Ethical management is providing an environment for employees to be able to make the right decision when they encounter ethical dilemmas. It will allow the employees to practice ethical management activities. An ethical management company should recognize economical legal responsibilities, follow the social customs as their obligation. The company is also expected to proactively set code of conduct to follow corporate ethics.
Ethical management is not a mere measure to simply control unjust behavior of the employees, and is not a trend term which will lose its value some day. It is to correct unfair and unjust customs and financial structure to be in line with the corporate ethics standards, and also improve company’s competency and economic value. The ultimate goal is to maximize profit and contribute to the society through ethical management.
Ethical management will improve company’s image by gaining confidence from all shareholders including customers and investors, under market economy system. It will maximize company’s profit and is a crucial factor for company’s future. As you can see from various instances overseas, such as Enron scandal, the concern of company moral caused by accounting fraud will result in the collapse of stocks, reducing money inflows into the company and making it go bankrupt. In the current economy, ethical management is not an option anymore for business. It is a key condition for survival.
HYUNDAI BNG STEEL, creating the customer first value, will make a leap to a leader in the world steel industry based on the ethical management policy.