There is much talk today about ethics in business – as there should be, but there should be more than talk; there should be a high moral code for all executives who are responsible to both their customers and their shareholders. For example, if your coworkers make long-distance telephone calls on company time and at company expense, you might view that behavior as acceptable and ethical because everyone does it. Significant others are persons to whom someone is emotionally attached-spouses, friends, and relatives, for instance.
The job profile involves introducing various insurance policies of a company to potential customers, according to their needs. When you give a brokerage company, a mutual fund or any financial institution your money you expect, in fact, you demand, that they treat you fairly within the rules of the industry.
New managers and leaders must focus time and energy not only on making the organization profitable, but they must learn to help individuals in the organization recognize situations which may cause ethical dilemmas and ways in which to apply ethical behavior in a way that satisfies all stakeholders.
The National Academy of Engineering cites example of how Texas Instruments’ leadership is focusing on ethical behavior on its on line ethics center (). The company has created a website for employees to visit which lists hundreds of articles which have been published in corporate magazine TINews.
Leadership in business must set the standard and “walk the talk” when it comes time to ethical behavior. However there are some accounting ethics to be kept in mind for all financial transactions made. Business ethics is the application of ethical values to business behaviour.