Discussion

How can ethical behaviour be built into the fundamental logic of business?

Main points raised on the discussion board Can the decision to act in an ethical manner be just a voluntary activity left to individual discretion? Ethical behaviour is contingent upon the individual and the culture the organization promotes. The Herd Mentality When It Comes to Investments and Does Ethics Stand A Chance Against The Bulls? The only way to ensure that companies and business people remain ethical is to have strict enforcement of a set of rules or regulations. Ethics should be part of the business model, starting from employee training. Companies can incorporate a certain level of ethical behavior into their business logic through help of the government and the public. Ethics is all about cooperation. The role of ethics is changing.

Conclusion
Most of the issues raised in this discussion are quite intriguing. I feel majority of ethical issues arise when people engage in activities or behaviour which are not in line with those that of the organization. Based on the main points raised, I feel that the ethics has come into the limelight especially after the 2008 financial crisis. It should not be left completely at the individuals disposal but there must be stricter laws enforced. Ethics should be an integral part of any business strategy or plan. With reference to the discussions on NewMindsets, I totally agree with Fotioss view of leading by example. If the top management itself is fair, transparent and honest in all its internal operations and dealing with customers, then the same will be reflected at lower levels and positively on the entire company as well. Every company has rules and codes of conduct. But, eventually it is upto the employee to preach them or not; and if he/she sees ethical behaviour from the management level, then it is more likely to be followed. This is one of the best ways of instilling ethics into the fundamental logic of business. Even if heavily fined, companies are more likely to break laws or engage in unethical behaviour as long as the monetary benefits continue to outweigh the cost of fines. Profits shouldnt be generated at the cost of somebody else by following unlawful or unethical practices. Another problem is that most of the businesses are deliberately structured to

benefit the owners interests and if profits are not shared among all the employees, then it might lead people to follow unethical practices. Therefore, business must be done in such a way that all parties involved in it benefit proportionally, including all stakeholders and the community. If ethics isnt instilled right from the beginning into an organisation, then it should be brought upon is such a manner that employees dont feel burdened or restricted rather they should look at it as an integral part of their business. Just as there are ISO certifications for quality, risk & environmental standards, ethics should have one.