Essay about A Role of Ethics and Social Responsibilities in Management.

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A Role of Ethics and Social Responsibilities in Management.

Ethics can be defined as a process of evaluating actions according to moral principal of values(A.Alhemoud). Throughout the centuries people were trying to choose between profit and moral. Perhaps, some of them obtain both, but every time it could have roused ethical issues. Those issues concern fairness, justice, rightness or wrongness; as a result it can only be resolved according to ethical standards. Setting the ethical standards for the way of doing business in corporation is primarily task of management. Corporations have to maintain the same standards as an individual person and, in addition, corporations, as organizational units, have their own social
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They emerged from individual ethical standards and corporate consciousness. Moreover, the public demand for prosecution of any violations of corporate, professional and business ethics has been increased. Finally, mass media made possible for society reveal secrets that were kept from public before. So, the business conduct regulations were created to "draft guidelines for ethical conduct, develop a process for monitoring business practices and recommend ways to correct questionable activities." (J.Byrne) All these measures were taken to balance various social responsibilities with the high degree of moral and sense of attainment. Unfortunately, cooperation of unethical behavior of a manager with a journalist may lead to an undesirable results. "Early in December 1995 , Smart
Money's editor-at-large James J. Cramer wrote an article for his monthly column;
Unconventional Wisdom, __________________________________________________________
______________ Alhemoud, Ali "Management Ethics is Smart Business."

Recommending four $2 to $6 "oprahn" stocks. Trading records show that at the at the peak, Cramer's firm had paper profits of more than $2 million on the stocks. The gain occurred because he had adopted at least three of the "oprhan" sometimes before writing the
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