Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks
February 7, 2025
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What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]
How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]
Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]
In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]
Ethics Management Programs are designed by an organisation or an employer as an attempt to have formalised structures for ensuring the organisation is perceived as fair, honest, responsible and just.
Ethical programs globally are designed keeping four things in mind:
Many of you may ask why we need ethics management programs when you already have policies and procedures in place that define behavioural standards. Ethics programs are designed to ensure that there is no deviation from the standards laid down and also to ensure that employees are fair and honest in their conduct to the organisation.
The benefits of ethics programs include decreased misconduct and additional defence to the organisation against complaints from the employees, when the latter perceives that the organisation is being unjust to him/her. However in order for the ethics programs to be successful managerial support and role modelling is very important. In fact there is a whole body of research that proves that organisations are increasingly documenting their ethics programs to align behaviours within the organisation and also going ahead to develop systems for implementation of the same.
Implementation of ethics programs is a clear example of organisations being very clear in communicating what they expect of the employee relationships. Many organisations have adopted innovative ways of communicating and continuously reminding employees what is expected. Lockheed Martin, for example, distributes a calendar and a computer screen saver outlining the organisations 12 building blocks of trust! Texas instruments, similarly uses training programs and distributes a 14 page booklet to convey the standards for ethical behaviour.
We thus see that honesty, fairness and ethics programs are prerequisites to the employment relationship. There are other actions also that help better the employment relationships. Certain actions are possible at the time of entry like flexible work arrangements (flexitime, job sharing, compressed work weeks), induction and orientation that are very convenient means of conveying the ethical policies.
Ethics programs thus benefit organisations in many ways, one they help lay down standards of behaviour and second they help in clear communication of the same. This prevents the employee plead on condition of ignorance, which is not the case with the manual containing policies and procedures that are hardly known to any of the employees.
Organisations have now realised the importance of having ethics management programs. Unlike the belief held earlier that it only helps the employee, the belief is gaining more ground that ethics programs are equally beneficial to the organisations. No wonder more and more number of organisations are implementing these programs for the greater benefit of their own, the employees and most importantly the employee relationship.
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