Ethical Leadership in Modern Business Assessment Answer

Introduction

With the advent of modern day business landscape, the notion of ethical leadership has become more and more relevant. In view of the fact that ethical leadership acts as a beacon, which assists an organization to steer through uncertain landscape towards successful future, which is sustainable in nature. On top of that, ethical leadership orients the business ambiance of an organization with integrity, trust as well as accountability. The following study revolves around meticulously analyzing vision for ethical leadership, types of individuals who could be able to delineate the organization from the rest as well as the essence of virtue in the realm of ethical leadership. Finally, the study also extrapolates the strategies that modern organizations should undertake in order to substantiate an ethical ambience that not only empowers the workforce, but at the same time, also concentrate upon safeguarding the future of the organization in the long run.

Vision for Ethical Leadership

From an apparent vision it would seem that ethical leadership is just another set of principles that should be abided by; however, in reality, ethical leadership can only be equated as a comprehensive approach, where measures are only inculcated, provided all stakeholders, such as the workforce, consumers, suppliers who are associated with the organization, along with the greater community, which is influenced by the working function of the organization are benefited (Answer et al. 2021).This is the single most attribute that separates ethical leadership from any other approach in the realm of business management. The characteristic attribute of an ethical leader is to be visionary in nature, who would only dedicate time to seek measures through which the long term goals of the organization can be aligned with social responsibility as well as sustainability. On top of that, decisions formulated by such leaders are always validated on the basis of ethical principles (Banks et al. 2021).To put it in simple perspective, it can be stated that ethical leadership solitarily concentrates upon long term consequences of business decisions, rather than emphasizing gains from short term tactics. Fundamentally, ethical leadership separates itself from existing conventional approaches of leadership by ensuring that the success of the organization is not equated at the expense of others.

Depicting unwavering commitment through open flow of communication and integrity, all while maintaining transparency and accountability throughout every stratum of the organization is what separates an ethical leadership from traditional leadership approaches. Aside from motivating employees to safeguard ethical standards, individuals who follow ethical leadership also lead by example. Simply put, it can be stated that these individuals not only foster an ambience where workforce are welcomed and respected, but at the same time, employees working under ethical leadership are motivated intrinsically to actively participate in the working function of the organization, so that its success can outperform the potential rival while upholding ethical principles.

A Brief Concept of Role of Virtue in Ethical Leadership

As far as virtue is concerned it can be stated that its position is quintessential across the realm of ethical leadership. Owing to the fact that qualities which constitute virtues such as empathy, integrity, courage to undertake tough decisions with humility, are all necessary tenets of an ethical leader. Without the zeal to work for the betterment of the organization, simply subscribing to ethical ideology is not enough to call an approach of leadership as ethical leadership.Hence, individuals who are looking forward to demonstrating ethical leadership in an organization should consistently subscribe towards qualities that falls under the continuum of virtue, while completely disregarding extrinsic circumstances as well as external temptations. The focal point of ethical leadership always revolves around the greater good of the organization, which not only benefits the employees and the management, but the broader community as well as other relevant stakeholders also.

On top of that virtue also empowers leaders to exhibit empathy towards pertinent stakeholders as well as team members. Gaining cognizance regarding their respective needs and acknowledging any kind of challenges that they are currently experiencing, ethical leadership always tries to foster a sense of collaboration and unity where culmination of talents from diverse workforce can be accumulated in order to extrapolate an exemplary resultant, which would be beneficial for the organization as well as the broader society. Apart from that, ethical leaders should be courageous in nature, which is another virtue necessary to be an exemplary ethical leader. In consonance with ethical leadership, undertaking critical decisions which are not always popular in nature is part and parcel of the approach of leadership. Willingness to confront challenging landscape and remain steadfast with decisions that are aligned with ethical principles, all while completely disregarding the potential risk of unpopularity is a distinctive attribute of ethical leadership, which is only feasible, provided the individual is courageous enough to substantiate by the decision. Hence, it is fair to state that the role played by virtue and ethical leadership is simply undeniable in nature.

Impactful Individuals in the Workplace

In the corporate milieu, certain exceptional individuals emerge as ethical leaders, leaving an indelible impact. Such exemplary figures possess qualities that resonate deeply with their colleagues, instilling a sense of admiration that motivates others to emulate their conduct.

• Empathetic communicators, as ethical leaders, wield the power of compassionate dialogue to engender trust and camaraderie among their team members (Sharma, Agrawal & Khandelwal, 2019). By actively and attentively listening to the concerns and ideas of their peers, they cultivate an environment that fosters candid exchanges and celebrates diverse perspectives.
• Exemplifying the role of transformational mentors, these leaders place a premium on the growth and development of their workforce, nurturing a culture of continuous improvement. Their unwavering commitment to guiding and empowering employees propels them to unlock their full potential and contribute significantly to the attainment of the organization's objectives.
• Incorruptible in their approach, ethical leaders anchor their decisions in fundamental principles rather than being swayed solely by considerations of profitability or convenience. They meticulously weigh the ethical implications of their choices, ensuring that their actions align harmoniously with the organization's core values and broader societal expectations.

Fostering an Ethical Climate in Modern Organizations

Furnishing an ambience that is ethical in nature across the workplace requires a multifaceted approach that revolves around inculcating active participation across all strata of the organization. Necessary strategies through which ethical ambiance can be fostered across modern organization are mentioned as follows:

• The first course of action that is required in this instance is to distinctly establish a Code of Ethics (Qing et al. 2020).One of the characteristic flaws that is relevant across modern organization is that none of them has an appreciable Code of Ethics, despite having a talented workforce. As a consequence of which, the concept of transparency, integrity and accountability are often lacking across modern day organizations. Not only this Code of Ethics would require periodic evaluation, but at the same time, it should be reinforced and deeply integrated across every single employee within the organization through training and orientation program.
• Maintaining transparency should be encouraged by incentivizing it. Ethical leaders strive to focus on accountability and transparency. For an ethical leader, it is imperative to report any sort of practices that are unethical in nature, without the fear of retaliation. Hence, inculcating necessary measures and mechanisms through which whistle blowing can be encouraged, ethical leadership should remain steadfast while fostering a culture of transparency, within the workplace of modern organization.
• Training sessions and workshops that are conventional in nature, fundamentally lacks value and integrity (Saha et al. 2020).In other words, employees are not motivated enough or well educated to gain cognizance regarding the gravity of augmenting moral and ethical reasoning skills. Hence, ethical leadership should also concentrate upon emphasizing education programs of employees that are value based in nature. This would inherently assist the organization to get ahead of the competitive curve. Since, the process of decision formulated by workforce working under ethical leadership is always beneficial for the organization in the long run.
• Behaviors where accountability is reflected, transparency is appreciated and integrity is committed, should be awarded with heavy incentives (Sarwar et al. 2020).This reflects that employees upholding these standards would be recognized by the organization's leadership, which would necessarily permeate among the workforce and motivate them to undertake similar approach, which in turn would assist the organization inevitably. Recognizing talent and contribution of individual employee would also instill a notion of belongingness among the workforce, where intrinsic motivation among the employee would reverberate seamlessly.

If all of the aforementioned measures are inculcated with due diligence, then the feasibility of modern organization to remain at the vanguard position in its respective industry is inevitable in nature.

Conclusion

To conclude it can be stated that ethical leadership is regarded as the foundation of modern business that substantiates a positive impact on society, all while ensuring that the business is concentrated upon long term success. Ethical leadership always requires visionary leaders who would concentrate upon virtue and safeguard rudimentary ethical principles on a continual basis, by inculcating the notion of empathy, transparency as well as accountability, throughout the working function of the organization. This would not only foster an ambience which empower the workforce to a great extent, but at the same time, undertaking decisions which are professional in nature also becomes ethically validated in the first place, if the organization is driven by ethical leadership. Across professional endeavors, embracing the notion of ethical leadership would not only consolidate the reputation of an organization, but at the same time, it also contributes to an equitable as well as sustainable business landscape, that is global in nature.

References

Anser, M. K., Ali, M., Usman, M., Rana, M. L. T., & Yousaf, Z. (2021). Ethical leadership and knowledge hiding: an intervening and interactional analysis. The Service Industries Journal, 41(5-6), 307-329.

Banks, G. C., Fischer, T., Gooty, J., & Stock, G. (2021). Ethical leadership: Mapping the terrain for concept cleanup and a future research agenda. The Leadership Quarterly, 32(2), 101471.

Qing, M., Asif, M., Hussain, A., & Jameel, A. (2020). Exploring the impact of ethical leadership on job satisfaction and organizational commitment in public sector organizations: The mediating role of psychological empowerment. Review of Managerial Science, 14, 1405-1432.

Saha, R., Shashi, Cerchione, R., Singh, R., & Dahiya, R. (2020). Effect of ethical leadership and corporate social responsibility on firm performance: A systematic review. Corporate Social Responsibility and Environmental Management, 27(2), 409-429.

Sarwar, H., Ishaq, M. I., Amin, A., & Ahmed, R. (2020). Ethical leadership, work engagement, employees’ well-being, and performance: a cross-cultural comparison. Journal of Sustainable Tourism, 28(12), 2008-2026.

Sharma, A., Agrawal, R., & Khandelwal, U. (2019). Developing ethical leadership for business organizations: A conceptual model of its antecedents and consequences. Leadership & Organization Development Journal, 40(6), 712-734.

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