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Understanding Ethical Management: Principles, Challenges, and Strategies

Ethical management plays a crucial role in today's corporate landscape, especially amidst prominent white-collar scams like Enron and MCI WorldCom. This framework encourages managers to adhere to ethical principles and strive for profitability without compromising moral values. While approaches range from immoral strategies focused solely on profit to moral management that upholds ethical standards, the importance of ethical leadership remains paramount. Practicing social responsibility, truthfulness, and respect for individuals can foster a corporate culture that values integrity and accountability.

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Understanding Ethical Management: Principles, Challenges, and Strategies

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Presentation Transcript

  1. Being an Ethical Manager

  2. Do you know? • White collar scams • Enron & Arthur Anderson • MCI worldcom • CSE Insider Dealings

  3. Immoral Management • An approach that not only lacks ethical principles but is actively opposed to ethical behaviour • Norms are of active negation of what is moral is implied • Goals profitability at any cost • Overcome legal barriers • Exploitation strategy

  4. Amoral Management • An approach that is neither immoral nor moral but rather ignorant ethical consideration • Norms may imply a lack of ethical perception and moral awareness • In motives impact on others is not considered • Profitability is the goals and not other goals • Within legal framework • Strategy to give managers free rein, personal ethics will apply, respond to legal mandates if cought

  5. Moral Management • An Approach to follow ethical principles and perceptions • In norms ethical leadership is given priority • Motives within sound ethical percepts • Profitability within legal and ethical standards • Prefers to operate above legal mandates • Strategy to live by ethical standards

  6. Ethical Principles • Obey the law ( Social Responsibility) • Tell the truth ( Stakeholders) • Show respect to the people (Treating People) • Above all Do no harm ( Medical)

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