Principles of Management

Companies have attempted to institutionalize ethics in many ways. First they have a code of ethics which is a formal statement that acts as a guide for making decisions and acting within a organization. Then Managers can take the following steps to establish an ethical workplace:
1.) Create, distribute, and continually improve a company's code of ethics
2.) Create a special office or department with responsibility of ensuring ethical practices within the organization.
3.) Furnish organization members with appropriate training.
4.) Managers can feel confident that a potential action will be considered ethical by the general public if it is consistent with one or more of the following standards:
~The Golden Rule
~The utilitarian principle
~Kant's categorical imperative
~The professional ethic
~The T.V. test
~The legal test
~The four way test
5.) Managers can take responsibility for creating and sustaining conditions in which people are likely to behave ethically , and minimizing conditions in which people might be tempted to behave unethically.

Diversity is such an important contemporary management issue because diversity is the characteristics of individuals that shape their identities and experiences they have in society. Advantages of a diverse workforce include:
1.)Work group drawing on contributions from a multicultural workforce enhance the pool of information and approaches available to the group.
2.)Gaining and keeping market share
3.)Cost savings
4.)Increased productivity and innovation
5.)Better-Quality Management
6.)Diversity Spotlight

There are three aspects of international environment managers must be aware of. The three aspects are:
1.)Respecting Core Human Rights
2.)Respecting Local Traditions
3.)Determining Right from Wrong by Examining Context