BUSINESS SPECIAL..Ethics in Business

Ethics in Business

Is your behaviour influenced by who’s watching you? 

Good business practices are not only about bottom-lines, but also ethics

    When it comes to success, a majority of people assume that making it to the top requires ethical compromises. As more and more scams get reported and cases of unethical behaviour revealed, it becomes all the more important for organisations to drive an ethical culture at the workplace.
    So, is unethical behaviour becoming a norm in many organisations? According to Ajith KN, vice president and head – HR & FMS, Mytrah Energy (India) Limited,“India Inc’s image has taken a real beating in the wake of many recent high-profile scandals. Unfortunately, the potential for individuals to behave unethically is limitless. But it is important that managers and organisations do not promote morally and ethically questionable practices.What is needed in today’s turbulent times is for more organisations to come forward and operate with strong, positive and ethical cultures.”
    Talking about how work ethics play a major role in today’s corporate world, Alex Augustine, VP - corporate HR, CMS Info Systems Pvt Ltd explains,“You wouldn’t sell a fake toy to a seven-year-old, would you? Most of us wouldn’t and that is exactly how I feel organisations should respond when it comes to doing business. Studies have proven that customers are ready to pay a premium for products from organisations with sound ethics and values.You will also find potential employees preferring value-driven organisations.” Similarly, W Michael Amick Jr, president, International Paper India avers, “Regardless of the type of ‘race’, in order to compete successfully, one must finish the race. We believe and know that operating as per one’s core principles builds the right foundation for successfully competing in this or any other race.”
    So, what are some of the key attributes needed for an organisation to be fully integrity-based? Values within the organisations need to be driven from the top, asserts Augustine.“Organisational leaders play a significant role in preaching and practising these values through their actions, which also demonstrate what they expect from their team members,” he shares.
    Ajith KN points out,“While it is important to include a code of ethics and conduct in the orientation of every employee, it is more important to imbibe the values into the organisational culture and help employees continuously remember and practise these values.This is possible by reinforcing and reiterating these values through effective reward and recognition mechanisms that encourage these positive behaviours. ”
    The strength of a company’s ethical culture lies in the extent to which the organisation makes doing the right thing a priority. Hence, it is imperative to continually share expectations and policies to create a clear understanding of acceptable and unacceptable behaviour at the workplace.This creates a culture where employees independently behave in an ethical manner. And if a zero-tolerance policy towards unethical practices is adhered to, the myth of nice guys finishing last will certainly be shattered.

Yasmin Taj TAS130417