Business ethics and corporate awareness development in Bangladesh: The management prospects and challenges Mamun Muhammad Z. Dr.1 1Professor, Institute of Business Administration (IBA), University of Dhaka, Bangladesh Online published on 20 March, 2021. Abstract This research explored the state of ethics as perceived by the senior corporate managers in various organizations in Bangladesh. The study shows that the managers perceive the different ethical norms with different emphasis. As noted the important ethical norms include ethical behavior of the leaders, signing of code of conduct statement, honest leaders in the organization, ethically act of leaders in the organization, organization balance its short term business goals with its long term need for success, and consistent behavior of the leaders with the stated ethics and values of the organization. It appears that presence of organizational ethics policy is the most important factor extracted from the different ethical norms. Based on their responses, it may be deduced that the respondents believe that code of conduct statement, training in business ethics, non-favoritism, reward of ethical behavior and non-discrimination are the most important variables. The second factor that has been identified is the presence of honest leaders in the organization. Many organizations in the real world may have developed ethical leaders for long, and have been making a difference in the firm they work. If the efforts of such managers are recognized and rewarded publicly, then they, as well as the managers around them, would be further motivated. Family ties or friendship in organization recruitment/promotion policy carries a negative touch to develop ethical norms in an organization. A significant number of respondents, apparently, believe that real-life managers should balance the needs of the business ethically. Organizations balance of its short-term business goals with its long-term need for success appeared to another important factor. By such balancing the organizations can implement the ethical norms gradually in long term. Organizational condone of false or misleading advertising appeared to be the last factor for developing the ethical norms in an organization. Realization of the fact that misleading advertisement can end up major ethical misconduct is no doubt an important factor for ethical norm development in an organization. Top Keywords Business Ethics, Corporate Awareness, Management, Challenges. Top |