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Ethical business practices can be defined as a set of principles and behaviors that influence how a company conducts itself in relation to daily operations, interactions with others, and decision-making policies. The importance of ethical practices in business cannot be overstated. This is a win-win for everyone involved.
Some served as heads of businesses that operated across geographies in multiple countries and many continents. A promise is a promise was their unspoken shackle bonded with truth and trust. It was about reaffirming leadership in sectors in which the conglomerate operated. Because they hold a position? We barely kept in touch.
The perception is that getting along with people is nice, but “nice-to-have” — secondary to the operation of the business. But most books on this topic focus on mentoring and executive coaching, not skills for operational leaders. They aren’t about computers, vehicles, machines and other “hard” equipment.
As technologies such as robotics and artificial intelligence have progressed, there has been considerable time and effort given to the ethics of this development. The movement is not operating from a standing start however, as there has already been some fascinating work done to explore how humans interact with industrial robots.
See how even the most successful business operates with only 20% of its staff turning up for work, or only 20% of its IT systems functioning that day, and you’ll see just how quickly even the most titanic corporations can lose value quickly. There are many pillars upon which a competent business rests.
Looking at our first point, leaders do not necessarily have to be charismatic to inspire others, they can have deep values, be highly ethical, champion a cause and such-like descriptions. When people see this in others we suggest it forms a bond, and in leadership this can be a powerful bond.
Long-term track record, unlike anything accomplished by any other individual, all contributing toward organizational philosophy, purpose, vision, quality of life, ethics, long-term growth. No entity can operate without affecting or being affected by its communities. It is a bond of trust that, if violated, will haunt the business.
This is a bonded collaboration toward each other’s success. Truth and ethics must be woven into how you conduct business. The mentor requests pro-active changes of mentee, evaluates realism of goals and offers truths about path to success and shortcomings of mentee’s approaches.
Listen in on MBA classes and corporate conferences and you will hear a lot of talk about the need for inspiring missions, ethical behavior and transcendent purpose. Our system of financial accounting rewards quarterly profits, but struggles mightily to place a value on ethical behavior.
To make such requests, you're going to need to have built a hell of a personal bond. Ethics aren't just important in business," Branson says. For folks who are looking for operational principles, take these from Lisa Gansky's fabulous book, The Mesh. They are the whole point of business."
This hasn’t gone unnoticed by some leaders, and a new generation of CEOs taking a cue from this last bastion of the Protestant work ethic. It is also a matter of having fun and fostering strong bonds between team members to help them reach their goals. During 2016, employee engagement increased by 3%, to 75%.
In eras following downturns and scandals, it is incumbent upon good companies to go the extra distance to be ethical and set good examples. No entity can operate without affecting or being affected by its communities. It is a bond of trust that, if violated, will haunt the business. by Hank Moore. Community Relations.
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