Management in any field must adhere to an ethical code of conduct. An ethical code provides a framework for making effective and productive decisions. Although ethical codes vary in accord with different areas of work, there are some common elements in all management ethics.
Management has a wide range of obligations, according to Bowie and Werhane in "Management Ethics." Management must be accountable to employees, customers, shareholders and the surrounding community.
Bowie and Werhane point out that management is responsible for the financial sustainability of any plan. Management personnel must also be concerned with bottom-line accounting. In short, management must ensure that a plan of action will not result in a financial loss to the organization.
Supply Chain Management
Modern management in any field must be able to ethically and effectively network and coordinate with related organizations, according to Mentzer in "Defining Supply Chain Management." The purpose of this is to improve the performance of the individual organization and the network as a whole.