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Running Head: ETHICAL ISSUES IN BUSINESS 1

Ethical Issues in Business

Dxxxxxx
Student ID: 000XXXXX
WGU
04/22/13

ETHICAL ISSUES IN BUSINESS 2

Abstract
This paper examines social responsibility issues within Company Q and offers ideas for areas of improvement.

ETHICAL ISSUES IN BUSINESS 3 Corporate social responsibility is a double edged sward. On one edge is the corporation’s social responsibility to its shareholders, employees and suppliers to avoid business activities that reduce the financial success of the company. On the other edge is the public good. (Duff) Companies are often torn between the need to be competitive and successful and the expectation to be socially responsible. A company that is socially responsible conducts business ethically and is philanthropic while remaining profitable. Economic responsibilities include producing desired, quality goods and services at a reasonable price, while providing profits for shareholders. Companies also have legal responsibilities to comply with all laws and regulations. Lastly, successful companies support philanthropic activities and organizations that promote human welfare and goodwill in the communities they serve. Company Q is making business decisions based solely on profit. Their current attitude toward social responsibility is affecting their profitability and damaging the community’s perception of their business. Company Q is attempting to reduce profit losses by closing stores that are losing money. Company Q’s management needs to find ways to increase revenues and profit while becoming more socially responsible in the community it serves. Company Q should implement cost-effective changes that benefit the community, employees and the company shareholders. There are at several ways that Company Q can positively

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