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Business Ethics 1st Edition by Andrew Wicks,Edward Freeman,Patricia Werhane,Kirsten Martin
Edition 1ISBN: 978-0131427921Business Ethics 1st Edition by Andrew Wicks,Edward Freeman,Patricia Werhane,Kirsten Martin
Edition 1ISBN: 978-0131427921 Exercise 1
What character traits does the firm (or managers) need to be successful over time?
Explanation
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Rather than acting as a hindrance to success in business, ethically admirable character traits can actually be long-term contributors to success. For example, most cultures value bravery, and courage is useful in adapting to environmental changes. Kindness and honesty help a manager relate to both his or her subordinates and the changing market, so decency and compassion are assets over time. Every manager wants to be respected, and respect is earned partly by showing respect. He or she needs to be trusted, and this is earned by revealing trustworthiness. A manager must be consistent in his policies and thought processes, and that consistency is a hallmark of overall fairness. The quality of prudence leads to practical caution in business dealings, and loyalty and integrity as shown to coworkers are often interpreted as loyalty to one's company as a whole.
Business Ethics 1st Edition by Andrew Wicks,Edward Freeman,Patricia Werhane,Kirsten Martin
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