Ethical leadership is organizational leadership that is centred around respect for ethics and values, as well as the rights and dignity of others. The concepts of honesty, integrity, trust and fairness are all critical to ethical leadership and for the growth of the business. Ethical leadership is about walking the walk as much as it is about talking the talk; it all starts with the leaders who have to be exemplary. Leaders who have authority and responsibility should be ethical in their conduct since they hold the levers of power and shape the destiny of the organizations.
As such, they should show their subordinates how they are supposed to conduct themselves when they are working. This makes the business grow. As they are responsible for crafting the business strategy, they should put in place measures that ensure company goals and objectives are achieved. Ethical leaders have a moral obligation to lead the way always in transforming their organizations and cultivating ethical behaviour that should take our business forward and not lean back. The Greek philosopher Aristotle defines ethics as the study of how to live well.
If leaders do the opposite while engaging in inappropriate business practices, they in so doing, create an environment that encourages employees to imitate such behaviour which is bad for business growth. If company leaders enriching themselves at the expense of the company and if employees get to know about their shenanigans it won’t be surprising the same employees will do the same when they find themselves in positions of power and influence but can the business grow? The answer is no; hence there is a need for ethical leadership for business growth.
However, The Center for Ethical Leadership once said,
“Ethical leadership is knowing your core values and having the courage to live them in all parts of your life in service of the common good.”
Having ethical leadership can make a positive impact on business growth as it evokes confidence in potential investors.
One sure thing that leads to business growth and success is ethically conducting business, recognizing potential investors and valuable prospects is also among the payoffs of ethical leadership. The clearer the standards for ethical business practices, the more the confidence one inspire in their potential investors.
Ethical leadership also gives leaders the power to create a workplace community in which employees can be trusted to do their jobs without much supervision and laying that foundation for a self-motivated team will save one a great deal of time and money in the long run. Being an ethical leader means inspiring and probably motivating employees and by so doing it boosts employee performance by keeping the team’s morale high.
Conclusively, a healthier working environment is also of great importance as far as ethical leadership is concerned because no one would want to wake up and go to a toxic workplace full of negativity while operating through shady decision-making and questionable behaviour. The power of ethical leadership creates a better work environment where the employees feel valued, comfortable and inspired to be their best selves. This contributes much to the growth of the business.
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