In today’s time business ethics play a very major role to guide the operations of a company or business. But however, the most common issues that fall under this umbrella include employer-employee relations, discrimination, environmental issues, bribery, insider trading, and social responsibility. While many laws exist to set basic ethical standards within the business community, it is largely dependent upon the leadership within the business to develop a code of ethics.
Also, while practicing strong ethics it is ensured that businesses within the parameters of the law, it can also be used towards building goodwill and brand equity. Thus, the need of the hour during the ongoing pandemic are such individuals cum managers, who can lead by example addressing the most popular social issues often driving business ethics, and when different issues come to the forefront, helping their organizations respond by bringing their ethical tenets in line with new social norms.
While the whole process of evolving business ethics was steady and gradual, we saw a sudden boom in this aspect where employees were more than just capable academics, but all-rounded ethical human beings in the early 1960s. A time where idealistic individuals wanted to make the world a better place, which the previous generations were lacking, catering to the rising unethical use of rampant ways and substances, the new focus on individualism caused many workers to go beyond their work roles, and perform as capable leaders. Companies also responded to the changing times by beefing up human resources departments, establishing mission statements, and outlining codes of conduct, helping one and all present on their premises feel welcomed.
Furthermore, in response to the changing desires of their employees, businesses also started embracing social responsibility at a level not previously seen. In fact, it was the 1960s that saw businesses trumpet environmental friendliness for the first time and companies also looked for new ways to give back to their communities, thus, creating those leaders cum business experts who now have become role models to the world.
Subsequently, as days passed and we entered the 1990s, the world saw a rebirth of environmentalism, where new heights in social responsibility were reached, thereby, letting employees become environmentally aware individuals. From starting on environmental drives to social service to expanding even on to the online realm, understanding the clear future, leaders of tomorrow are actively working towards taking every measurable step to uplift their social values. With every thing at the tip of our fingerprint in today’s time, business leaders are the first ones to venture into the unknown territories and still come out as successful individuals, all thanks to the impressive business ethics they have inculcated from their seniors and the willingness to which, they look forward to extending their expertise onto others, one person at a time.