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What Are Ethics in Business Today?

April 03, 2012 | Comments: 0 | Views: 170

Knowing what are ethics in business today seems to vary between small businesses and large corporations. We have had to make laws and institute special Government Departments in order to force large corporations to be ethical and to oversight ethical behaviour in some small businesses.

This, frankly, is a sad state of affairs in an enlightened society. Much of this behaviour results from the personality of the person ultimately responsible for the profits or loss and smooth running of the company or business.

Based on psychological statistics, a psychological assessment of many CEO's of large publicly listed Companies would most likely show a very high percentage of them have a narcistic personality disorder combined with a degree of psychosis. Many of these types of personalities gravitate into management roles in large corporations and some successful small businesses.

Ethics 101 is a module in every business management course taught in Educational Institutions around the world but as time passes most CEO's and Company directors seem to forget the little that they learned. These days most Boards of Directors are so obsessed with the benefits that they accrue for running a profitable company that they tend to throw the ethics by which they gain them clean out the window.

Shareholders of a Company need to take more responsibility

Shareholders in a large company today also need to examine the statement of accounts much more diligently before attending an annual general meeting (AGM). Shareholders that are expecting continuously big dividends are part of the ethical problem today yet no-one is admitting to it.

Unrealistic shareholder expectations are partly accountable for the unethical behaviour of many of the Company/Corporation managers. Many of today's shareholders are self-funded retirees that depend on these dividends to bolster their annual income.

While it is understandable that self-funded retirees need as much income as possible from their shares in these larger publicly listed companies, it is also causing them to have to pay more out just to live. It has become a problem of raising living costs to fund these retirees while costing them higher prices in living essentials just to live.

But as the cost of living rises for self-funded retirees benefiting from a bigger income from the dividends; the cost of living is rising for our whole communities. What happens to families and pensioners on fixed incomes? So the ethical question is: "Is this an ethical way to run a business?"

It is a real dilemma for our regulators to come to grips with and to date; no-one has been brave enough to make the unpleasant and difficult decisions on what are ethics in business today.

Many self-funded retirees suffer the conundrum of ethics in business because they need the highest income from their share dividends but this in turn drives up the cost of living for everyone.

Source: EzineArticles
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