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What do we understand when we say ETHICS?
Let me try to put things to one plus one about the concept of Ethics
Whenever we talk about ethics, we are talking about what is right and what
is wrong. So anytime people talk about ethics, they are referring to what is
right or wrong.
But the big question is who is right or wrong because the words when used
are always used in a very subjective manner. By that I mean what Mr. A
might considered to be right, Mr. B might consider it to be wrong. So, the
question is who is right or wrong?
For example: Mr. A might consider the public display of those alleged to
have cheated in the WASSCE exams to be unethical, but other school of
thought might say it is ethical.
Also, whenever we talk about ethics, we should underline the
undermentioned.
OUR ACTION
This also includes our saying or what we say.
Our in-actions-
For example: if you see Mr. A who is 25 years of age punching a ten years
old boy along Siaka Stevens street. Is it ethical if you do not do anything to
stop the bullying?
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For examples: your IPAM university has code of ethics like the time you
should be in class, the time to take various examinations, how to file your
complaints etc. Other schools with uniforms have code of ethics that include
the dress that should put on for schooling
How will you know that the standards that are established by managers in a
business or leaders in any other settings are ethical or not.
ACCOUNTABILITY
This simply means that people should be accountable for their actions. In a
business setting for example, if the manager or any other employee or
employer is not accountable for his or her actions then one can say that it is
unethical.
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no person is punished for that then one can say that there is an unethical
behavior that is practiced in that restaurant.
INTEGRITY
This simply means that the employees and the employers must be very
honest in discharging their duties and responsibilities. For example, if the
employers indicate in the employment manual that they will raise the
salaries of employees every year. If at the end of the year the employer fails
to raise the salaries, then that will be considered as unethical behavior.
Another example: Lack of integrity- If I send out a memo that I will give
Le1,000 to Mr. A on the 31 October 2019. If on 31 October 2019, I failed to
deliver on my promise then that could be considered unethical behavior
because I was not honest, or I lied about not doing what I promised to do
Last example- those students and teachers that were arrested for cheating
on the WASSCE exams could be considered as unethical students and
teachers because they lied about been real students and teachers.
Also, if there are laws whether implied or explicit to sanction the behavior of
those students and if the students and the teachers are not punished for
their actions then it means that there are unethical behavior on the part of
the enforcers of the laws or those who are charge with the responsibility to
supervise the schools.
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CONFLICT OF INTEREST
INSIDE TRADING
This is another form of unethical behavior. This usually occurs when officers
or managers pass on confidential information or inside information that
enables shareholders or other stakeholders of the company to have an unfair
advantage over other stakeholders.
Stakeholders are those dealing with the company while shareholders are the
owners of the company.
Let us assume that the company will report a loss of two billion dollars for
that quarter and that the CFO and other Key officers will quit the business.
Let us further assume that the company market price on the New York Stock
Exchange is $100 per share. If the company report that bad news, there is no
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doubt that the market price of the shares of the company might drop from
$100 per share to around $70 or less per share.
Because of the above, if investor D has 1,000 shares at the time when the
company share price was $100 per share then it means investor D investment
was $100,000.
If the price of shares falls to $70 per share, then it means investor D
investment will drop to $70,000 which is a loss of $30,000.
So, if the bad information is passed on to any of the outside investors or the
officers who have already been briefed of the report sold their shares at $100
per share before the reporting day then that is considered as inside
information which is unethical
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