The Role of Business in Society - Essay Example

Thus, the individuals that approach decisions in this perspective feel that ethics in business is vital for maximum profits. In addition, decisions can be overlooked from the stakeholders’ point of view. In corporate social responsibility many firms make decisions and consider the interests and needs of the company’s stakeholders. This does not just base on the financial stake of the organization’s losses and profits. The various organizations which approach to vital issues in a firm from the perspectives of the stakeholders consider how the decisions have an impact to the people outside and inside the organization.

The stakeholders can either affect or be affected by the decisions and actions of a particular firm. Though the shareholders are stakeholders, they are not the only ones. Furthermore, other stakeholders include customers, suppliers, employees and competitors. In decision making, the stake holders make decisions that favor the affected parties. The managers are very vital in the decisions of the firm as they establish the ethical tone. The managers control the view of the employees on profits.

They set the recommended by the employees in ethical operation of the company. In the perspectives of the managers they set the business environment that encourages the other employees. For the company to operate in an ethical manner, the managers come up with decisions that encourage the employees to behave ethically. Therefore, the manager lead well to serve as an example to the employees. Business firms are supposed to assess their weaknesses and strengths in responding to the opportunities and threats in the environment.

The marketing objectives of most businesses aim at improving and increasing the satisfaction of the customer or increasing the sales. In contrary there are several constrains that can hinder the business from proceeding. This