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5.4

How to retain and motivate high-calibre staff? Empowerment and self-development

People can change place of work because of different reasons, for example it can be ambition of empowerment or inability to realize skills, if a person wants to change abiding-place, or something. It’s obvious that employee stays where there are more benefits for him. Benefits may be different for every worker – for someone the most important thing in his work is stability, for another one is pleasure of working.

To “shake” valuable employees, you can transfer them to other departments and order difficult tasks in unfamiliar areas. Also, almost everyone will be interested in international missions and internships, flexible systems of incentives. I can continue, but first of all you have to ask employee about his wishes and desires, and act, according to responses. Making worker loyal to your company is a permanent process of making him motivated and interested in job, almost from the first step in his career ladder. And when employee announces his desire to leave, it’s vital to keep yourself in the hands, not to make employee feeling guilty or something. You have to act like psychotherapist and discuss with him the problem and the ways of its solving.

So, the main conclusion of the text below, if you want to retain high-calibre staff you have to give them a challenge of the job, so they can realize all their skills and learn something new and needful.

 

6.1

Ethics and morality are classified as philosophical rather than economic terms. However attempts to reconcile the moral and ethnic criteria to business practices are constantly being made. And these two sides of a coin are interesting for my and today I will talk about business morality, ethics and responsibility.

Firstly let`s see basic «for» and «against» in ethical business behavior. Employees should follow the code of good practice in the first place. Under this code they should not use work facilities for private purposes as well, that is to ring in sick, when they are quite well. It is unethical to accept praise for someone else`s work and fake extended lunch breaks. Of course, they must not claim extra expenses, benefiting from their professional duties. In a nutshell, they should be disciplined and honest.

Under the code of business ethics managers should consider all employees as the most valuable assets of the company. They should not get rid of anybody giving a good reference to that person, because everybody they employ is very important. And nobody should be employed without the correct paper work. It is absolutely impossible that any employee could come under pressure from a manager to do anything against the code of ethics.

What about the business responsibility, there are some principles:

1. companies have an obligation not only to shareholders but also by all those involved in the business. business value to society lies in the fact that the business provides the material well-being and employment, plus provides high quality products at affordable prices. companies to play a role in improving the living conditions of their.

2. companies established in foreign countries for the production and trade should contribute to social progress in these countries, providing an efficient operational activities and helping to improve the welfare of the inhabitants of these countries.

3. sincerity, benevolence, honesty and ability to keep the communication enhances the reputation of the company, every businessman has to understand it.

4. businessman must respect the laws.

5. companies should not engage in activities such as bribery, money laundering, they must fight these phenomena.

 

6.2

Economics suggests that business and production do not go hand in hand with environmental and societal ethics, due to the two being mutually exclusive events. Why it is so, can form a subject matter of a thesis so will not be a debate matter for this particular article. This article though, discusses the various ethical issues in the business that affect all business workplaces, whether they are local or international. Let us have a look at the ethical issues in business, that are listed below in random order of importance. In business ethics, there is hardly a proper line which can be held on to like the bible, for ethics often sacrifices profits and the idea is to find the optimal balance between the two, so that the business conscience is clear and the profits are reasonable.

What is Business Ethics?
Business ethics is a behavior that all businesses stick to. Also known as corporate ethics or professional ethics, it incorporates moral guidelines as also the problems a business entity frequently faces. The term 'business ethics' became popular in the U.S. in the early 1970s. The Society for Business Ethics, a global institute that deals with business ethics and application of moral principles was formed in 1980. Businesses started specifying their ethical principles from the late 1980s, perhaps to stay away from scandals in businesses.

In a Free, Unregulated Self-Ethics Model
If business ethics and values are left to the self of business houses and entrepreneurs, society may have many dead weight losses to bear. A few producers can collectively skimp on supply to increase market prices, a few strong buyers may collectively reduce demand till prices fall and a single entity can capture the entire supply chain and refuse its services to the free market and reserve them for the best price. To top it, the labor market can unite and ask for unreasonable increases in wages and the public transport unions can stand up for price hikes. Who decides whether all this is reasonable and hence ethical, or unreasonable and thus unethical? Who says that an earner who earns lower than the minimum wages is entitled to a wage increase even by somewhat unethical measures that require some employer arm-twisting? Who decides that a person who already earns millions in profits is not entitled to reducing worker wages to earn higher margins because it is unethical? See what I mean, ethics changes depending on which side you view them from. What may be absolutely right for you may be a gross injustice for me. So, if the market is left to its own individual mechanics, the most important ethical issue of all will be that all those in strong positions will always be the ones manipulating the weaker ones. This is where business ethics comes in as a self-regulatory mechanism on the stronger players in the economy. Let us now move on to certain routine ethical issues in business that almost every business has to face.

Industry Wide Ethical Issues
Following is a list of industry wide ethical issues in businesses. The problem with these ethical issues is that they are not only routine and frequent, but they are also more widespread, i.e. throughout the whole industry rather than being confined to a particular business.

Bribing powerful officials in order to get bids and tenders accepted and bribing competitor employees to get informational leaks is a serious ethical issue in business. In fact, it is a crime that is legally punishable in most countries today.
Labor related issues like gender discrimination at workplace, employee harassment, minority community participation, working conditions and child labor are also some general ethical issues in business.
Business practices like sourcing of materials, quality of inputs in production, compromising on certain aspects like product quality, safety, etc. and deception in packaging, quantity or size also fall in the purview of business ethics.

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