The Concept of Ethics in Business Assignment Example | Topics and Well Written Essays - 2250 words

The Concept of Ethics in Business - Assignment Example Decision making involves a course of action that is taken towards the attainment of certain goals in a given organization (Amos et al 2008). There are different concepts which affect the organization’s decision-making process and these are ethics, leadership, service, and character. 1. Basically, the term ethics is primarily concerned with distinguishing between what is good and bad. Special attention is focused on issues of morality and professional conduct in an organization where honesty and integrity are regarded as the guiding principles (Rossouw 2004). The value system shared in an organization defines its ethics and it should not be compromised for financial purposes as this will discredit the organization. 2. Leadership is defined as the ability of an individual person to influence the efforts of the other members of the organization to follow a particular course of action that is concerned with the attainment of set goals. Amos et al (2008) concur that leadership is concerned with inspiring, motivating, envisioning, promoting learning as well as team building so that the objectives of an organization are achieved. 3. A service is an offering which is intangible and can be exchanged for monetary value or equivalent. For instance, a taxi ride or banking facilities are all examples of services which are intangible. Good services to the customers are advantageous in that they positively contribute to the organization as a whole through increased profitability from more sales since the customers are satisfied. 4. A character can be described as an attribute in a particular person that helps distinguish that person from the other. People, as well as other products, are not homogenous and they have different features that make them different from the others. In an organization, the management must try to establish the character of the employees so as to be better positioned when it comes to decision making.