"Values of Organization" is an overused and perhaps and badly treated term in companies across the world. Organizational values define the acceptable standard which indicates the behavior of individuals within the organization. Without such values, individuals will follow the behaviors that are in line with their own individual characteristics, which may lead to behaviors that the organization doesn't wish to encourage. Organizational values establish standards of behavior, which serve to encourage or discourage certain behaviors. In other words organizational values help people to identify priorities at workplace. Leaders are not only the source but also the most important means of establishing organizational values. Leaders not only set the direction of the organization, they also establish the means to achieve the goals. These represent the beliefs and behaviors that cannot be compromised for the sake of results. Clearly, the organization's values must be in line with its purpose or mission, and the vision that it is trying to achieve. Culture of a business organization refers to the example of shared values and beliefs that help individuals understand organizational functioning and meaning, and the rules for behavior within the organization. It is a set of strongly held the values norms, beliefs, habits, and symbols according to the operational managers who organized the operation. In the definition of organizational culture, it provides a framework through which members internalize expectations about organizational roles and behaviors and acts to serves to a large extent as an organizational control system. Organizational values are unique to each company. They shouldn't just be politically correct the marketing terms. So to summarize, articulated values of an organization can provide a framework for the collective leadership of an organization to encourage common norms of behaviour which will support the achievement of the organization's goals and mission. The statement 'Value' defines how people want to behave with each other in an organization. And the statement shows how an organization will value his customers and other related suppliers and inter related communities
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Examples of some values:
There are some examples of values are given follows:
Ambition, Equality, Service, Responsibility, Diversity, Improvement,
Accountability, Empowerment, Collaboration, Security, Challenge,
Dependability, Flexibility etc.
Some importance's of organizational values:
Values are guiding principles, or standards of behavior which are regarded desirable.
Values are principles, standards, or qualities you consider worthwhile or desirable, important and held in high esteem by a particular society in which a person lives.
Values will vary greatly from person to person.
Values are the embodiment of what an organization stands for, and should be the basis for the behavior of its members.
An organization may publish one set of values, perhaps in an effort to push forward a positive image, while the values that really guide organizational behavior are very different.
Values follows in every workplace. Organization's culture is partially the outward demonstration of the morals currently existing in your workplace.
Business ethics is very important for understanding and facilitating business outcomes. It is one of the important fundamental of corporate leadership. It proves a business climate and foster firms to act as a good administrative element in the world markets. Same as, Lawful business can help to develop formal structures and increase informal management activities through displaying towards to achieve good attitude values and practices. Business ethics is the behavior that a business adheres to in its daily dealings with the world. The ethics of a particular business can be miscellaneous. Many businesses have gained a bad reputation just by being in business. To some people, businesses are interested in making money, and that is the bottom line. Good business principles should be a part of business. There are some factors to consider. When a company does business with another that is considered wrong, does this make the first company unprincipled by association. There is some people would say yes, the first business has a dependability and it is now a link in the chain of unprincipled business. If a company does not adhere to business ethics and breaks the laws, they usually end up being fined. Many companies have broken anti-trust, ethical and environmental laws and received fines worth millions. Business ethics should eliminate exploitation, from the sweat shop children who are making sneakers to the coffee serving staff that is being ripped off in wages. Business ethics can be applied to everything from the trees cut down to make the paper that a business sells to the ramifications of importing coffee from certain countries. As a business practice and a career specialism, the field is generally normative. The range and volume of business ethical issues proves the degree to which business is supported to be at un-common with non-economic social values.
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Setting business ethics:
While the concern imposes some ethical rules, legislation cannot possibly define business morals as a whole and cannot address every situation in which ethical dilemmas may come up. Sometimes business ethics and personal ethics may conflict. This dilemma occurs commonly in attorney principles. In every lawful cases, the defender and the complainer try to prove themselves. These ethical rules are often referred to as a code of conduct or rules of conduct, by which those in the group stand for. Each group determines their ethical stance based upon different guidelines, whether it is established principals, religious book, or group agreement. However, attorney ethics dictates that the lawyer keep the client's secret. In fact, it would be unethical to do so. In every case, the attorney must put business ethics first in order to protect the structure of a justice system of business.
The importance of business ethics are as follows :
Maximum profit: The importance of principles in business can be understand by the fact that moral businesses have a basic tend to make much more profits than the others. The cause for this is that customers of businesses which follow principles are faithful and pleased with the services and product of the businesses. Let us an example. Suppose, there is a business organization named A. Co. which manufactures cosmetics. A. Co. greatly believes in the importance of business principles. When A. Co. advertises its cosmetics in the market, being a principled business organization, it will be ideal and very honest in its communication with the probable customers. It will prove truly about the kind of ingredients it has used while manufacturing the product. It will not lie or overstated about the usefulness of its products. So when the consumers, who buy its product, know exactly what they are buying and how useful that product for them. In this way, the product will meet their needs and thus, satisfy the customers. When customers are satisfied, they will be faithful to the company and come back to purchase there product again. This will surely increase the sales of the organization and increase the profit. Thus, the importance of business principles is that it creates faithfulness in customers.
Utilization of Business Resources:
In a business concern, people working at the junior levels often try
to be like the ones working at the best. The same applies with moral
values too. If the management of an organization follow moral
business Principle, they do not cheat their users or customers, and
also not their business partners etc., the employees also will follow
suit. The employees too will take care himself from using of the
business or office property or equipments for own benefits. This will
make good and real utilization of the business.
Goodwill in the Market: A business organization, which has a very good remuneration in market or well known for its ethical practices, creates goodwill for itself. Investors are also put more money in the businesses because of their Faithfulness of the concern. Thus, the importance of business ethics creates the goodwill and building a long term relationships with the investors which cannot be denied. Also, a fair business policy creates a greater value on its employees and also the employees remain loyal to such an organization. The main target of an
organization is to make maximum profits. The importance of lawful business can be understood from the fact that helps the businesses in achieving its goal of profit making by creating its faith or goodwill for the business in the market, they treys to increase its faithfulness among the customers, with the help of its employee retention and by utmost all utilization of its capital.
Business Ethics in finance:
Ethical business in general, is concerned with human activities that is reasonable or "right" and that is not acceptable or not based on natural morality. True ethical norms include reality, integrity, honesty, respect for others, justice and fairness. They share to all aspects of life, including business activity and finance. Economical ethics is, therefore, a lawful general ethics. Real business norms are very essential for maintaining of social life, where people interact with one to another. In terms of other's needs and fairness, aspirations and supportive efforts to deal with general issues are, for example, aspects of social activities that adds social stability. In terms of social development, we have developed not only an impulse to care for ourselves but also principles to care for everyone. These may happened the situations in which the need to concern for ourselves runs into argument with the need to care for others. In this situation, ethical norms are necessary to guide our moral behavior. The principled dilemma presented by the problem of conflicting interests has been addressed in some financial area, such as corporate governance, by converting the organization relationship into a true contractual connection that uses a carrot-and-stick approach to ensure moral behavior by agents.
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Business Ethics of human resource management:
"'Human resource management" occupies the sphere of movement of recruitment orientation, selection, appraisal of performance, training and development, industrial relations and health and safety issues where ethics is a real matter. The field as operate as surrounded by market interests that commodity and instrumentalism everything in account of profit claimed in the name of owners, it should be expected that there will be contesting claims of "Human Resource" ethics. As expected, ethics of HR management is a contested ground like other sub-fields of business ethics.
In conclusion it is to be said that in every country business or any industry is the backbone of the nation's economy. If we fail to maintain it, the economical growth of that country will be stopped. There may be some business concern who may take some unlawful stapes to earn more profit.
It is true that profit making is the main target of a business concern, but we have to look if the profit is lawful or not. We have to resist them without disturbing the business concern. On the other side every business concern have to aware about their business ethics. They must have some social responsibility and they have to prove it. Otherwise their business will not go smoothly. In this case study I tried to show how a business ethics can influences the society.