The word ethics refers to how you do something or treat others and when we talk about the different types of management ethics, we refer to how a person refers to other people and how he treats those around him. When it comes to talking about types of management ethics we refer o how a person treats employers, employees, stockholders and other people who have anything to do with a business or its functionality. Ethical behavior and management is what helps attract more people to a company because they would like to talk to people who manage ethically.
One of the many types of management ethics is social responsibility where the company manages its resources in a way that it takes social needs and disciplines into account. In these types of management ethics the business knows of the need to maintain a balance between business and the way profits and funds are earned because of which this balance is struck. Where these types of management ethics are concerned, the goals are long-term, funds are managed carefully and keeping certain goals in mind. These types of business goals always make a business successful and popular choice amongst the masses.
There are also those types of management ethics where the company or business involved takes social responsibility into account and makes its policies accordingly. This is known as social responsiveness and in these types of management ethics the company considers the effects that their policies would have on others in the company and on the market and society and it then, decides upon how to adjust its policies if the need to do is there and if it is felt. Nowadays many companies are shifting towards the manufacture of eco-friendly and ‘green’ products because they understand the importance of the need for such products in the world of today.
Social obligation is another of the various types of management ethics where the company is not interested in meeting its social responsibilities and duties but it merely adjusts its policies so that it can meet its legal requirements but that is about it. It does not take its social responsibilities into account and does not care for the effects of its policies upon the environment as such either. The only consequences it considers are its legal ones.
Then there are those types of management ethics in which the company shows no regards for anyone or anything and merely works for its own good. It works without considering its consequences and that is why usually these types of management ethics frequently get such companies into trouble where the law and society are concerned. Most companies do consider their responsibilities and the various consequences their actions and ethics would have on society and those that haven’t have had to face the consequences in the past.
A number of companies in the past have also last a large number of customers because of their neglect towards their social and environmental responsibilities and other important ethics of the sort.