...Ethics and Social Responsibility MGT/498 Strategic Plan, Ethics, and Social Responsibility Ethical values and social responsibility serve an important role in the strategic planning process. According to Milton Freidman, “[t]here is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud” (Wheelen & Hunger, 2010, p. 72). With social media and the internet, it is difficult for companies only to focus on profits. Today, companies need to follow Archie Carroll four responsibilities of business. Those responsibilities include economic, legal, ethical, and discretionary. The priority starts with economic and ends with discretionary. According to Carroll, “a business firm must first make a profit to satisfy its economic responsibilities” (Wheelen & Hunger, 2010, p. 73). Once the company’s economic responsibilities have been met they can worry about the social responsibilities—ethical and discretionary. When a company decides to take responsibility for their actions by doing the right thing, this is called business ethics. In business a company or business has a social responsibility to the consumers and stock holders to make sure they are practicing proper business ethics to not only promote doing the right thing but to show that they are...
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...One of your friends uses the terms ethics and morality interchangeably. You do not think this is correct. How would you explain the difference between ethics and morality? Provide an example of morality and one of ethics in your explanation. DQ # 2- Select two major ethical theories covered in your readings for Week One. What are the major differences between these two theories? Which one of these theories is most aligned to your personal beliefs? Explain. DQ # 3- What are examples of virtues, values, and moral concepts? How does each of these relate to one another? In what ways are they separate and in what ways are they connected? DQ # 4- In Ch. 6 of Basic Ethics, the author discusses the relationship of religion as it relates to morality and ethics. Using your own personal experiences as a resource, what, if any, relationship exists between religion, morality, and ethics? Explain your answer. Assignment (Individual)- Ethics Essay WEEK 2 DQ # 1- What are potential results if members of a community accept their community’s benefits, such as emergency services or school systems, but decline to contribute to the community beyond paying taxes? Explain. DQ # 2- Provide an example of a socially responsible effort within your community. In what ways does this influence the community? How do these efforts affect the individuals within the community. DQ # 3- Consider the community in which you live. What is your responsibility within your own community? Explain...
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...Ethics Reflection Paper Donald Dennis STR581 / David Geerinck 04/21/2015 Ethics and Social Responsibility While looking back the last 15-20 years (the time where I grew up and most impressionable), ethics has taken an important place in corporate America; and not in a good way. In fact ethics has been the center stage in a variety of companies with serious problem. Companies such as Enron, WorldCom and people such as Bernard Madoff have made a name in history for themselves, as well as to show how to sink an entire company! They are the example of how not to do something! A company as a whole is outlined by its mission, with strategic goals in place to reach its vision. Both of these help with a companies approach to its customers and the social responsibility that is expected of such firm. Ethics and Social Responsibility Being socially responsible means those in the business world must act in an ethical manner, while being sensitive towards social, cultural, economic and environmental issues (The OptimizePress, 2014). Abiding by these guidelines, those individuals as well as businesses in whole will have a positive impact on the development within their business and society. Sometimes times get challenging, and when faced with a dilemma, as a profession you mean the best for the business, but at what expense. Being socially responsible is a mandated duty to serve society both in a general fashion...
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...Chapter 5 Social responsibility and Managerial Ethics WHAT IS SOCIAL RESPONISBILITY? Two views of social responsibility The classical View * The classical View says that management’s only social responsibility is to maximize profits. * Management’s only social responsibility is to maximize profits (create a financial return) by operating the business in the best interests of the stockholders (owners of the corporation). * Expanding the firm’s resources on doing “social good” unjustifiably increases costs that lower profits to the owners and raises prices to consumers. The Socioeconomic View * The Socioeconomic View is the view that management’s only social responsibility goes beyond making profits to include protecting and improving society’s welfare. * Management’s social responsibility goes beyond making profits to include protecting and improving society’s welfare * Corporations are not independent entities responsible only to stockholders. * Firms have a moral responsibility to larger society to become involved in social, legal, and political issues. * “To do the right thing” Comparing the Two Views * A stage 1 manager is following the classical view of social responsibility and obeys all laws and regulations while caring for stockholders’ interests. * At stage 2 managers expand their responsibility to another important stakeholder group – employees. Because they want to attract, keep, and motivate good employees, stage 2 managers...
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...Abstract Ethics and social responsibility occupy an important place in our personal value system. Customer confidence in how business operates has been severely shaken by recent corporate scandals and collapses, such as Enron and bank failures. Hence it is important for companies to consider incorporating ethics and social responsibility into their strategic planning. This applies whether a company is involved with customers one-on-one, such as a Taco Bell or Dell, Inc., or their involvement is indirect, through their relationship with their clients, such as newspaper distributor Pogo Distribution Company, or wholesale food seller, Del Monte. This paper analyzes what are ethics and social responsibility, how each applies to a company’s strategic planning, and the overall impact on stakeholders when ethics and social responsibility is considered in strategic planning. The paper will conclude with how my ethical perspective has evolved throughout the program. The Role of Ethics and Social Responsibility in Strategic Planning To be their most successful, companies must consider ethics and social responsibility as critical parts, inherent components of strategic plan. Ethical and social responsibility criteria must be included as part of the strategic process in before-profit decisions rather than after-profit decisions in order to receive the maximum benefit, i.e. corporate profits. The Role of Ethics in Strategic Planning Reflecting critically and actively on ethical...
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...Corporate social responsibility and Ethics Corporate social responsibility Sandvik Coromant tries to the best of its ability to be responsible and work in accordance with the way it act, e.g. with sustainability both on a global and local level. It work according to the Sandvik code of conduct. This includes social, employee, equal opportunities, health and safe, management system and sponsoring. Social responsibility Being a global company increases the importance of social responsibility, since there are great public concerns about the impact of these companies' activities on home and host countries. For Sandvik, the most important aspect is the responsibility it assume for its employees and their work environment. Respect for human and labor rights is essential for Sandvik. It has the same corporate policies, expressed in its Code of Conduct, at all units and strive to develop equal standards. It is also Sandvik's policy to establish and maintain appropriate procedures to evaluate and select major suppliers and subcontractors on their ability to meet the requirements of its Code of Conduct. Sandvik's social objectives are to provide working conditions that stimulate employees to perform effectively assume responsibility and continue to develop in their personal and professional pursuits. Equal opportunities shall always be provided. Employees Sandvik's most important asset is its employees. The company has about 50,000 employees worldwide. There is huge...
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...Problem The Role of Ethics and Social Responsibility when developing a strategic plan - consider stakeholder needs Ethics paper: write 700 - 900 word paper in which you do the following: explain the role of ethics and social responsibility in developing a strategic plan while considering stakeholder needs and agendas. *include at least one example of a company overstepping ethical boundaries for stakeholder agendas, and what types of preventative measures could be taken to avoid this type of situation. Solution Loss of employment and retirement funds, double bonuses, tax evasion, and the dark side of office politics are some of the challenges affecting organizations like a virus causing professionalism and efficiency to be questioned. Walker and Lanis (2009) found that an organization influences and is influenced by the society within which it operates (Cengage, 2009); therefore, an organization needs to take into consideration issues such as product safety, regulations, legal, ethical and economic responsibilities to the society within which it functions. One of the methods which could be used to do so is to integrate ethical and socially responsible techniques in an organization’s strategic plan whilst taking into consideration the needs and agendas of stakeholders. This concept is supported by Drozdenko, and Jin (2010) who suggested core values and beliefs exhibited at the strategic level influences decision making and outcomes throughout an organization. The...
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...Business Ethics and Social Responsibility Apparently, the concept of social responsibility refers to the means of achieving full sustainability through the adoption of the Triple-Bottom-Line (TBL) concept. Any viable organisation will enhance and facilitate long-term viability and success through the critical adoption of fundamental social responsibility principles such as transparency and accountability (Benn & Bolton, 2011). For instance, in the year 2010, the international organisation for standardisation gave out an international standard, which could help other organisations in addressing and accessing their social responsibility. Further, it is through critical and careful attention to impacts on the environment and the entire society that various organisations are able to achieve their sustainability. Through such scenario frequencies, any organisation can spur growth and development within the shortest time possible. Embracing the culture of transparency and positive ethics enhances and facilitates an approach that helps in the protection of the long-term success of both the environment and organisational success (Benn & Bolton, 2011). Social responsibility Social responsibility on a personal or corporate level means having a passionate commitment to act in an ethical and sensitive manner to alleviate poverty from society without destroying the cultural values and environmental settings of the community, and ensuring economic benefits to the organisation that...
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...Business Ethics and Corporate Social Responsibility Business Ethics and Corporate Social Responsibility The Business Ethics and Corporate Social Responsibility (CSR) article focuses on the dilemma between business ethics and social responsibility in business organizations. Issues related to social responsibility and sustainability are becoming more important in today’s economic and social environments, especially in the business sector. The article makes the case that ethics and the corporate responsibilities are inter-related. “Business goals are inseparable from the societies and environments with in which they operate.” The author states three reasons why social responsibility and business ethics are important: 1) People want to buy from ethical businesses. Companies have to satisfy their customers and achieve their main goal of earning a profit. 2) People want to work for ethical businesses. Employees in ethical businesses are more likely to work harder for the same or sometimes less pay than their “cut-throat counterparts. 3) People want to partner with ethical businesses. Businesses partner with socially responsible and ethical businesses more frequently than other less socially responsible organizations. The article concludes that many organizations are aware of the critical need for ethics in their business culture; however, there is still room for improvement. “Progress is limited by the reality that CSR remains a purely voluntary, self-regulated...
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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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...Essay on “Corporate Social Responsibility and Ethics” Social responsibility is an idea that has been of concern to mankind for many years. Over the last two decades, however, it has become of increasing concern to the business world. This has resulted in growing interaction between governments, businesses and society as a whole. In the past, businesses primarily concerned themselves with the economic results of their decisions. “Today, however, businesses must also reflect on the legal, ethical, moral and social consequences of their decisions” (Anderson 15). This paper will discuss the concept of corporate social responsibility. It will give the definition of the phrase, and identify some of the global factors that necessitate corporate social responsibility. It will discuss the importance of corporations setting up corporate social responsibility projects, and the impact these have on society. Social corporate responsibility and the maintenance of high ethical standards is not an option but an obligation for all business. Corporate social responsibility is no longer defined by how much money a company contributes to charity, but by its overall involvement in activities that improve the quality of people’s lives. Corporate Responsibility has come up as a significant subject matter in the international business community and is progressively becoming a mainstream activity. There is mounting recognition of the momentous effect the activities of the private sector have on the...
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...Ethics and Social Responsibility in Business Strategic Planning MGT/498 June 20, 2014 Company stakeholders may not only be investors in a company they may also have voting power that can influence the social and financial impact of a company. With this voting power comes a social responsibility to the employees, customers and anyone associated with the company. The company's bottom line is not the only thing that must be considered when using their influence to shape company goals. Ethics, social responsibility and planning Strategic planning is the process of creating a mission statement, vision statement, policies, and functional decisions to ensure a company’s success. Since, the company’s success is the vital interest of the stakeholder, certain considerations must be taken into account in the planning process. Ethics are usually seen as “doing the right thing”. In business it can be much more than that. Companies could do all the write things but the outcome could be on that does not benefit everyone; it only benefits a certain group within the organization. For example, stakeholders may have the opportunity to increase their own wealth if they push to merge the company's subsidiaries into the parent company. This merger, however, could limit the company's ability to serve multiple markets, hinder its product diversification or create other problems. This clearly shows that the interest was not in...
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...Ethics is mainly concerned with what is good versus bad, what is right versus bad, what is fair versus unfair, and what is praise versus blame. Deontology is an ethical theory that holds that actions are right or wrong independent of their consequences (Jennings, 2010, p. 27). Utilitarianism is an ethical theory that holds that actions are right if they produce the greatest amount of good for the greatest number of people. Justice based on giving each individual his or her due, treating equals equally and unequal unequally. Fairness focus on individuals, and giving them what they deserve based on merit that can be distributive, procedural, compensatory, and retributive. Business ethics is the moral principles and standards that guide behavior in the world of business (Jennings, 2010). Corporate social responsibility is the obligation toward society assumed by business. The business maximizes it positive effects on society and minimizes it negative effects. An illustration of an ethical and social responsibility issue related to the textile manufacturing business. In today’s global business, where large multinational corporations like the textile industry face charges of violating human rights in third world countries. Using child labor questions the human rights, ethics, and social responsibility of the textile manufacturing industry. An analysis of how the textile manufacturing illustration applies to decision-making and operations in an ethical and social responsible business...
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...renamed it to Microsoft Disk-Operating System, and modified for IBM’s purpose. Before doing the job for IBM, they made an agreement that they can sell MS-DOS to other companies also. After a while, MS-DOS became the industry’s leading OS. After the successful of DOS, they continued to work on DOS to convert it to graphical user interface and it would work on top of DOS, making it user-friendly by working with icons rather than commands. They named their new operating system Windows, which was a huge success and it still being used around the Globe even today. By 2010, with more than 90,000 employees and anticipated year-end revenues of up to $38 billion, Microsoft continued to hold a strong lead in the computer software industry. Social Responsibility a. Since 1999, Microsoft has worked closely with the Office of the United Nations High Commissioner for Refugees to provide people in dozens of countries with access to technology tools, skills training and other essential services. Microsoft attorneys have also helped dozens of refugees make a fresh start by providing pro bono legal counsel in hearings before U.S. immigration courts. In 2007, Microsoft launched Unlimited Potential, which brings together the company’s corporate citizenship efforts and many of...
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...Management Of Ethics And Corporate Social Responsibility Issues In Public Relations INTRODUCTION At multiple points in their careers, public relations (PR) practitioners are likely to face decisions that are ethical in nature. Such decisions reflect a range of ethical dilemmas between, for example, truth vs. loyalty, justice vs. mercy, short-term vs. long-term consequences, and the individual vs. the collective (Kidder 1995, p. 18; Stacks & Wright 1989, pp. 53-67). Public relations practitioners, by nature of their position and job responsibilities, are often in a crossroad of a range of competing interests. Often, the tension may be between the practitioner’s own values and the culture of the organization. In other cases, it may be a conflict between the practitioner’s professional code of ethics and organizational norms and expectations. In yet other circumstances, they may be faced with competing interests between the organization and its various publics. At the very least, practitioners will frequently confront contradictions between business demands for economic performance and public expectations for ethical conduct. Concerns over these competing responsibilities and the ethical dilemmas they produce for public relations are the subject of this essay. In it, a range of challenges faced by public relations practitioners related to issues of ethics and corporate social responsibility (CSR) are explored. It is argued that CSR has, in many respects, altered the expectations...
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