Principles for Ethical Management Consulting simply mean knowing the difference between right and wrong and then doing what is right. However, in management consultancy sometimes it is quite difficult to differentiate between what is ethically right or wrong. But to be right, the consultant must adhere to principled values such as respect, honesty fairness, and responsibility. Expressions denoting these principles and their application are called moral or ethical values. Ethical consultants should have established principles which define ethical values and which must be used by the consultant’s actions towards such behavior.
For adhering to the Principles for Ethical Management Consulting the consultant must possess the ability to be acquainted with ethical dilemmas and be familiar with the means to address such dilemmas. It is essential that management consultants Institute principles to make sure those clients receive fair, impartial and responsible solutions to their ethical dilemmas that would also minimize expenses to the organization. Ethical dilemmas can be realistic, barely defined issues such as a company’s commitment to being honest with its customer to wider ranging social and rational questions which include the company’s to safeguard the environment and to protect employee rights.
Most ethical dilemmas arise from differences between the varied interest of company owners and their employees, clients, and adjacent/ neighboring communities. Principles for Ethical Management Consulting practitioners must maintain the equilibrium between the companies making reasonable profit margins, security and the well-being of the workplace and greater environmental and communal issues. Because of diversified expansion, large multinationals do business in countries where bribery, racial prejudice, sexual harassment and disregard for the environment is just a normal part of business practices and are not considered being illegal, uncommon nor unprincipled or dishonorable.
The company must make decisions based upon Principles for Ethical Management Consulting and decide whether they would prefer to hold on ethical values or to adjust to local conventions to do business in that country and maximize its profits. Because the cost of corporate and white-collar crimes can be quite high for the communities in which they operate and for the business itself, several business and trade associations have set out specific rules and regulations for companies, managers, and employees. Governments support and try promote adherence to established standards in these companies. Because of the global expansion of the large organization and the intricacy of government laws ethical matters in companies have become increasingly complicated. and sometimes it is not easy for the consultant to know when ethical principles have been violated.