Ethical Management Prevents Crisis

Milan Přibyl
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Milan Přibyl: GIST, s.r.o.

Acta Universitatis Bohemiae Meridionalis, 2013, vol. 16, issue 2, 199-209

Abstract: The management of many our companies is mainly carried out through monitoring of measurable, quantitative properties of business phenomena and volume of achieved short term profits in time. Companies under-estimate the dynamics of production growth and sales, and do not pay sufficient attention to regulation of fixed costs. It often causes firms many problems and may result in a crisis. There is a nationwide illusion of never-ending growth in demand, which creates the fiction that everything can be bought for cash or on credit. This view influenced the management of corporate and civic communities and assisted to the unwanted development of consumer society without feeling the need or responsibility to pay the back loans on time. Besides the lack of ethics in the company management, there is also lack of careful and detailed planning and system decisions. This is often manifested by managers that pay attention only to subsystems and their components but not to the business as a whole. Managers do not adapt themselves to the specific requirements of the enterprise. Decissions which can be considered as an application of stimulating innovation, should not only systematically and responsibly develop managers' own style of work, but also business behavior as a whole. People are the holders of ethics in management. Those, who identify themselves with the idea that ethics in management is necessary, and also in interpersonal relationships, have understood the future trend, which is the responsibility for the work results but also the interpersonal relationships. The target of this article is to draw attention to the lack of respect for responsible management represented by managerial ethics, innovation and creativity, systematic approach and leadership, and to appeal for the need to promote a comprehensive approach to this issue - innovation of management theory and practice.

Keywords: Innovation of Management; Crisis; Business Ethics; Responsible Management; Corporate Social Responsibility (search for similar items in EconPapers)
JEL-codes: M14 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:boh:actaub:v:16:y:2013:i:2:p:199-209

DOI: 10.32725/acta.2013.018

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