Decision Making Management - Assignment Example

ronment and surrounding in which it operates its business operations and also to continue to retain its customers by ensuring them that the company is effectively fulfilling its corporate social responsibility. Developing business ethics is one of the key issues for an organization and implant of such issues is extremely vital. Governments frequently focus on sustainability issue, which is associated with ethical issues and ethical standards as well. According to Hemmingway (2009), companies need to capitalize such business opportunities for the purpose of avoiding the negative outcomes for the company and also to further enhance the overall influence of its business operations on the economic life of the region, in which it operates its business operations.

By fulfilling its social, environmental and economic duties towards the society, a company can enable itself to ensure the society and its people that the company is doing a productive job for society and environment as well. Often it happens that organizations are compelled to extend their capacity regarding corporate social responsibility by its stakeholders and organizations are well aware regarding the fact that if they do not fulfill the expectations of their stakeholders on timely basis, then they may have to face some severe consequences of it.

Gray (2006) states that organization must ensure that they effectively communicate with its stakeholders all the major social issues, such as, pollution, employment, plant closures and other various major social issues and also the measures which the organization plans to adapt for the purpose of resolving such issues. In the recent times, companies have become extremely cautious and aggravated regarding to improve their business operations from the social point of view, that is understand and address the social issues on regular intervals, because the stakeholders of the company expects from it to do so on constant basis.

Stakeholders include all the