetic situation of a business and its managers. Then, these individuals understand that good people resort to bad things or actions, especially when they are perplexed and stressed. However, confusion and stress are not justifications for immoral actions in a company; these are reasons or causes instead.
Business ethics in an organization means helping one another to stay ethical as well as work through perplexing and demanding moral dilemmas.
A company has no legal issues and therefore, it is ethical
This is the greatest of all the myths. A business can do unethical things within the boundaries of the law, such as hiding details from superiors, keep complaining about others, fudging budgets, and things like that. Breaking legal guidelines starts with immoral behavior that no one noticed.
Dispel these myths related to business ethics so that it does not harm your organization at all. If you listen to something, first verify the authenticity of that information and then take action.