Business Ethics Ethical And Socially Responsible

What is needed to help ensure that a business is ethical and socially responsible, and why are these essential to a thriving business? â€Å"It is difï ¬ cult to get a man to understand something when his salary depends upon his not understanding it. † - Upton Sinclair When people with similar aspirations get together, they form an organization and work towards achieving a common goal. In the corporate world, it is about running a business to satisfy the needs of the stakeholders. In this context, business ethics are moral principles that guide the way we perform business. Usually, the same values that regulate an individual’s actions also apply to businesses. Acting in an ethical way involves distinguishing the â€Å"right† from the â€Å"wrong† and then making the â€Å"correct† choice. Often, it is easy to identify unethical business practices; for example, companies should not should not unlawfully use child labor or participate in corruption. It is not always as easy to create such clear definitions of what good ethical practice is. I believe that having great people simplifies the matter for as Jeffrey Gitomer once said, â€Å"Great people have great values and great ethics.† If the very people who constitut e and run the business imbibe the spirit of ethics, the sum of the parts would always be greater than the whole and the business would thrive ethically. If we say that running a business is about people, the ethics of business is about their behavior. Ethical behavior largely depends onShow MoreRelatedBusiness Ethics : Ethical And Socially Responsible Behaviors2491 Words   |  10 Pagesorganizations believed business ethics was only a way of managing compliance of legal principles and adherence to internal regulations and policies. Today the situation is different. Attention to business ethics is on the rise and many companies realize that in order to succeed, they must earn the respect and trust of their employees and clients. Presently organizations are being pushed to better their business performance to stress legal, ethical and socially responsible behaviors. OrganizationsRead MoreBusiness Ethics : Ethical And Socially Responsible Behaviors2491 Words   |  10 Pagesorganizations believed business ethics was only a way of managing compliance of legal principles and adherence to internal regulations and policies. Today the situation is different. Attention to business ethics is on the rise and many companies realize that in order to succeed, they must earn the respect and trust of their employees and clients. Presently organizations are being pushed to better their business performance to stress legal, ethical and socially responsible behaviors. OrganizationsRead MoreBusiness Ethics and Social Responsibility Essay1471 Words   |  6 PagesEthics in the workplace help the organization to grow and prosper. They bring about leadership, work culture and literacy. Ethic are beliefs about what’s right or wrong and good or bad based on individual’s values and morals, plus a behavior social context. Ethical behavior conforms to individual beliefs and social norms about what’s right and good. Unethical behavior conforms to individual beliefs and social norms about what’s wrong or bad. Business ethics refers to ethical or unethical behaviorRead MoreEthical And Socially Responsibl e Business Practice Within A Business Case1388 Words   |  6 Pagesstrengths, limitations and challenges of ethical and socially responsible business practice within a business case of my choice – ALDI Supermarket. Introduction In April (ALDI) over took Waitrose at the UK’s sixth-biggest supermarket with 5.3% of the market share, and aiming to increase its UK workforce to 35,000 by 2022 (ALDI) is going from strength to strength, is excessive profit earning related to this business applying an ethical and socially responsible business practice? This essay aims to exploreRead MoreSustainability Report of BP1447 Words   |  6 PagesWhat responsibility did the executives of BP have in making more socially responsible and safety conscious decisions at the expense of not meeting the consumer demand of cheap gas and thus lowering the returns for shareholders and their own compensation? Executives in many prominent companies must constantly be aware of consumer sentiments in regards to business practices. As such, executives have a very compelling social obligation for safety and compliance. This is particularly important in industriesRead MoreEthical And Socially Responsible Behavior Plan837 Words   |  4 PagesEthical and Socially Responsible Behavior Plan for New Business Developing an ethical and socially responsible behavior plan is a critical requirement when starting a new business. Without the integration of concern at the very beginning of the planning process, as well as throughout the process, the organizational culture may not provide the checks and balances needed to develop ethical and socially responsible business programs. My plan should include how the community would be affect, socialRead MoreEthics And Values And Ethics872 Words   |  4 Pages Ethics and values are a part of every human being, but not everyone has the same set. The ethics and values that a person may have usually come from their upbringing, religion, and other circumstances they may go through. To be a successful manager, one must know a few things about ethics and values and be socially responsible. The first thing managers need to know is that employees with higher ethics and values most often believe in a higher authority, such as a supreme deity. If in the case ofRead MoreDefine Ethics and Social Responsibility and Explain Why They Share Common Characteristics in an Organisational Setting. Identify Recent Examples Where Ethical Practices or Social Responsibility Have Not Occurred and the Implications for Stakehold...1651 Words   |  7 Pagesorganizations viewed ethics,social responsibility,business ethics only in terms of administrative compliance with legal standards and adherence to internal rules and regulations. Today the situation is different. Attention to them is on the rise across the world and many companies or organizations realize that in order to succeed, they must earn the respect and confidence of their customers. Like never before, corporatons are being asked, encouraged and prodded to improve their business practices to emphasizeRead MoreEthics And Social R esponsibility859 Words   |  3 Pagesï » ¿Ethics and social responsibility 1. Introduction The contemporaneous business environment is more dynamic and more competitive than ever, reflecting a wide array of changes and challenges emerged from within the micro and the macro environments. An important example at this level is represented by the increasing pressures posed by the various categories of stakeholders. The employees become more knowledgeable, more valuable and as such more demanding; the competition intensifies from bothRead More Define Ethics And Social Responsibility Essay1556 Words   |  7 Pagesorganizations viewed ethics,social responsibility,business ethics only in terms of administrative compliance with legal standards and adherence to internal rules and regulations. Today the situation is different. Attention to them is on the rise across the world and many companies or organizations realize that in order to succeed, they must earn the respect and confidence of their customers. Like never before, corporatons are being asked, encouraged and prodded to i mprove their business practices to emphasize