Moral principles of management - May 31, 2009
Ethics is a subdivision of philosophy, which deals with principles that reproduce behavior. It’s a set of principles or standards by which human actions can be judged. Ethics is also a study of moral policies that people apply in decision making. According to La Rue Tone Hosmer and Clarence D. Walton, Business ethics is concerned with justice and truth and has a multiplicity of aspects such as the prospect of society, fair competition, social responsibilities, advertising, public relations, consumer autonomy and corporate behavior in the home country as well as abroad.
Types of managerial ethics:
1. Moral Management: Moral managers carry out their activities by detaining themselves to right standards. They achieve the objective of profit maximization by adopting only legal and ethical practices that are beneficial to the organization as well as society.
2. Amoral Management: This management category ignores ethical considerations. Intentional amoral managers feel that ethical standards are not suited to business activities. Therefore, they don’t consider ethical issues in their decision-making. Unintentional amoral managers are reluctant about consider the moral implications of their decisions and actions.
3. Immoral Management: Immoral management ignores ethical standards and may even oppose ethical behavior. Its main objective is profit maximization which has to be achieved even at the cost of being unethical.