Principles of Management: Text and Cases

11

Ethics and Values in Organizations

After going through this chapter, you will be able to understand:

• the concepts of ethics and values

• the steps involved in the implementation of a code of ethics

• the benefits of ethical practices in organizations

• the concepts of stakeholders and ethical organizations

• the way to build an ethical culture in organizations

• different views on managerial ethics

• ethical decision making

Do Not Compromise on Ethics

Ethics and values in organizations have become a focus of the media globally. Enron, WorldCom, Tyco International, and Lehman Brothers are some of the international organizations that came under the focus of the media for not following ethical practices. In India, the most recent case is of Satyam ...