Organizations should be ethical. What are the eight elements of an ethical organ

Question

Organizations should be ethical. What are the eight elements of an ethical organization as outlined in the article entitled, "Eight Elements of an Ethical Organization."

Ethical Organizations

How important are these to an entrepreneur? What could be the negative impact if an entrepreneur is not ethical?

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Explanation / Answer

Ethics are a foundation of a good company, and while they can be fixed, the best companies begin with a solid ethical footing. For entrepreneures it important to learn an effective ethical behavior because a lot of attention must be paid to ethics in business. The drive to get ethics is now a huge push in every business activity. Many business experts treat ethics like a sermon on the mount. Although it's hard not to preach a bit when it comes to ethics and morals. There are some of the most important elements of an ethical organization and these are;-

These elements are very much important to an entrepreneur because it helps the entrepreneur to knw that how the organization responds to an internal and external stimulus. It also;-

A lack of ethics leads to a wealth of problems for a an entrepreneur. It leads to bring out many legal issues in the business, can decrease the employee performance, dismanage the employee relationships, insufficient community development, public danger, loss of goodwill, unethical behavior of employees. The sad truth is that  almost every company has individuals that partake in unethical behaviour for their personal benefit or supported by the company. Unethical behaviour might be as simple as using company property and time for personal benefit to inside trading and financial fraud. Many companies sadly make it part of their operational policy to cut corners, accept and give kick-backs in order to get juicy contracts and maximize profit. Therefore, if an entrepreneur is not ethical it would have a severe impact on the business enterprice.

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