Premium Essay

Ethics and Social Responsibility

In: Business and Management

Submitted By Ileshia
Words 1486
Pages 6
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 issues is an obligation of every professional. Reflecting such ethical content or implications in one's decisions and actions must be salient in every aspect of how companies operate.
Ethics ensure that a company achieves its mission, vision, goals, and objectives in such a manner that they give a company a sense of direction and framework. Ethics ensure guidelines are created that bind the...

Similar Documents

Premium Essay

Ethics and Social Responsibility

...CHAPTER 6 Leadership Ethics and 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......

Words: 3791 - Pages: 16

Premium Essay

Ethics and Social Responsibility

...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......

Words: 994 - Pages: 4

Premium Essay

Ethics and Social Responsibility

...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...

Words: 707 - Pages: 3

Premium Essay

Ethics and Social Responsibility

...Ethics and Social Responsibility Ethics and Social Responsibility To gain further understanding into ethical and social responsibility one should begin by comparing the similarities and differences between virtue theory, utilitarianism, and deontological ethics. Through further insight of these similarities and differences one can begin to comprehend the importance ethics and social responsibility plays in personal and business success. The analysis below describes the differences in how each theory addresses ethics and morality. The analysis also includes a personal experience explaining the relationship between virtue, values, and moral concepts as they relate to one of the three theories. The conclusion explains how this information on ethics and social responsibility provides a road to success or failure, depending on the implementation of the knowledge one gains from the data and the decisions one makes. Utilitarianism Theory Working in teams is a very big part of today’s work environment. People work in teams at work as well as in the home. Teamwork is also a big part of the learning environment at University of Phoenix as well as other higher learning institutions. A good team player develops skills that can lead to successful completion of projects and helps with decision-making. Putting the best interest of the team before one’s personal interests is utilitarianism (Boylan, 2009). According to Boylan, “utilitarianism is a theory that suggests that......

Words: 1252 - Pages: 6

Premium Essay

Ethics and Social Responsibility

...Ethics and Social Responsibility MGT/498 September 2, 2015 Ethics and Social Responsibility Ethical behaviors offer significant advantages, society as hold benefits. Executives who behave ethically are better off and live more fulfilled lives, and unethical behavior can destroy an organization and the individuals who take part in it. Conducting business in the appropriate manner may not always generate the greatest profits however in the end it will lead to greatest personal satisfaction, fulfillment, and a successful outcome. What is Ethics? Ethics is the study of what constitute right and wrong behavior, it focus on morality and application of moral principals in the everyday life, also what is conform to our personal beliefs Business ethics focus on what constitute ethical behavior in the world of business, however it is not a separate behavior. Understanding business ethics is important to long viability to the business and the well-being of the officers and directors as well as the welfare of the employees (Merriam-Webster Dictionary). Ethical Standards and Behaviors The minimal acceptable standards for ethical business behavior are the compliance of the law. Ethical standards such as those in the company's policy and code of ethics must also guide decisions. Nevertheless, simply complying with the laws does not always does not necessarily make the business practice ethical. When can sometimes be ethical and still constitutes as being illegal? During......

Words: 1185 - Pages: 5

Premium Essay

Ethics and Social Responsibility

...Ethics and Social Responsibilities Randall Blow PHL/320 July 14, 2016 Lela Dennis Ethics and Social Responsibility Responsibility is an act whereby an individual or organization is accountable for an action done. An individual or organization ethical responsibility is to act, recognize and interpret on certain values and principles according to given standard that exist in a locality or context (Treviño, et al., 2014). What type of behavior do ethics determine that is acceptable in a given context? What is good and what is wrong doing this process. While social responsibility is acting with an ethical framework whereby an individual or organization is required to act for the benefit of the society has a whole (Suciu & Fisher, 2014). Social responsibility requires a company or team to maximize its profits and earning while minimizing its negative impacts on society that operates it. Although individuals use these terms interchangeably there exist some difference in their meaning and how we use them in other ways. Whether the business decisions are right or wrong when it comes to ethics, but social responsibility is a broader term that relates to activities within a business or enterprise and their impact on the world and society. Social responsibility and ethics concerns have been confined to regulations, policy and the law that which encourages companies to conform to people’s attitudes, values and standard. When business conflicts, actions or......

Words: 1209 - Pages: 5

Premium Essay

Ethics and Social Responsibility

...Ethics and Social Responsibility MGT/498 January 13, 2014 Introduction Ethics and social responsibility is important in developing a strategic plan. This must be balanced with the needs and agendas of the stakeholder. Companies have the responsibility of ensuring that they can set boundaries that they do not overstep and also implement preventative measures that can be taken to avoid unethical and irresponsible behavior and actions. According to thefreedictionary.com ethics is a set of principles of right conduct, a theory or a system of moral values. It is the rules or standards of governing the conduct of a person or persons. The behavior demonstrated is considered the right thing to do or the right way to act. When one acts ethical, they are doing the right thing for everyone involved. This can be hard to do. The benefit of the act must contribute to the greater good of those that will be affected. Ethics come from several sources, which vary by person. They come from religious beliefs and human conscience and intuition. Being socially responsible is to create a positive relationship to the society and the environment in which a company does business. A company can do this by considering their actions as it affects those around them. For example, a company that recycles paper and plastic can help the environment in many ways, from saving trees to dumping less non-biodegradable plastic in landfills. Or a company that donates to charitable causes like Toys for......

Words: 851 - Pages: 4

Premium Essay

Ethics and Social Responsibility

...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...

Words: 989 - Pages: 4

Premium Essay

Ethics and Social Responsibility

...around the world and lead the market in manufacturing cleaning products and storage for the home. SC Johnson is a company who is dedicated to the communities in which they operate and also to their innovative, high-quality products. They recognize communication among Nations can become challenging. By recognizing and defining the language barriers among the various cultures, SC Johnson is able to easily overcome the challenge of language barriers and work diligently together globally to stay on top in the industry. SC Johnsons commitment to each country they perform business in, is to be an innovative one stop shop for products that offer environmental benefits. Communication and green choices are essential in SC Johnsons cross-cultural ethics. SC Johnson is a global organization with a multinational presence that has manufactured household brands for over a century. Their worldwide locations include Africa, Asia, Europe, North America, and Australia. SC Johnson formerly stated the principals in ‘This we Believe’. Which is the essence of who they are as a global organization and how they expect their employees to work with others (SC Johnson, Inc., 2013). It explains SC Johnsons values to the stakeholders they are responsible to and who’s trust they intend to keep. These stakeholders include employees, consumers and users, general public, neighbors, and world community. SC Johnson is sincere in their beliefs which encourages them to act with integrity. They are supported......

Words: 1119 - Pages: 5

Premium Essay

Ethics & Social Responsibility

...About one percent of the United States population is incarcerated. As society has become more sensitive toward human right issues the laws have changed for prisoners. Despite the laws and previsions that has been put in place to protect the human rights of prisoners and make sure they pay their debt to society, several people think that it is not enough or it is too much on both sides of the issue. Utilitarianism is an ethical theory that determines the moral value of an act in terms of its results and if those results produce the greatest good for the greatest number (Mosser, 2010). From the utilitarianism perspective the issues with prisoner may be they are treated unfairly or too well. For several years the treatment of prisoners has been very poor and inhumane. In the pass prisoners were often beaten and put to death as a form of punishment. Prisoners live in poor conditions and were denied food and water at times. Various adjustments have been made to please the ethical and moral views of society. In 1909 when the Georgia Supreme Court granted prisoners civil rights despite not have other liberties Davenport (2009). Many people feel that prisoner should not have even human rights because they violated the law that puts them in the predicament. Therefor they prisoner should accept the punishment and also the hard life of the prison system. When prisoners face abuse, rapes and violate attacks no one......

Words: 546 - Pages: 3

Premium Essay

Ethics and Social Responsibility

...HISTORY OF MANAGEMENT PAPER “Organization Culture and Environment” Innovat Rachmana 15311167 Management IP Faculty of Economic Islamic University of Indonesia Yogyakarta, 2015 PREFACE Firstly all praise to Allah and peace be upon to our prophet Muhammad SAW. Thank to the abundance of his mercy. Finally I have finished this paper with the title “Organizational Culture and Environment” that hopefully can be useful for those who want to learn about organizational culture and environment and can contribute something for my grades, and to accomplish my task. In the preparation of this assignment there were a lot of obstacles that hampered me to complete this paper and make this paper is far from perfection. But after all, at least I hope this paper can be useful. This paper is made in order to explain to the readers about the meaning of organizational culture and environment, why organizational culture is needed, macro and micro environment, etc May this paper can fulfill the readers’ curiosity and can give a knowledge contribution especially the students in Islamic University of Indonesia. Innovat Rachmana WHAT IS ORGANIZATIONAL CULTURE? There seems to be a wide agreement that the meaning of organizational culture is a system of shared assumptions, values, and beliefs, which governs how people behave in organizations or a system of shared meaning held by the members that distinguishes the organization from other organizations. This system of shared meaning is, on closer......

Words: 2040 - Pages: 9

Free Essay

Ethics and Social Responsibility

...Intensity for our decision. Our scale is as follows: 1. Not Important 2. Little Importance 3. Some What Important 4. Important 5. Very Important We will consider the Six Factors of Ethical Intensity in our discussions and decision-making: 1. Magnitude of Consequences 2. Social Consensus 3. Probability of Effect 4. Temporal Immediacy 5. Proximity of Effect 6. Concentration of Effect We will choose two co-workers from the Women’s Against Violence Group, one town worker, and one corporate business worker. We gave each person a sheet with the Six Factors that contribute to Ethical Intensity and the scale listed on the paper and asked them to use the scale to rank the six factors. As a team, we will explore the Ethical Intensity and gage the amount of concern and importance for each of the factors using our ranking system. As a leader, I will ask my team to give a special emphasis on the “Magnitude of Consequences” for which we will determine positive and negative consequences for an alliance with the brewery company. Based on our compiled results of each factor’s importance and how each relates to the social and financial effects, and then as importantly, an evaluation of the negative and positive consequences, we will analyze the results. If the results show a higher percentage of “Positives” then we will accept the Famous Brewery and Bottling Company’s donations and fulfill their promotional......

Words: 564 - Pages: 3

Premium Essay

Ethics and Social Responsibility

...Ethics also known as moral philosophy; it involves systemizing, defending, and recommending concepts of right and wrong behavior(Michael, 2009). There are several different types of ethical belief systems, in which one would act completely different from the other. Virtue Ethics, Utilitarianism, and Deontological ethics have some similarities, but in the same sense are very different. Virtue Ethics is a system that states; that in living your life you excel and be excellent in everything that you do, and all that others do(Michael, 2009). In a way, I can relate to that. Being taught that everything I do I had better do it to the best of my ability! When I was growing up failure was not an option. I still to this day strive to be better, at no matter what I am doing. This viewpoint has made me very competitive in almost every aspect of my life. Utilitarianism is a theory that states an action is morally right when the action is for the greater good of your group(Michael, 2009). Whether it be; your family, your job, or in some countries your town, or your village, whatever benefits all of them is right. I can relate to this being a father. I will provide for my family, and make sure that my actions benefit them. I am constantly putting my wants on the back burner to better suit my family. Deontology is a theory that states, it is your duty to do a certain action just because that action is considered the right thing to do, no matter what the outcome......

Words: 434 - Pages: 2

Premium Essay

Ethics and Social Responsibility Essay

...Ethics and Social Responsibility Essay Nampung Panpaisal Northeastern University College of Professional Study The general purpose of project management is to advance the projects toward success, which includes ensuring they are completed on time, within budgetary constraints, of high quality, and they accommodate the assigned responsibility. To accomplish projects, laborers may capitalize on various theories and principles as guidelines. Examples of this include following project management process in an orderly fashion, starting with initiation, moving to planning, advancing to execution, following with monitoring and control, and wrapping up with closure. This also is best done by adhering to project management knowledge areas, which include management of scope, risk, time, budget and additional components that are integral to the process. The successful execution of these practices helps with the efficient advancement during each step of the project. Furthermore, completing tasks with ethical and social responsibility is another vital step of the process as project team members will be more coordinated when directing tasks. Merging efforts also aids the cooperation of team members. Different projects require the involvement of laborers with assorted skills and these workers hail from varied backgrounds and cultures, possess unique knowledge bases, and have endured an array of experiences. While these combinations can prove to be successful to projects, they......

Words: 998 - Pages: 4

Premium Essay

Social Responsibility and Managerial Ethics

...Social responsibility and managerial ethics You may be wondering, “Why should I care about corporate social responsibility or managerial ethics or whether or not my employees have health care benefits? Aren’t these the types of issues philosophers worry about?” To answer this question, you only need to pick up a recent newspaper or business magazine. Everything from Wall Street trading scandals to accounting frauds at AIG, Lehman Brothers, Enron, Parmalat, Satyam, WorldCom, Tyco, and Global Crossing to corporate cover-ups and massive oil spills from British Petroleum’s offshore drilling rig explosion in the Gulf of Mexico seem to be in the press daily. For example, Citicorp lost billions in market value when it was revealed that a group of traders in the firm’s London office had manipulated the bond market: A small set of traders disrupted the European bond market by placing 188 sell orders simultaneously (approximately $20 billion worth of bonds) on August 2, 2004 in about 18 seconds. This drove the price of bonds, in general, down dramatically. The prices continued to drop even after the Citibank traders stopped selling. Just a few minutes later, the same traders then bought the bonds back at much cheaper prices than they had been sold. This new buying triggered buying by other traders, and prices rose. In the process, Citibank traders made about $20 million in profits in under five minutes. Although the employees did not do anything illegal, their......

Words: 13074 - Pages: 53