...Research findings: 5 Business Relationships can be improved through being Ethical and Socially Responsible 5 Strong Business Ethics will increase Efficiency 6 Social Responsibility will greatly increase our company’s Reputation 7 Recommendations 8 Conclusion 9 References 11 Executive Summary Ethics and social responsibility is on the mind of everyone in the world these days. We have all seen the effects of what happens when a company does not follow an ethical standard; it can lead very quickly to its demise. A strong ethical standard and being socially responsible is a must in the world of business. There are those who think that if they can get away with things, it can lead to higher profits and a bigger bottom line. This may be true in the short term but history has shown that those with strong ethics have the longevity and reputation to make it in the long run. The research for this report will show that not only is having strong ethics and being socially responsible the right thing to do, it is the smart thing to do for our company. In all we do, we need to have good relationships with those that we need in order to conduct business. We have vendors, suppliers, stakeholders and consumers that we have to maintain a good and strong relationship with. By having a strong ethical standard and good social responsibility, it allows us not only to maintain these relationships but to build and make them stronger. With the strong ethical standard we can work...
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...|BUSINESS ETHICAL BEHAVIOR & CORPORATE SOCIAL RESPONSIBILITY | | | |Student’s Name:Renee Giordani | | | |Course Title:Sales Management | | | |Professor:Gene Dichiara | | | |SUNY EMPIRE STATE COLLEGE | | | |Date: December 09, 2014 | Business Ethical Behavior & Corporate Social Responsibility: Why Organizations Must Have IT Corporate Social Responsibility has gradually developed into one of the greatest ethical aspects that have to be adhered...
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..."moral free space"�all ethical standards are determined by societal norms, and individuals have an implied social contract to live up to these standards. | | few nations or cultures have common moral agreement on what is ethically right and wrong. | | there should be no absolute limits put on what actions and behaviors fall inside the boundaries of what is ethically or morally right and which actions/behaviors fall outside. | | "first-order" universal ethical norms take precedence over "second-order" local ethical norms. | | each country/culture/society has commonly held views about what constitutes ethically appropriate actions/behaviors; these common standards of what is ethical and what is not combine to form a "social contract" that all individuals in that country/culture/society are obligated to observe. | Question 2 | | 1 / 1 point | Which one of the following is not a part of the business case for why companies should act in a socially responsible manner? Question options: | Every business has a moral duty to be a good corporate citizen. | | Acting in a socially responsible manner reduces the risk of reputation-damaging incidents. | | Acting in a socially responsible manner is in the overall best interest of shareholders. | | To the extent that a company's socially responsible behavior wins applause from consumers and fortifies its reputation, a company may win additional patronage. | | Acting in a socially responsible manner can generate internal...
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...Milton Friedman’s (1970) claim that: “the only responsibility of business is to increase its profits”? Today we live in a world were companies are major actors and influence society on many levels. This is why ethics were brought into the business world. Ethical enterprises follow certain values and moral beliefs and were created with the supposed intention of using that influence in a positive way and protect what surrounds them, whether it is the people who work for the company, the rest of society, the environment etc. Ethics helps companies distinguish what’s wrong or right in a certain situation and act upon it. It bases itself on the idea that a corporation is somewhat responsible for how it affects others, hence the term ‘corporate responsibility’. (Banerjee, 2007) But with time and experience it seems that ethics, although created for a noble purpose, can and are actually used by companies for purposes other than just helping others. The economist Milton Friedman believed that all this social work is the state’s responsibility and a political matter, and that it can induce losses in profit for a company, going against the essence and purpose of a business. He argues we might be better off without it. (1970) This rather negative portrayal of something that was created to do good, although quite realistic, can be discussed and hopefully re-arranged so there is hope that a company can be both socially responsible and profitable. According to Bakan (2004), “if a corporation...
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...is obvious that people have become more conscious of the ethical and social responsibilities of business over recent decades, suggesting that the modern businesspeople should not only consider about profitability but also extent to what they can contribute to the whole society. A quote by Anita Roddick generally demonstrates the spirit of being ethically and socially responsible: “The business of business should not be about money. It should be about responsibility. It should be about public good, not private greed.” With the increasing significance of the harmonization of society, the view about whether businesses should be responsible for both ethics and society has been sparked off a heated discussion. From some people’s perspective, it would not exert much adverse impact on a company if it is not aware of its ethical and social responsibilities, since the profitability is the primary objective of running a business. Whereas the counter argument believes that business should additionally take its responsibilities for the moral development as well as the well-being of society. In my point of view, a corporation’s ethical and social responsibilities are positively interacted with financial performance, as well as other key aspects a businessman concerns about. In this essay, along with the general definitions of both ethical and social responsibilities and the benefits for a company, I would also present some business cases of either side of the controversy and provide analyses...
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...Ethical Objectives The way the business responds to such issues is depend on their ethics Definition of ethics – individual’s moral beliefs and values about what is right and what is wrong, good or bad that guide his behavior. It is code of behavior that is acceptable to a person/organization to follow in a given society. It is a value judgment that may differ in importance and meaning between different individual. Ethics are based on individual beliefs and social standards; vary from person to person, from situation to situation and from culture to culture. Social standards of individual influence by; - The behavior af parents and other adults - Influenced by peers - Experience shapes our lives and contributed to aur ethical beliefs and our behavior How employees (managers) make a decisions is depends on their moral and belief. Business ethics is a term used to refer to ethical and unethical behaviors by employee of commercial organizations. Ethical behavior – behavior which is conforming to generally accepted social norms concerning beneficial and harmful actions. Ethical objectives – are targets based on a moral code(ethical code) for the business, for example ‘doing the right thing’. The growing acceptance of corporate social responsibility has led to businesses adopting an ‘ethical code’ to influence the way in which decisions are taken. Ethical code – a document detailing a company’s rules and guidelines on staff behavior that must be followed by all employees...
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...Social responsibility and ethics is an important issue. There are various reasons for a company to conduct business in and ethical and social manner. In the wake of scandals such as Enron it is important companies make an effort to become more responsible. This report will provide a strategy to help Company X Financial Service become socially responsible. A1. Environmental considerations and recommendations A successful company goes further than just meeting the standards mandated by law. A socially responsible organization should be aware of the effects that follow their decision making. Social responsibility is an ethical theory that an entity, be it an organization or individual, has an obligation to act to benefit society at large. Social responsibility is a duty every individual or organization has to perform so as to maintain a balance between the economy and the ecosystem (Wikipedia, 2013). There are various ways Company X can become environmentally responsible. Company X could utilize their local energy vendor by having them construct an energy audit of their location. Many companies are utilizing such services to save money but this also helps the environment. By utilizing led lighting instead of normal lighting energy costs are reduced and waste is minimized. Most led lighting components are rated at a life of 10 years. The upfront costs will be high but the upgrades will save on utility bills and maintenance. The company could start an internal recycling program...
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...responsibility and the issues it comprises are always changing. During the early 1970s, emphasis in socially responsible firms was on anti-poverty issues. In the late 1970s, focus was on human rights and social injustice. In the 1990s, the social responsibility issues changed again and the focus has been on environmental protection, drug problems and social injustice. Being sensitive to the things around them and performing ethically is what a socially responsible body does. How Can an Individual Be Socially Responsible? An individual can be socially responsible by engaging in activities that are geared towards the improvements of the community where he or she is residing. It can be simple as showing an interest towards what’s happening in the community, as well as being an active participate in solving local problems and concerns. Often times being socially responsible can be done in little ways such as avoiding harmful acts or doing things that will benefit other people. Some individuals choose to get involved in recycling projects, which helps the environments as a whole. Some individuals choose to make monetary donations to local churches, shelters, schools or hospitals. Another example can be simple as taking part in cleaning the street one may live. These are just a few examples of what a person can do to be socially responsible. Types of Socially Responsible Individuals Individual social responsibility can be broken into three types of people: 1. Good Intentions...
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...Responsibility (CRS) can still be a controversial topic. CRS is a commitment made by a corporation to develop and adhere to policies that are socially responsible in areas of work, community welfare, ecology, human rights, and family life. Today’s businesses realize an ingredient in being successful is through respect and confidence of their customers. A company can obtain respect and confidence through being socially responsible. Through social responsibility corporations manage their business processes to produce a positive impact on society. The growth of easing problems in society such as; child abuse, hunger in America, homelessness, gun violence, and equality in human rights has grown. Corporations can gain loyal customers through corporate social responsibility and giving back to society and the communities that they serve. Commitment of the company can be defined by its employees, the company’s treatment of the environment and community in which it is located. Today’s society is concerned with the global environment which puts pressure on today’s businesses to participate in being socially responsible. When a company or corporation does not contribute to the society that they serve and/or not environmentally conscientious, that company or corporation may experience loss of product loyalty and possible consumer boycotts. In today’s business world nationally and internationally it has become standard quo to have a reputation as a good corporate citizen. Being a good corporate...
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...Social Responsibility The purpose of this chapter is to examine important issues about leadership ethics and social responsibility. The focus is on leaders rather than on a general treatment of business ethics, and includes a summary of the theory of ethics. Skill building is also incorporated into this chapter. CHAPTER OUTLINE AND LECTURE NOTES Being ethical and socially responsible is part of being an effective leader even if many financially successful executives are unethical and socially irresponsible. I. PRINCIPLES OF ETHICAL AND MORAL LEADERSHIP Ethics is the study of moral obligations, or separating right from wrong. Also, ethics are the accepted guidelines of behavior for groups or institutions. Morals are an individual’s determination of what is right or wrong and is influenced by his or her values. A moral leader will practice good ethics. Edwin H. Locke argues that ethics is at the center of leadership because the goal of a rational leader is to merge the interests of all parties so that everyone benefits and the organization prospers. A. Five Ethical Leadership Behaviors 1. Be Honest and Trustworthy and Have Integrity in Dealing with Others. Trustworthiness contributes to leadership effectiveness. It appears, however, that trust in business leaders is low. Integrity refers to loyalty to rational principles, thereby practicing what one preaches regardless of emotional or social pressure. (A criminal can have integrity by consistently...
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...Corporate Social Responsibility and Ethics in an Organisation. Ethic: Ethic is said to be the main basis of good business behaviour. It applies to either the operational area of the organisation or the boardroom. On the other hand, ethics is doing what is right Corporate Social Responsibility. (CSR). There has been no definite definition of CSR, so, the theory, development and measurement has been difficult. CSR is the activity that an organisation or corporation can do to ensure that they have a duty or care to their stakeholder. (Employees, government, customers, community, shareholders pressure group etc) any decision taken by the corporation or organisation should not be based on the economic and financial grounds alone, rather it should also focus on its social, environmental and all other consequences of their activity. An organisation that embraces CSR should consider how it affect its internal and it external stakeholders. In terms of management, all stakeholders must be ethically and fairly treated. . Been socially responsible is internal and external (Mullins, 2005). This interprets that the organisation should not only look at the outside world but should also be concerned with the employees and how socially responsible the employees are. Palmer and Hartley (2002) suggested that all organisations should act socially responsible for two clear reasons, the philosophic and the pragmatic reason. The philosophic is that they should play their part...
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...paper is to identify and examine social and ethical issues within the global market. This document will also review how international management and cultural diversity are pertinent to the success of an organization that is operating in a foreign country. Based upon the above mention, this paper will focus on examining and providing frameworks and strategies that implement the concept of corporate social responsibility and cultural diversity. A number of factors are identified in the study, using literature reviews and numerous online research engines. Introduction Business firms that operate in foreign countries face an assortment of ethical and social challenges. These challenges run from fair treatment of employees, stakeholders, and customers, product safety, plant safety, advertising practices, human resources management, environmental problems, business practices, corruption, bribery, kidnapping, torture, and even murder. Therefore, organizations are increasingly concerned about how their actions affect the environment and social welfare. This in turn creates a demand by employees, consumers, investors, lenders, governmental agencies, and other stakeholder groups for demanding firms to operate in an ethical and socially responsible manner. Nevertheless, organizations cannot wantonly abandon their profit maximization aims while internalizing societal goals. As with other organizational decisions, ethical and social decisions should not be made in a...
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...Ethical Perspectives: Drucker, Friedman, and Murphey Business Ethics Ethics in business is an extremely important matter that continues to be discussed in many organizations today. There are even many businesses that offer formal ethical training and believe in it vital to their business’s success. However, it can be proven that several professionals have different views on what is exactly ethical in business. Three professionals with different points of views regarding what is ethical in business include Peter Drucker, Milton Friedman, and Patrick Murphy. Peter Drucker Peter Drucker’s view on all ethical dilemmas is primum non nocere. This motto, taken from the medical profession, can be translated to mean “Above all do no harm” (Jennings, 2012). In other words, Dr. Drucker believed that people should make decisions that would not bring harm to other people. He, like many other management professionals, understood the many approaches philosophers have taken to understand ethics. However, he wanted to show how and where business ethics fit into the conflicting rules of ethics and human behavior. Ethics of Prudence and Self Development Dr. Drucker used his experience as a philosophy and a religion professor as well as his experience answering difficult ethical political questions as a method of drawing his conclusion regarding ethics in business. He believed that a major tradition of ethics in the West, Ethics of Prudence” would prove to be valuable in understanding...
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...foundational perspective for ethics and social responsibility in relationship to individuals, organizations, and the community. Emphasis is placed on the interrelated nature of ethics, morality, legal responsibility, and social issues. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Boylan, M. (2009). Basic ethics: Basic ethics in action (2nd ed.). Upper Saddle River, NJ: Pearson. Trevino, L. K. & Nelson, K. A. (2007). Managing business ethics: Straight talk about how to do it right (4th ed.). Hoboken, NJ: John Wiley & Sons. All electronic materials are available on the student website. |Week One: Ethical and Moral Perspectives | | |Details |Due |Points...
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...Chapter 5 Social Responsibility and Ethics How important is it for organizations and managers to be socially responsible and ethical? In this chapter, we’re going to look at what it means to be socially responsible and ethical and what role managers play in both. Focus on the following learning outcomes as you read and study this chapter. LEARNING OUTCOMES 5.1 Discuss what it means to be socially responsible and what factors influence that decision. 5.2 Explain green management and how organizations can go green. 5.3 Discuss the factors that lead to ethical and unethical behavior. 5.4 Describe management’s role in encouraging ethical behavior. 5.5 Discuss current social responsibility and ethics issues. SPOTLIGHT: Manager at Work Chapter 5 presents contemporary concepts of managerial ethics and social responsibility to help your students explore and appreciate the critical role of these issues in today’s complex business environment. In the opening case, “A Manager at Work,” we see firsthand the complications that arise when companies are caught in the middle of unethical and illegal allegations. The case revolves around allegations of attempted bribery by three Renault executives. After an investigation, all three of the employees were dismissed, but the story doesn’t end there as the Paris prosecutor in charge of the case later dismissed the charges for lack of evidence. Renault would eventually backtrack on the firing of the executives, rehiring all three...
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