The Significance Of Ethical Policies In Reference To An Organization
Posted by Sarah J Jones | Filed under Business
Within an organization, everything has to be done abiding by some rules and regulations. These rules and regulations help to ensure that all the employees work in an organized manner and make coordinated efforts to achieve the goals of the organization. Every organization has its own set of rules and regulations, which must be followed by all the members of the organization.
But, these rules and regulations, known as policies, are not only restricted to the co-ordination of employees. Actually, rules and regulations for the code of conduct of the employees with each other, their customers and the outsiders also exist.
An organization cannot survive with only one person, and needs other members to make combined efforts for achieving the goals of the organization. These members of an organization need to communicate with each other and the outside world, and thus, proper rules and regulations need to be established, which act as guidelines for the members of the organization to show them how to interact among themselves and with the outsiders.
Ethical policy is the name given to these rules and regulations, which are used to govern the behaviour and interaction of members of an organization with the outside world and amongst them. Ethical policy is necessary for every organization as without this policy, there is no fixed outline for the behaviour of the members, and each individual will act on his own accord and thus, create a communicational disharmony in the organization.
An organization, under which the business of investment financing is carried out, has to deal with numerous customers daily, and hence, an appropriate ethical policy should exist in order to govern the behaviour of the employees in reference to the customers; the operations of the company with regards to its customers are also monitored by the organization.
The ethical policy has a direct influence on the investment of the customers in the company because a company with a strict ethical policy ensures that the employees deal with the customers in such a way that the customers are impressed by the services of the organization; hence, will generally get more customers and thus, more investment.
The actions of the company and its operations are also determined by its ethical policy. A company having an ethical policy, according to which, customers are considered to be the top priority, and the organization do not permit operations which are in violation of simple rights of the customers, for sure attain more success when compared to a company with a weak ethical policy. For example, it is up to the ethical policy of an investment company to suggest whether the company would make good use of the money invested in the company. Just like this, it also refers to the use of the money and its safety.
Hence, an ethical policy is essential in order to ensure smooth working of an organization, and its acceptance and goodwill among its customers. A company with a weak ethical policy, which people can go against easily, will not be able to reach a position in the market that would make sure that the company progresses and becomes successful.
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Tags: Business, business management, Ethical, organizational behavior
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