The paper aims to discuss on these issues and lastly provides a recommendation, as the management should promote the practice of ethics, the policies, procedures should follow the code of ethics which would leads to competitive advantage for the firm. …
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Ethics and social responsibility and its affect on organization
A Business enterprise is portrayed as an entity doing business to make a profit and forms an integral part of the community, society and market. The social responsibilities of a business are to improve performance, make profits and fulfilling the expectation of its stakeholders. Responsible business addresses the issue on ethics and social responsibility which is faced almost every day in the economy. Programs on business ethics provides the business with management and leadership practices helps in complying with the rule and regulation, minimizing the risk and bring value to the stakeholders (ITA, n.d, p.31). Thus the purpose of the report is to state the benefits of adopting the ethical and social responsibility practices in businesses.
The main idea behind the report is to analyze the claim that by practicing ethical and social responsibility in business leads to increase in efficiency in the work place. Practice of ethics leads to good reputation of the company and the effect that ethical and social responsibilities have on the relationship with employees, customers and investors.
The scenario talks about being ethical in business and practicing the habit of social responsibilities. The audience constitute of the CEO of the company, the HR, marketing manager, operation manager and also the employees. This is because the field of business ethics has changed as firms had recognized the benefits of conducting ethical conduct. Ethics contributes to firm’s commitment towards its employee, customer’s satisfaction and also towards the investors. It is necessary to practice ethics as most of the organization today aims to create a core competency against its competitors by way of practicing ethics and social responsibility. Organization with unethical practices are usually not looked a strong business organization and investors and customers often hesitate to invest in such organizations. Therefore organization with ethical value often tends to stay ahead from the unethical firms. Even employees would deliver high performance when they work in a good corporate culture which ultimately leads to the success of the firm. Body Present the Information gathered Ethics and social responsibilities help the organization to increase efficiency. Managers always try to make the best use of the resources in order to increase the level at which organization perform. Pressure to increase performance is often regarded as healthy as it allows managers to question the way organization works and thus bring changes by practicing social responsibilities and ethicality (Jones, 2009, p.39). Business ethics and social responsibility can affect the reputation of the company. Practice of ethics can help in building reputation among employee, the customers, stakeholders and the general public (Ferrell, Fraedrich & Ferrell, 2008, p.25). Business ethics
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