Stratetic Management - Code of Ethics

Running Head : STRATEGIC MANAGEMENT - CODE OF ETHICS

Strategic Management - Code of Ethics (Your Name (Your School

Introduction

Ethics in management is one of the most important components of a successful organizational management . Ethics is a fabric that holds any community together , be it a business community or any other community . Business ethics can be described as a form of applied ethics which integrates ethical and moral principles in the process of running a business . It is important to the conduct of all stakeholders and to the conduct of the business organization

in its day to day running . In the modern conscience-focused marketplace , the demand for business ethical practices is increasing . The advancement in business management and the rise of strategic management demands the inculcation of business ethics in the overall decision making process of the organization . While corporate managers have been bestowed with the responsibility of managing a business organization on behalf of other stakeholders , it is imperative they ensure application of ethical principles in the decision making process . However , the current scandals involving Enron , Martha Stewart , WorldCom , and others have illustrated detrimental effects of managerial failure to adhere to ethical code in making strategic decisions for an organization . Business ethics has an impact on the overall success or failure of business organizations . In running an organization , making an ethical decision involves a number of steps from gathering of facts , analyzing dilemmas , considering moral argument , and applying moral principles . However , it is lack of moral awareness in this process that...