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Very important, ethics is the part of business.
Business ethics are extremely important for any manager or leader to establish their image as a trustworthy, visionary, credible and a reliable professional. It is expected of every manager to uphold the moral principles of business and professional conduct. The personality of a manager with high business ethics and morals demands respect. This creates a huge impact on his subordinates, business associates and colleagues, partners, key decision makers / Internal & External share holders and clients as well. His/her very reflection is an inspiration to others.
No ethics- no business
business ethics depends on company in which you work as a manager, if its only sales company no ethics work the only thing manager needs is sales by hook or by cook.
Business ethics is an essential element for a productive co-operation. In additional I think that in some particular fields (such as procurement and purchasing or accountant and cashiers for example) business ethic is a must and a prerequisite for any upcoming collaboration.
Business ethics is important because it keeps business people to operate within a moral and legal pedestal that not only leaves them satisfied internally but also increases sales because most people like dealing or doing business with honest businessmen. Also if the public or your potential customers recognize you to be engaging in improper business deals, they will turn away from you.
Very Important, Wrong business ethics will make a project to completely fail. Trying to squeeze the supplier, getting as much work as possible at free of cost, and trying to lie to avoid scope change request will end up in a big time project failure. So, Being an ethical manager is very important to a project manager.
Very important! Many times it so happens in the industry that wrong business ethics leads to failure of management and financial loss. It is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. Unethical policies by the business management can result in unfriendly relationships among the business corporates and stakeholders. Its important to value the international commercial behavior. Issues such as globalization and cultural imperialism still persists and are considered to be international issues. Business ethics is part of the philosophy of business and its a social responsibility. It’s a vast subject and to be given due importance.
Ethics is one of the basic parameters in real success (not temporary or imaginary success) it makes you as a manger to feel that you are standing on a strong deep and comfort structured activities in business in addition it raise up the self confidence in side you and your team and almost in all stockholders in the project who deal with you temporary or frequently , in general it is really as Mr.Majid said it is a guide line
Every day, managers and employees need to make decisions that have moral implications. And those decisions impact their companies, company shareholders, and all the other stakeholders in interest. Conducting business in an ethical manner is incumbent upon everyone in an organization for legal and business reasons. And as a manager, it's important to understand your ethical obligations so that you can meet your company's expectations as well as model appropriate behavior for others.
Ethics is a set of standards for judging right from wrong. At its most basic level, it means acting fairly and honestly in individual as well as group decision making. On a business level, it can refer, for example, to fair and honest competition, acting without deception or misrepresentation, and working within the boundaries of the law.
Managing ethics in the workplace holds tremendous benefit for leaders and managers, benefits both moral and practical. This is particularly true today when it is critical to understand and manage highly diverse values in the workplace.
