Reference no: EM133088455
Response to the below post.
We describe business ethics as the values and norms that in business organizations determine appropriate behavior. Not only the company, but also stakeholders such as clients, rivals, government regulators, interest groups and the media, as well as the personal beliefs and values of each entity, decide the acceptability of conduct in business. Business ethics operate on two levels. At the individual level, decisions with ethical considerations need to be made in all areas of business.
Business ethics refers to the actions of a person or a working group that society judges as right or wrong, while social responsibility is a wider term that concerns the effect on society of the entire company's activities. The company as a whole, however, also bears a social responsibility. After all, it is society at large that makes the operations of any business possible. (Guest, 2019, p. 100)
In developing good business ethics, many experts agree that ethical leadership, ethical principles, and compliance are critical. Many customers and social activists think that corporations should not only make a profit, but also take into account the social impact of their operations.
The most significant step in understanding business ethics is identifying ethical problems. An ethical problem is an identifiable question, circumstance, or opportunity that requires a person to select prom among many acts that can be judged as correct or incorrect, ethical or unethical. Such a choice in business often involves balancing monetary benefit against what an individual considers to be acceptable behavior. On the surface, many business problems seem straightforward and simple to solve, but they are very complicated in fact. To understand what is appropriate or ethical, a person often needs many years of experience in business. For instance, offering or accepting bribes, which are payments, gifts, or special favours intended to influence the result of a decision, is considered improper
We describe social responsibility as the duty; of an organization to maximize its beneficial effect and minimize its detrimental impact on society. Social responsibility is an ethical or ideological theory stating that an organization or individual has an obligation to society at large. Sometimes this is referred to as the "social contract" between business and society and includes the informal expectations that the public holds for business practices. (Guest, 2019, p. 101). Social responsibility comprises four aspects, with one of them being ethical responsibilities. Ethical responsibility is an alignment of the expectations and norms of the society with those of the business. Ethics are a part of the peculiar features of a society that are unique to it and, thus, cannot be excluded from a total, holistic assessment of the social effect of business actions.
In general, the four aspects of social responsibility are ethical, economic, legal and philanthropic, which are critical to maintaining good business relations with society (Guest, 2019, p. 101).
My busines applies by putting in place healthy and safety regulations for my employees. Constant health and safety trainings enables the employees maintain trust and confidence in the organisation. I creates the belief that the organisation cares for their wellbeing. Aside that paying taxes on time and is one important activity we ensure in my organization.
On the other hand, my organization every year investigates our neighboring communities to find out if anything can be done to improve their living standards. Two months ago, my organization launched a scholarship program for the brilliant but needy kids in the community.
Being a socially responsible company can bolster a company's image and build its brand. Social responsibility empowers employees to leverage the corporate resources at their disposal to do good.