Managerial ethics

Managerial ethics are the standards of behaviors that guide individual managers in their work.

 Managerial ethics are standards of conduct or moral judgment used by managers in carrying out their business.

Such standards arise from the general norms and values of society: from an experience within family, religious, educational and other types of institutions; and from interpersonal interactions with others.

Therefore, managerial ethics may differ among individuals. There are three basic areas of concern for managerial ethics. These are the relationships of the firm to the employees (hiring and firing, wages and working conditions and employee privacy), the employee to the firm  (conflict of interests, secrecy, and honesty in keeping expense account) and the firm to the other economic agents (Customers, competitors, stockholders, suppliers, dealers, and trade unions).

There are three basic areas of concern for managerial ethics.

These are the relationships of the firm to the employees (hiring and firing, wages and working conditions and employee privacy), the employee to the firm  (conflict of interests, secrecy, and honesty in keeping expense account) and the firm to the other economic agents (Customers, competitors, stockholders, suppliers, dealers, and trade unions).