The history of ethics existed prior to the years of Ancient Greeks, and later evolved to the modern period via the engagement of new age philosophers who worked on reformulating their ethical theories and introducing new ones. Evidently, the systematic approach to theorizing what is morally good has been around for centuries.
Ethical leadership is the foundation of building well grounded business relationships. As a leader, there is a general moral obligation to be able to strategically implement morals, values and beliefs of individuals and their organization.
To give you an idea of how ethics impacts business operations, let's have a look at the strategic advantages of ethical leadership:
1 . Building Trust
Credibility is established when you are able to gain the trust of employees, clients and customers. In that way, a sense of integrity is exhibited with the sole purpose of upholding company morale and values.
2. Attracting Partners and New Business
Business leaders who stand for clear ethical practices, create a good impression and positive brand image. This increases the chances of attracting external clients and every so often, those clients spread the word on how great it is to work with an efficient ethics-driven organization.
3. Effective communication
This helps develop a voice within the workforce, where constructive criticism builds trust for one another, creating a positive work environment.