Leadership Quality-02:Business ethics & open door policy

"Profits are by-products of business, not its very goal." pointed out by the father of modern management, Peter Drucker. Chanakya too has emphasized in his books of?Arthashastra?on ethics and morale. He says "Philosophy is ever thought of as the lamp of all sciences, as the means of all actions (and) as the support of all laws (and duties)." this verse brings out important points of ethics in business.

1. Guidance:?The core values built by the leader will act as a bible for every employee. This value will be lit the lamp in difficult times.
2. Decision in action:?While setting up a business every human has two options either use a simple route and make money or a longer route to create an ever-lasting effect. Only a good leader can take the right decision in such a situation.
3. Adhering to law:?A good leader has to ensure that his organization is adhering to the law of land in all sense. Also, he has to adhere to universal laws and contribute to the economic growth of society.
4. Doing one's duty:?For a good leader, duty is the priority over rights. He should understand the importance of giving more than what is taken. His duty should be born out of joy and service rather than through the influence of pressure.

Also, a good leader has to be very careful and alert about the information he is receiving from different sources. Sources are generally his subordinates- for management mid-management could be the source of information. His mid-managers can pass everything that happened thorough out the business hours to top management. This can encourage corruption, modified reports or data, and also the leak of data. So a good leader has to avoid dependency and be accessible to every person in an organization.

Chanakya advises an open door policy for everyone in the company by stating, "A leader should allow unrestricted entrance to those wishing to see him in connection with their affairs." Chanakya also lists the benefits of the open door policy:

1. Direct information:?Sales and marketing are the eyes and ears of any organization as they deal with the world. The leader can sense the pulse by having direct communication with them.
2. Avoiding external threats:?If a leader listens to his employees then the possibility of external threats from political parties or unions can be avoided. External threats always evolve from internal insecurities within the employees.
3. Faster decisions:?This can assist a leader to fix the problem as soon as it arises thereby avoiding confusion and misunderstandings.
4. Emotional bonding:?One basic requirement for humans is to have someone to listen to them. An effective leader has to understand this psychological need and should stand with employees in tight as well as joyful situations. This helps him build an emotional bond with the team.