why should a business ethics course be us diversity

The Ethics of Diversity offers guidance on how boards can get ahead of the curve on all dimensions of diversity to achieve more inclusive and successful corporate cultures through strategies that embrace and value diversity of thought and experience.

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What is the importance of diversity and ethics in an organization?

Hofestede, (2003) revealed that diversity and ethics among the people in the organization promotes creativity, innovation and problem solving, efficiency and effectiveness. This means the sharing of different ideas and perspectives.

Why diversity training is important for your business?

To handle such issues, many companies incorporate diversity training in their training agenda. Diversity training is an initiative taken by most companies to create awareness of diversity issues and bring about cohesiveness in teams.

Does your company have a good business ethics program?

According to the 2018 Global Business Ethics Survey (GBES), less than one in four U.S. workers think their company has a “well-implemented” ethics program. Business ethics is an essential skill. Almost every company now has a business ethics program.

Why teach ethics in business schools?

With more exposure of unethical business practices, such as Enron, coming to light and their effects impacting citizens in all walks of life, teaching ethics is a key component in more business schools across the country.

Why is ethics important in business?

Business ethics help ensure a good reputation for your company. Not only does it feel good to be part of a company with a great reputation, but it’s great for business. When you have a reputation for consistently being ethical in how you source and build products , and treat employees, customers and the community, more people will want to do business with you. Even social media ethics is important for your reputation.

Why is it important to practice good business ethics?

Businesses that practice good business ethics face less risk for fines and other legal trouble. Sure, the law and regulations are complicated, but a lot of trouble can be avoided just by doing what’s morally right. If business decisions are made with that in mind, you can save the stress of having to defend your company against lawsuits and fines.

Why is it important to have good ethics?

If you’re a business owner or manager, it’s important to lead by example. When employees see you make ethical choices, it lets them know that they can have confidence in the company; they know that you’ll do right by them and your customers. This boosts morale and as word spreads about how you treat employees well, you’ll draw in good workers. Having strong employee retention rates will help you save money over time on recruitment costs and training.

Why is social media ethics important?

Even social media ethics is important for your reputation. This means you’ll appeal to a variety of people and organizations that will be great for boosting your business such as: Clients and customers who believe in your company and want to support it. Trade and community organizations who want you as a member. ...

What are the benefits of a business?

This means you’ll appeal to a variety of people and organizations that will be great for boosting your business such as: 1 Clients and customers who believe in your company and want to support it 2 Trade and community organizations who want you as a member 3 Investors who want to help your business grow 4 Communities that want to host your business or events 5 Other businesses that want to partner with you 6 Newspapers, magazines and other media who want to offer you special recognition

Is ethics important in personal life?

In your personal life, you might not give much thought to the importance of ethics exactly. You just try to do what’s right. But just like making those moral judgment calls can have a major impact on your life, they can affect a business’s success in big ways.

What is the ethics of diversity?

The Ethics of Diversity offers guidance on how boards can get ahead of the curve on all dimensions of diversity to achieve more inclusive and successful corporate cultures through strategies that embrace and value diversity of thought and experience. Such strategies can also break down the barriers that marginalised groups face within and outside organisations. The report concludes with a series of 10 recommendations as to how a board can embrace cognitive and experiential diversity and unlock the sustainable business benefits that will flow.

When was the Ethics of Diversity report published?

This post presents an overview of a recent report from the UK’s Institute of Business Ethics, entitled The Ethics of Diversity, published on 17 th December 2020. It is based on comments I made at the webinar to launch the report, of which I am lead author.

Why has gender diversity not been seen consistently?

The report argues that improvement has not been seen consistently because a compliance mindset in simply meeting diversity targets is not enough.

Why is the changing collective skill set of the board considered amidst calls for more health professionals on boards?

The changing collective skill set of the board is considered amidst calls for more health professionals on boards and the need to ensure the management of other systemic risks such as climate change. All of this should be factored into board succession plans as boards face a new and much more challenging landscape.

What is diversity themed investment?

Diversity themed investment funds, including in equity and through social bonds, are also focusing efforts and driving demand. The vital role that executive search firms play in improving diversity is considered as well as the increasing demands of all stakeholders.

What is Chapter 3 of the Business Case?

Chapter 3 looks at whether the focus on gender diversity has delivered on its full potential. The traditional business case for diversity is explored, including evidence of corporate outperformance when adding women, or members of any under-represented group, to boards and executive teams. Evidence from McKinsey, Credit Suisse and others is considered in this regard, as well as the challenges of causation and correlation.

How does diversity help the organization?

This will help to build an inclusive culture and promote opportunities for all employees to fulfil their leadership potential, regardless of for example, gender, religion or race.

What is diversity in the workplace?

The Equality and Human Rights Commission defines diversity as. where many different types of people are included. Workplace diversity relates to age, disability, gender, race, religion and belief, sexual orientation and other "protec ted characteristics" identified in the UK Equality Act 2010.

What are the barriers to women's employment?

The McKinsey research similarly highlights the two key barriers for women: the burden of juggling work and domestic responsibilities along with the demands of senior management requiring an 'anytime, anywhere' workload. There is fierce debate about whether setting quotas on the number of women on boards is the best way forward. Norway was the first country to pass legislation introducing quotas and to introduce sanctions for non-compliance after voluntary quotas failed to achieve a sufficient increase in the number of women reaching board positions. Proponents argue that quotas allow competent women to get jobs that they would otherwise automatically be denied and have a significant impact on the "pipeline" of women being promoted through companies to senior management positions. Opponents claim that quotas cause ill will in the boardroom and promote women who are less qualified or competent than the best male candidates. Lord Davies decided against recommending quotas in the UK but stated that

Why is diversity important in the boardroom?

Diversity in the boardroom sets a leadership example and sends a powerful signal to all employees about the company's approach to equal opportunities.

What is the purpose of the diversity briefing?

This briefing examines some business ethics issues and the challenges of achieving a diverse board. It presents the relationship between business ethics and board diversity; the current global context of board diversity and the case for board diversity. Using good practice examples it shows to achieve a diverse board.

Which law firm found that better performing companies tended to have a higher percentage of female directors?

A 2011 report by international law firm Eversheds found that better performing companies tended to have a higher percentage of female directors and that this was particularly the case in the UK. 10

Is diversity good corporate governance?

In addition, the reference to board diversity in the UK Corporate Governance Code demonstrates that diversity is one element of good corporate governance. Good corporate governance is an essential foundation for achieving a strong ethics culture within an organisation. According to Matthew Fell, Director of Competitive Markets for the Confederation of British Industry (CBI),

Why is diversity important in business?

Diversity strengthens the company’s internal relationships with employees and improves employee morale, as well as its external relationships with customer groups.

How can diversity help companies?

To achieve improved results, companies need to expand their definition of diversity beyond race and gender. For example, differences in age, experience, and country of residence may result in a more refined global mind-set and cultural fluency, which can help companies succeed in international business. A salesperson may know the language of customers or potential customers from a specific region or country, for example, or a customer service representative may understand the norms of another culture. Diverse product-development teams can grasp what a group of customers may want that is not currently being offered.

What is organizational diversity?

According to the Society for Human Resource Management (SHRM), organizational diversity now includes more than just racial, gender, and religious differences. It also encompasses different thinking styles and personality types, as well as other factors such as physical and cognitive abilities and sexual orientation, all of which influence the way people perceive the world. “Finding the right mix of individuals to work on teams, and creating the conditions in which they can excel, are key business goals for today’s leaders, given that collaboration has become a paradigm of the twenty-first century workplace,” according to an SHRM article.

Why are some employees slow to come around to a greater appreciation of the value of diversity?

Some employees simply are slow to come around to a greater appreciation of the value of diversity because they may never have considered this perspective before. Others may be prejudiced and consequently attempt to undermine the success of diversity initiatives in general.

What is inclusion in the workplace?

Inclusion is about the container—the place that allows employees to feel they belong, to feel both accepted and different. ”. Workplace diversity is not a new policy idea; its origins date back to at least the passage of the Civil Rights Act of 1964 (CRA) or before.

Why is equal representation important in employment?

Achieving equal representation in employment based on demographic data is the ethical thing to do because it represents the essential American ideal of equal opportunity for all. It is a basic assumption of an egalitarian society that all have the same chance without being hindered by immutable characteristics. However, there are also directly relevant business reasons to do it. More diverse companies perform better, as we saw earlier in this chapter, but why? The reasons are intriguing and complex. Among them are that diversity improves a company’s chances of attracting top talent and that considering all points of view may lead to better decision-making. Diversity also improves customer experience and employee satisfaction.

How many companies have pledged to increase diversity?

More than thirty technology companies, including Intel, Spotify, Lyft, Airbnb, and Pinterest, each signed a written pledge to increase workforce diversity and inclusion, and Google pledged to spend more than $100 million to address diversity issues.

Who agrees that ethics are inside a person before they ever walk into a college classroom?

Both Boardman and Bakhsheshy agree the basic principles of ethics are inside a person far before they ever walk into a college classroom. That being said, you can teach, through case studies, how to practice and look at ethical behavior.

What was once taught that a businessperson's only responsibility was to make money?

It was once taught that a businessperson’s only responsibility was to make money. Bakhsheshy adds, “There was no accountability. Businesses were immune because no one was being held accountable.”. Now it’s essential to show students the rewards of doing business ethically while still achieving financial reward.

Why do companies need diversity training?

Diversity training is an initiative taken by most companies to create awareness of diversity issues and bring about cohesiveness in teams. It is primarily a part of the leadership development programs to promote togetherness and level playing field ...

What is the goal of diversity training?

The goal of diversity training is to make employees understand that even if there are differences amongst the team members that they are working with, a little adjustment in one’s attitude will make for an extraordinary team.

What is awareness based training?

Awareness-based training: This type of training is generally used as a sensitizer for employees. It deals with making employees aware of the importance of diversity in business. It also makes employees aware of their prejudices and cultural assumptions about others. The training uses case studies and experiential exercises as the method ...

What is diversity in the world?

Apart from color; diversity includes gender, race, religion, caste, and disabilities. Although these are important and most commonly discussed diversity aspects; people may show diversity in terms of personality types (introvert or extrovert), attitudes, values, family background, and willingness to take risks.

How to bring out the best in your workforce?

To bring out the best in your workforce, you need an inclusive environment. In this age of globalization, when we work on multi-faceted projects, we have to think above the conventional diversity aspects of gender, race, caste, creed, and disabilities. We have to choose a team based on a value system that will decide the individual’s capacity to adjust, accommodate, understand, and cooperate in addition to his/her professional acumen.

When did diversity training start?

Diversity training started in the1960s in response to civil rights movement. This laid the foundation for a black and white equality in the workplace or for that matter, anything that required teams to work together, even sports.

What do technical people need to know?

A technical person will need to know the very factors that make a project successful. Similarly, a human resources person will need to know how to bring out the best performance from the project team. Both these aspects go hand-in-hand to build the company’s reputation.

How does diversity help the workplace?

A Glassdoor survey found that “57% of people think their company should be doing more to increase diversity among its workforce”

Why is Diversity Good & Important?

Diversity is good, especially good with tangible benefits. There are many benefits of Diversity in the workplace. With the above, it further translates the benefit to tangible ones:

Why we want diversity?

Diversity can bring many benefits to society, the workplace, and communities. Example of the benefits are from [ Why Diversity is Important? ]:

What is diversity in simple words?

Diversity refers to the existence of variations of different characteristics in a group of people such as gender, age, culture, religions. More comprehensive diversity definition on Diversity Social.

How does diversity and inclusion affect the world?

Having diversity and inclusion will improve the balance of opinions, views in any setting. A well-balanced world will accept different opinions and reduce fears towards differences. A well-balanced world can also improve the average cultural competency in the society.

What countries have cultural diversity?

Opening up Productivity power. Cultural diversity is very popular in western countries such as the USA, Canada, Australia, New Zealand. New immigrants move into these countries every day and become part of the community. A diverse working environment welcomes hiring diversity, and logically when you are more open to more candidates regardless ...

Why do people become less discriminating?

You tend to become less discriminating because of your new world experience. The citizen in the society

Is ethical warmth a glossy veneer?

The glow of ethical warmth often turns out to be a glossy veneer.

Is marketing perversive?

He acknowledges this precarious line and accepts its challenge. “Marketing has, so far, been used in quite a perversive way, and has caused a lot of negativity, but perhaps someone needs to get to the nitty gritty stuff and use these things in a different way… You could say that the internet is used for lots of ills in the world. But it’s also used for lots of good. Sometimes you have to work with the instruments or the apparatus you have available, to create the outcomes you want to see in the world. It’s a challenging one.”

Is it easy to take an ethical stand?

But taking an ethical stand isn’t as easy as it seems. Where the lines are drawn, how seemingly impossible ethical dilemmas are solved, and how to reconcile commerce and altruism are among the issues that arise for companies who decide to pursue “purpose” as part of their business.

What is the basis of diversity?

The various diversity in the society focuses on the multiplicity of differences among people – on the variety of people as heterogeneous grouping. Individual differences in the society are the basis of diversity. Individual differences and diversity have been recognized as important for effective team performance but in recent years greater attention has been given to the management of societal diversity. Therefore, diversity Management can be defined as the process of planning, directing, organizing and applying all the comprehensive managerial attributes for developing an organizational environment, in which all diverse employees irrespective of their similarities and differences in the society, can actively and effectively contribute to the competitive advantage of a company or an organization.

What is diversity management?

Diversity management is a strategy to promote the perception, acknowledgement and implementation of diversity in organizations and institutions. Diversity management is based on the idea that diversity opens up alternative ways of perceiving, thinking and acting and thus enriches the life of an organization or any establishment. Human beings differ in age, social and national background, gender, sexual orientation, physical and mental ability as well as religious belief and worldview. Diversity is a source of creativity and innovation that can provide the potential for future development and competitive advantage. Ensuring that diversity and ethics behavior in an organization is made visible and fruitful remains a central concern of diversity management. In doing so, individual and structural representation of perception and appreciation may be reflected upon. Managers have to perform many roles in an organization and how they handle various situations will depend on their style of management. A management style is an overall method of leadership used by a manager. However, there is no particularly accepted style of management, but styles that lead to increased staff motivation, job satisfaction, ethical behavior and productivity should be encouraged. While those that have the opposite effect should be discouraged. Managers in most organizations commonly strive to encourage ethical practices not only to ensure moral conduct but also to gain whatever business advantage there may be in having potential consumers and employees regard the company as ethical. Creating, distributing, and continually improving a company’s code of ethics is one usual step managers can take to establish an ethical workplace and in doing so the mind set of administrators change to accept innovations.

What is organization ethics?

Organization ethics which originated from the society, means more than simply passing moral judgment about what should and should not be done in a particular situation. It is part of the conscious decisions you make about the directions you want your organization to take. It is a like between morality, responsibility and decision making within the organization.

What is culture in an organization?

Therefore, culture is the pattern of values, norms, beliefs, attitude and assumptions in the society that may have been articulated but shape the ways in which people in organization behave and things get done. In other words, culture is a unique configuration of norms, beliefs and ways of behaving that characterize the manner in which groups and individuals combine to get things done. The behaviors and actions of top management help to project and sustain the desired type of behavior for all in the organization.

How to attract a broader or wider talent pool of employees?

For organizations to attract a broader or wider talent pool of employees, it needs to embrace an organizational culture of societal diversity and ethics. This will lead to an enhanced corporate reputation and strengthened cultural values. According to Childs, (2005) diversity is a global workplace and market place phenomenon. Therefore, for an organization to be successful it must have a borderless view and an underlying commitment to ensure that diversity is part of its day-to-day business conduct. The elements are;

Why are ethical concerns important?

Ethical concerns are an important area in business practices and research endeavors in the field of management. In particular, ethical concerns become evident in situations of a symmetric relationships across organizations. The need of the hour is to establish ethical codes, processes and performance measures in today’s corporate houses. In a prior research restricted parts of this idea across the organizations have been addressed from an ethical perspective but not the whole process (Moberg, 2003; Geraint, 2003; Kidd, 2003; Carter, 2000; Cooper et. al, 1997; Stainer, 1997). Nevertheless, there have been a few recent research that is dedicated to the ethical concerns in organizations as a whole. For example, Svensson & Baath, (2008) introduced and described a conceptual framework of organizational ethics based upon the automotive industry.

How does education contribute to the success of an organization?

The knowledge acquire from the society by people, contribute to the success of any organization because education is the key that unlocks the forces of economic development . The quality efficiency and structure of industrial organizations are determined by the quality of the people who are there. It is believed that the level of education in a country directly influences the performance of organizations in that country. So, managers need to develop strategy to manage the people with different qualifications in the organization for efficiency and effective performance. Education emphasizes the need to develop a skilled and flexible workforce in order to compete in the twenty first century. Issues which challenge the human resources management are many and these issues are best solved using the educational system. Recent examples from Nigeria educational system have shown that it is the type and depth of knowledge that is paramount in education meant for industrial enterprise. There is no country that can develop technologically without quality education. The quality of education is significantly more important than mere quantity.

Business Ethics and Diversity

See more on ibe.org.uk

Current Situation

The Case For Board Diversity

Achieving A Diverse Board

Good Practice

Further Reading