The topic that I have drafted for this Capstone project is “Ethics in all aspects of management (Virtuous Business model)”. An ethical business only can flourish and stand permanent in the market till the end. So, it is very much essential to build a strong ethical behavior within the organization. Once a strong ethical behavior is established with in the organization then there won’t be any crooked way of doing things. When all the ways of the business are straight forward then the company is sure to be accepted and approached by people of all strata.
The reason why I chose this topic is that to make a mark on the importance of ethics at the management level and how it plays a vital role in taking the business forward. I also have included “Virtuous Business model” to clearly insist on the need of virtuous leader in an organization that values moral. Virtuous Business model is very much related to ethics, through which the importance of ethics can be well understood.
“The Virtuous Business Model encompasses both the virtuous leader and the moral organization. The model consists of three aspects of virtue: being, knowing, and doing”.
In the absence of ethics, the quality of the product drops, the marketing of products will not be trustworthy, the business won’t be loyal, the business loss the trust of shareholders, pricing will be high for the products to get maximum profit and also there will be security issues within the organization.
In the light of ethics, I would like to discuss how the business deviate from their quality standards because of their greed to capture the market. I also would like to discuss the problems that arises in various department of the organization because of the non-ethical way of doing things, and also how the Virtuous Business model led an organization to success. Finally, I also have few suggestions and recommendations as to how the organizations should follow the ethical behavior and be successful in business for a long run. Ethics can be a cost effective and permanent solution to run a virtuous business (where the “Virtuous Business model” shows the way of doing it).