Professionalism & Ethics in Management Consulting

            Professionalism & Ethics in Management Consulting.
             consumers always take into account a company's ethics or values when buying a product or service." EOA News- Fall 1996 Article.
             With the recent public scrutiny of Arthur Anderson and the scramble to keep their organizations afloat, many consulting corporations are struggling to assure the public that they have a clear plan that holds those accountable for unethical behavior. Yet, before an individual can be held accountable for their unethical actions, there must be a foundation with an ethical climate. An optimum way for managers to achieve a desired ethical climate is to incorporate an ethical code into the organization's core values. .
             According to the World Reference English Dictionary, ethics is "the philosophical study of the moral value of human conduct and of the rules and principles that ought to govern it." The root word for Ethical is the Greek "ethos," meaning "character" (Pickett, 2000). In essence, ethics has to do with what's right and wrong.
             The nature of consulting puts management consultants face to face with ethical matters on the daily basis. These matters include professional independence, conflicts of interest, skill and competence, confidentiality and reasonable care. In 1968, the Institute for Management Consultants USA, Inc (IMC USA), introduced its now widely accepted code of ethics. Since its introduction, the code of ethics has been modified and is consistent with the International Code of Professional Conduct by the International Council of Management Consulting Institute (ICMCI). According to IMC USA, the code of ethics "signifies voluntary assumption of self-discipline" and highlights how the consultant will conduct business in the following areas:.
             Client.
             Engagements.
             Fees.
             Profession.
             Although the code of ethics are not mandatory for all consultants to adhere by, without these professional standards, the modern economic assumption that individuals and businesses in society always pursue their own self-interest or private economic incentives will prevail over ethical and moral consideration.