10 business ethics every manager should possess

A manager is the biggest asset of any organisation as he is the real decision maker for the organisation and he can make or break an organisation. Apart from exploiting his knowledge and expertise, a manager needs to exhibit business ethics at all times to close the deals, get the work done effectively and to ensure a long-term relationship with the clients, which in turn, ensures a successful-run of the business. Here are 10 business ethics/ values that every manager must possess to succeed in his tasks.

1.     Integrity

It is integrity that lays the foundation of a long-term relationship. A manager is a leader for his team members, so he should exhibit honesty and integrity at all times. The team members must have complete faith and trust in the dedication, honesty, commitment,actions of their manager and follow him without a doubt. So, the managers must be honest, open and consistent in their actions in order to win the trust of their subordinates.

2.     Willingness to take the risk

The managers must be risk takers. They should have the ability to analyse all the options carefully and be bold enough to take calculated risks. In fact, the managers must be ready to take risks, learn from their mistakes and take on the impending challenges audaciously.

3.     Optimism and Enthusiasm

The task of a team leader is to inspire his team members. He should be enthusiastic enough then only he can motivate his team members. Furthermore, he should have a positive attitude. A manager should know how to get things done and he should be solution-oriented. Maintaining a positive attitude in the workplace keeps everyone inspired.

4.     Commitment to Growth

The process of learning is never-ending. So, a manager should always be in the process of learning in order to grow both professionally and personally. A manager should be well acquainted with the ongoing trends in the market and should get himself as well as his team accustomed to cutting-edge tools and techniques.

5.     Vision and Pragmatism

Setting goals is the key task of a manager. A manager must create a detailed plan and avoid ambiguous and vague vision. It is the task of a manager to ensure that he sets realistic goals. A manager must have the ability to articulate his vision clearly-to all his team members. He should be practical in all the decisions that he makes.

6.     Responsibility

A leader at all times should take full responsibility for all the actions performed by the team. He should stand firmly beside the commitments that he makes and never let his team down. A manager should also refrain from putting the blame on any team member and rather be accountable for the team.

7.     Law Abiding

There are certain laws and regulations that need to be followed while performing business activities. Thus, the managers must be accustomed to all the laws pertaining to the business and they should abide by them.

8.     Fairness

A manager should carry out all the dealings with the utmost level of fairness. Neither he should use indecent means to gain advantage nor should he take undue advantage of other’s flaws. He should treat everyone in the team equally and never be biased towards any team member. At all times, a manager must be just, open-minded and ready to accept his faults.

9.     Respect for others

A manager must respect the thoughts, rights, privacy, interests, perspectives of all the team members and the people who have a share in his decision. He should treat everyone equally irrespective of their cast, creed, race or origin.

10. Commitment to Excellence

Organisational efficiency should be the prime aim of a manager. He should perform all his duties with excellence and ensure that he is prepared and well informed at all times. A manager should constantly endeavour to enhance his skills.

Merely completing a managerial course is not sufficient to do full justice with the job of a manager. You need to master business ethics to seal the deal and shine in the field. These were some of the ethics that are exhibited by successful managers. At MIT School of Distance Education (MIT-SDE), we instill these business ethics in all our candidates so that they are immediately absorbed in the industry after course completion.