According to business dictionary Ethics is “The basic concepts and fundamental principles of decent human conduct. It includes the study of universal values such as the essential equality of all men and women, human or natural rights, obedience to the law of land, concern for health and safety and, increasingly, also for the natural environment.” Ethics is a growing priority for business leaders and they are struggling to embed an ethical culture. To fully embed an ethical culture, organisations must develop training, communication and leadership. Here are five steps to develop ethical performance.
Set the Specific Objectives
Relevant code of ethics, conduct or similar policy that sets clear objectives, standards and expectations is a key requirement for ethical performance. That means one needs to consider the front page rule.
Chain of Command
Maintenance of the chain of commands is important to set the tone from the top. Senior management teams must show leadership and be seen to live the organisation’s ethical values.
Interdependency
Engagement of staff and other stakeholders such as suppliers, investors, regulators and consumer communities, through effective and informative communication, is also important. Good, regular and consistent communication and training will help to embed an ethical culture.
Positive Vibes
Provide support routes for staff will increase the organizational ethics among the members. Organisations need to develop clear routes for reporting suspected fraud and violation of company policies on ethical behaviour. Too many organisations are weak in this regard and must adopt a zero-tolerance approach.
Ethical standards
Measure the effectiveness of your ethics programme. To ensure best practice, organisations need both to measure their ethical performance and to foster open discussion. That would help to enforce ethical standards strictly and evenly.
>Alma Siddiqua
