1. Business Ethics
Professionalism & Ethics in Management Consulting.
consumers always take into account a company's ethics or values when buying a product or service." EOA News- Fall 1996 Article.
With the recent public scrutiny of Arthur Anderson and the scramble to keep their organizations afloat, many consulting corporations are struggling to assure the public that they have a clear plan that holds those accountable for unethical behavior. Yet, before an individual can be held accountable for their unethical actions, there must be a foundation with an ethical climate. An optimum way for managers to achieve a desired ethical climate is to incorporate an ethical code into the organization's core values. .
According to the World Reference English Dictionary, ethics is "the philosophical study of the moral value of human conduct and of the rules and principles that ought to govern it." The root word for Ethical is the Greek "ethos," meaning "character" (Pickett, 2000). In essence, ethics has to do with what's right and wrong.
The nature of consulting puts management consultants face to face with ethical matters on the daily basis. These matters include professional independence, conflicts of interest, skill and competence, confidentiality and reasonable care. In 1968, the Institute for Management Consultants USA, Inc (IMC USA), introduced its now widely accepted code of ethics. Since its introduction, the code of ethics has been modified and is consistent with the International Code of Professional Conduct by the International Council of Management Consulting Institute (ICMCI). According to IMC USA, the code of ethics "signifies voluntary assumption of self-discipline" and highlights how the consultant will conduct business in the following areas:.
Client.
Engagements.
Fees.
Profession.
Although the code of ethics are not mandatory for all consultants to adhere by, without these professional standards, the modern economic assumption that individuals and businesses in society always pursue their own self-interest or private economic incentives will prevail over ethical and moral consideration.
What part does the management, directors and shareholders of the company play? ... Deloitte, Ernst & Young, PwC & KPMG have sold off their consulting divisions and have indicated that they will no longer provide internal and external auditing to the same client . 3.0 Management The duty to prevent fraud primarily lies with the management of the client. ... After all auditors are working for the shareholders not the management. ... It is critical that companies instill more professionalism and transparency in the corporate governance structure. ... The ultimate failure of Enron may b...
., the Greek physician Hippocrates developed a level of professionalism for physicians. This oath, still is used today and is known as the Hippocratic Oath, was set up and designed for physicians to practice medicine with the obligations of the promise to help patients with professionalism and with proper conduct and does not permit the concept of assisted suicide. ... He truly believed that ethics and death comes hand-in-hand in relieving the suffering of those who need compassion the most. ... But for those patients who are suffering and are seeking hospice care and pain management medicine...
Introduction Any organization in business cannot afford to stand still. It must improve its ability to deliver higher quality goods and services at competitive prices or it will go out of existence. This trend has resulted in emergence of World Class Organizations (WCOs), in which enterprises can compete effectively on a global basis. This does not mean the organization has to do business in an international level. However, if a Multi National Enterprise (MNE) sets up operation locally, the WCO must be able to compete effectively or if it is a supplier, it must make a competitive bid to suppl...