The Risks of Ethical Credibility: Innovations in Companies Management

Abstract

The qualitative social changes experiencing in this millennium are characterized primarily by globalization and the internationalization of economic processes. These changes require creating innovative approaches to corporate management to lead to companies’ better economic results and thus provide them with a competitive advantage. Today, companies must respond quickly to the needs of the external and internal environment, be in close contact with customers, and support internal business activity. The paper aims to assess and evaluate selected companies’ ethical credibility in Slovakia based on the research conducted at the Technical University in Zvolen. The results of the research evaluate the risks of ethical credibility in selected companies in Slovakia. The authors build the desired way of behaving and acting of all stakeholders. As a bearer of ethical-moral norms and principles, corporate culture comes to the fore as an indisputable factor in the success of a company in the competition, which acquires a global platform. The currently ongoing economic transformation process creates such conditions for companies’ activities, which require a significant increase in their activities’ efficiency and improved customer needs satisfaction, which causes the need for radical changes. The changes concern in particular, how business entities react to their internal or external environment. Risk is a term that refers to an uncertain outcome with a possible adverse condition. Risk means a threat, a potential problem, the possibility of failure, damage, loss, or destruction. Risk expresses a certain degree of uncertainty, i.e. the probability of achieving a result different from the expected result. Examples of minimizing the risks arising from the unreliability and distrust to employees could improve work efficiency, interpersonal relationships and work ethic, and the work environment. Keywords: ethics, risk, ethical credibility, enterprise, procedure algorithm, research.