Assignment Task - Create presentation that explores professional ethics and responsibilities. In your presentation, address the following topics:
- Professional ethics and responsibilities of intermediaries;
- Professional ethics, responsibilities, and loyalty of managers; and
- Professional ethics and responsibilities of employees to the community.
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Answer - Managerial Ethics
Ethics in Business
Ethics are an essential part and requirement of any business organization. They are a framework of ethical practices which are to be followed by the organization to ensure that the organization does not do anything wrong or indulge in any malpractice.
Ethics in an organization are governed by both personal and professional compliances and should never be compromised for nay form of success of gain (Brimmer, 2012).
It is exceptionally important that the employees of the organization are always made aware of the importance of ethical practices and how they are required to follow them.
Professional Ethics and Responsibilities of Intermediaries
Following are the professional ethics and responsibilities of intermediaries in any organization:
- Responsibility towards their clients
- Responsibility towards the organization (Kimberlee, 2019)
For example, as an investment broker, my responsibility towards the clients is to inform them about their investment completely in the start of the investment and during its cycle. And towards the organization, it is essential for me to bring good business and not indulge in trade malpractice such as exchanging information for money.
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Professional Ethics, Responsibilities, and Loyalty of Managers
Managers are the driving force of the organization since they connect the lower level employees to the top level management. Hence, their responsibility and ethical considerations are of extreme importance to the organization.
Few of these responsibilities are:
- Loyalty towards the company
- Set example of ethical behaviour for the employees
- Help employees in making ethical choices
- Instill character in people by showcasing or being an example
Professional Ethics and Responsibilities of Employees to the Community
Organizations and employees are responsible towards the society as they use their resources in several ways. Hence, there are several ethical considerations which are to be followed.
- No malpractices against the public such as financial frauds of scams
- Not selling poor quality of products which may be harmful
- Not disclosing false information to the public for investment purpose (Nicoterra, 2010)
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