Ethics in management represents a conflict between the economic performance and socialperformance of an organization. Briefly elaborate this statement by giving
Example: To reduce operating cost a company should reduce labor cost. Reducing laborcost means reducing the number of employees by terminating their service. But, terminatingemployees service will cause social problem, that is, unemployment. Therefore, a conflictarises between enhancing economic performance and creating social problem.
Ethical codes are a list of statements containing the norms and beliefs of an organizationpublished and distributed to all members of the organization. Are ethical codes reallynecessary? Why?
Yes (in many instances), because it contains obligations by organization to each of theorganization’s constituents. It also contains the norms and beliefs of an organization whichthe employees are obliged to follow.
What is the difference between “
equal pay for equal work
” and “
equal pay for comparable
Equal pay for equal workPeople performing the same kind of work must be paid the same salaries
Equal pay for comparable workPay the same salary if it can be demonstrated that jobs involving differentresponsibilities require the same relative level of education, skill, knowledgeand experience