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Business social responsibility WHY IT MATTERS
The role of ethics in today's corporate world
The role of ethics in today's corporate world
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Recommended: Business social responsibility WHY IT MATTERS
Social Responsibility and Ethics Social responsibility is an ethical theory, in which individuals are accountable for fulfilling their civic duty; the actions of an individual must benefit the whole of society. In this way, there must be a balance between economic growth and the welfare of society and the environment. If this equilibrium is maintained, then social responsibility is accomplished. What it Means to be Socially Responsible and Ethical? The theory of social responsibility is built on a system of ethics, in which decisions and actions must be ethically validated before proceeding. If the action or decision causes harm to society or the environment then it would be considered to be socially irresponsible. Moral values that are inherent …show more content…
In this way, there must be a balance between economic growth and the welfare of society and the environment. If this equilibrium is maintained, then social responsibility is accomplished. What it Means to be Socially Responsible and Ethical? The theory of social responsibility is built on a system of ethics, in which decisions and actions must be ethically validated before proceeding. If the action or decision causes harm to society or the environment then it would be considered to be socially irresponsible. Moral values that are inherent in society create a distinction between right and wrong. In this way, social fairness is believed (by most) to be in the “right”, but more frequently than not this “fairness” is absent. Every individual has a responsibility to act in manner that is beneficial to society and not solely to the individual. When Do Social Responsibility and Ethics Apply? The theory of social responsibility and ethics applies in both individual and group capacities. It should be incorporated into daily actions/decisions, particularly ones that will have an effect on other persons and/or the environment. In the larger, group capacity, a code of social responsibility and ethics is applied within said group as well as during interactions with another group or an individual. Businesses have developed a system of social responsibility that is tailored to their company environment. If social responsibility is maintained within a company than the employees and the environment are held equal to the company’s economics. Maintaining social responsibility within a company ensures the integrity of society and the environment are protected. Often, the ethical implications of a decision/action are overlooked for personal gain and the benefits are usually
Social responsibility deals with the moral belief that each individual has the job to leave a positive impact on society, and more importantly they must carry out what is expected of them by society. It is about being responsible for our behavior and being mindful of the effect our behavior have on others, our communities, and the environment as a whole. For a student, that could mean being respectful and caring towards other students. For an adult, this could denote paying taxes or driving at the required speed limit. F.Scott Fitzgerald integrated the concept of social responsibility into his American Classic Novel, The Great Gatsby, to fight the infidelity, dishonesty and greed that is ruining the peace of the society. In this novel, the
n this reflective journal entry, we are going to look at that the ethical issues that were presented in the Ethics Game simulations, the decision-making steps that were completed to address ethically the issues, and the ethical lenses that I used to make decisions throughout the simulation. We are also going to take a look at how these different ethical lenses influenced my decision and the how I could use the concepts that I have learned in my workplace.
Ethics is defined as values relating to human conduct with respect to the rightness and wrongness of certain actions and to the goodness and badness of the motives and ends of such actions. It represents the core value system and the moral precepts held, or rules of conduct followed by individuals, institutions, or societies while making choices in the course of everyday problem solving. They create a framework for determining “right” versus “wrong”. (Journal, n.d.)
So before we go in greater detail on the different perspectives related to social responsibility, one might question the meaning of social responsibility. It is generally agreed that social responsibility is defined as the business obligation to make decisions that benefit societ...
Values determine what is important in decision-making. Ethics involves conduct, the ability to determine right and wrong. All organizations face ethical dilemmas. Organizations develop corporate social responsibility in reaction to the values and expectations of society. Corporate social responsibility initiatives aim to protect public health, safety and the environment (Joyner, Payne, & Raiborn, 2002)....
Every business has a social responsibility toward society. That means to maximize positive affects and minimize negative affects on the society. Social responsibilities includes economic-to produce goods and services, that society needs at the price, that satisfy both-business and consumers, legal responsibility-laws that business must obey, ethical responsibilities-behaviors and activities that are expected of business by society, but are not codified in the law, philanthropic responsibilities-represent the company’s desire to give back to society (charietys, volunteering, sponsoring).
Social responsibility allows for the market system to be centrally controlled by forcing shareholders to unwillingly contribute to social responsibility. While this idea of social responsibility may help companies in the short run, it will ultimately hurt them in the long run. Each person has their own values and responsibilities and “society is a collection of individuals and of the various groups they voluntarily form” (55). Businesses, as Friedman understands, are separate from this society since individuals are the only ones who can hold values and responsibilities. Subsequently, businesses are freed of the need to embed social responsibility into their practices and should focus only on creating the largest profit possible for their shareholders
In philosophy, there are many different views regarding what is thought to constitute ethical behavior. Among them are the cultural relativist, utilitarian, and Kantian. Given a situation where someone must choose to either kill one person out of thirty so that the others could live or let all thirty people die in order to maintain their moral duty, the distinctive philosophical views would lead to varying responses. They contribute opposing ideas on what the right decision is. Generally, these three ethical theories have the power to influence what happens next.
Corporate social responsibility (CSR) is similar to an individual’s social responsibility. An individual who is socially responsible is aware of how their decisions affect the environment. Corporate social responsibility can be define as “how well a company meets its economic, legal, ethical, and discretionary responsibilities” (Peter & Sarah, p. 51). Corporate social responsibility holds businesses accountable to stakeholders such as consumers, in areas of concern such as environmental factors, community and society in general. As a result successful CSR initiatives creates a sustainable company in all ways: financially, ethically, environmentally, and socially. The moral problem with CSR is based on the belief that “CSR would be a cost that would be higher than the perceived benefits. By financially supporting “charity” based initiatives, firms are not performing their fiduciary duty to their stockholders” (Peter & Sarah, p. 49).
As a function, ethics is a philosophical study of the moral value of human conduct, and of the rules and principles it should govern. As a system, ethics are a social, religious, or civil code of behavior considered correct by a particular group, profession, or individual. As an instrument, ethics provide perspective regarding the moral fitness of a decision, course of action, or potential outcomes. Ethical decision-making can include many types, including deontological (duty), consequentialism (including utilitarianism), and virtue ethics. Additionally, subsets of relativism, objectivism, and pluralism seek to understand the impact of moral diversity on a human level. Although distinct differences separate these ethical systems, organizations
Social responsibility is the part of the framework of an organization or individual which makes up an obligation to act for the benefit of society. There are many different ways act out social responsibility. The social responsibilities of a business can be classified according to the businesses relationships to the general public, customers, employees and investors. The companies that make their product or service with the rooted mindset of benefiting the community and the world around them do this by providing things like scholarship funds, all natural products, biodegradable storage, and or just by treating the consumer as well as the employees as individuals rather than a corporate dollar sign. Businesses may exercise
Ethics are moral principles or values that govern the conduct of an individual or a group.It is not a burden to bear, but a prudent and effective guide which furthers life and success. Ethics are important not only in business but in academics and society as well because it is an essential part of the foundation on which a civilized society is built.
Business ethics and social responsibility are two concepts many individuals believe go along together for corporations in the business environment. Business ethics are the moral values a company uses to ensure all employees action in a standard manner when completing business functions. Social responsibility is typically a conceptual theory that governments and the general public hold, believing that businesses should not conduct themselves in a manner counter to cultural or societal norms. The connubial of these concepts happens when companies introduce a written code of ethics to demonstrate that the company only acts in its greatest interest so long as it does not damage the company’s social responsibility.
However, there can be more definitions about what Corporate Social Responsibility can be. For example, Corporate Social Responsibility can be the commitment which is continuing for a business to behave ethically and bring to economy the development to improve the workforces’ of the whole society and local community and their families’ quality of life. Corporate Social Responsibility is also known as the obligation of a company to serve the society’s interest and of course its own. With the help of the Corporate and Social Responsibility, social and environmental concerns companies can integrate into their business and stakeholders operations.
Ethics is a system of moral principles and a branch of philosophy which defines what is acceptable for both individuals and society. It is a philosophy that covers a whole range of things that have an importance in everyday situations. Ethics are vital in everyones lives, it includes human values, and how to have a good life, our rights and responsibilities, moral decisions what is right and wrong, good and bad. Moral principles affect how people make decisions and lead their lives (BBC, 2013). There are many different beliefs about were ethics come from. These consist of; God and Religion, human conscience, the example of good human beings and a huge desire for the best for people in each unique situation, and political power (BBC, 2013).