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INTRODUCTION:
Ethics in management is the discipline which works with what is good or bad and with moral duty and obligation. According to Clarence Walton-Managerial ethics is concerned with truth and justice and has a variety of aspects such as expectations of society , Fair competition , advertising, public relations, social responsibilities, consumer autonomy and corporate behavior. Koontz and Weihrich say, In organizations, managers complete for informations influences and resources, The potential for conflicts in selecting the ends as well as the means to ends is easy to understand and the question of what criteria should guide ethical behavior become acute. To develop an ethical infrastructure in the organization so many efforts are required. It is not only that top executives are saying, talking advising to follow ethics, so it would be followed. There are some techniques, procedures and steps by which a company can develop ethical corporate behavior.
GRIFFIN EXPLAINED SOME SPECIFIC AREAS WHICH AFFECT MANAGERIAL WORK LIKE: (A)Organization towards employees: It covers the areas of Wages, working condition, hiring and firing and employee privacy. (B)Employee towards organization: How employees treat the organization. So many ethical issues are involved, whether any decision which is being made in the favors of employee and against company. Whether employees maintain honesty and secrecy level or just sell it for their greed. (C) Organization towards other economic institutions: How far organization is fair with its treatment towards other economic agents like stakeholders, suppliers, competition, customers and dealers.