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Responsible Management - Essay Example

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In the last few years, there has been a growing trend of conducting ethical practices within and outside organizations which are beneficial to the community and its people. In order to demonstrate that corporations are engaged in proper and ethical business activities, the…
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Responsible Management
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Download file to see previous pages It is important for every organization to consider the social, economic and environmental systems in which it is operating. In the long-run it is the corporations that develop a long-term vision for their business along with fulfilling their responsibilities towards the society which are able to sustain their development in the economy (Albareda, 2008; Crane et al., 2008).
Due consideration of the environment in which the organization is operating will help to ensure that all the functions of the organization are conducted in the right perspective and in an ethical manner. When an organization accepts its involvement in controlling the economic resources of the society, the management will automatically be accountable to the society about the assets used. This level of accountability needs to be conducted on fair grounds and in a sincere manner by the organization. Even in cases where the organization faces losses, it should still maintain its accountability and not indulge in any false practices or excuses.
In order to help managements fulfill their social responsibilities several models have been proposed and one such concept is the ‘Triple Bottom Line’ (TBL) (Park & Stoel, 2005). The introduction of this concept acted as a vehicle for proper and clear reporting of the corporation’s environmental, economic and social performance (Ketola, 2009). Performances related to the environment and social concerns can be monitored with the help of this concept. TBL has grown in popularity as it assists an organization in determining the extent to which it is successfully meeting its responsibilities towards the community.
The concept of TBL has given a direction to the management in developing the goals and objectives of the organization according to its business environment. By following the guidelines specified in the ...Download file to see next pagesRead More
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