Ethics in management

Ethical behaviour is concerned with actions that are in accord with cultural expectations relating to morality and fairness. Organizations as well as individuals have an obligation to act ethically and the penalties for unethical behaviours can be severe and unpredictable. For young professionals, a thorough understanding of the concepts of ethics, and the potential ramifications of unethical behaviour in business is essential in the modern workplace. This article explores the concepts of ethics, and provides some guidance for young professionals in developing habits of good ethical behaviour and in dealing with unethical behaviour should it be encountered in business. The article is based on personal experience, aided by reference to published expert opinion.