Business Ethics And Social Responsibility

The Cheesecake Factory has been one of the more successful chain restaurants in recent years because they have provided great food and outstanding customer service in a fun atmosphere. The cheesecake factory employs a high standard of general conduct and moral aptitude. As a chief executive officer in today’s society, it is my responsibility to ensure The Cheesecake Factory abides by the laws and ethical duties that are mandated by today’s society. There is a copious amount of benefits to being a chief executive officer, however there is an equal amount of risk as chief executive officers are held liable for almost any action or infraction that their company has induced.

Business ethics refers to the consideration of moral decisions and responsibilities in the process of operating a business. Business ethics, practiced throughout the deepest layers of a company, become the heart and soul of the company 's culture and can mean the difference between success and failure. Values drive behavior and therefore need to be consciously stated, but they also need to be affirmed by actions. Ethical business environments are created with foundations of integrity, accountability and commitment.

From a business ethics stance “corporate social responsibility” (Velazquez, 2007, pp. 23), refers to the social interest an organization manifest in the environment it operates. SoftMagic has not seized opportunities from corporate social responsibility. In the U.S., the use of pro-bono activities to develop networking is fundamental considering that multiple leaders of different firms participate and engage in activities that consequently offer an opportunity to market and increase the awareness of the organization. One more time, the cultural challenge seems to have affected the opportunities for SoftMagic.

The notion of ethics deals with people’s behaviors within a company. Social responsibility involves a company’s moral obligations and the manner in which the organization makes its decisions. Although ethics and social responsibility are similar on a conceptual basis, each has its own unique characteristics that express their differences and its independence of the other. Ethics and social responsibility have to be present and coincide with one another for a business to be ethically sound.

Corporate social responsibility incorporates environmental, social, and economic dimensions that provide leadership and differentiation opportunities for perceptive organizations. However,

Milton Friedman was a 20th century American economist who advocated free-market capitalism. In 1970 he submitted an editorial article entitled “The Social Responsibility of Business is to Increase its Profits” to the New York Times. In the article, Friedman argues that in free market systems it is nonsensical to make corporate entities adhere to “social responsibilities of business” pushed by activists, as corporations are artificial in nature, and thus do not have any social responsibilities other than to make money for the shareholders of the company. I will argue against this paper and support the claim corporations do in-fact have moral and ethical obligations to more than just their shareholders, and that many individuals have their stakes and livelihoods embedded within the acts of corporations. As well, the idea in the article that corporations are not moral agents has led to unsavory violations of human rights across the world, failing Kant’s second formulation of the Categorical Imperative, as well as not satisfying Act Utilitarianism. Thus, corporations, and individuals within those corporations, possess considerable ability to make ethical decisions that have great impact to many people, culminating in the truth that corporations have moral status.

1. How would you advise Craigslist? Discuss the legal and practical issues involved and how they should be resolved, and explain why?

A business must operate with ethics as a guiding principle to be successful and profitable. A company that is publically traded bears a responsibility of being a good steward of the profits the company earns, for the stakeholders, employees, and clients. The social aspect of a company and ethics go hand-in-hand. If a business fails to act ethically responsible, the result of that behavior can affect it socially. “The concept of social responsibility proposes that a private corporation has responsibilities to society that extend beyond making a profit” (Wheelen & Hunger, 2010, pg. 72).

In a narrative format, discuss the key facts and critical issues presented in the case.

Galen McDowell was a good salesperson who knew how to purchase the higher performances out of the salespeople under him. Bob wanted to sign a big contract with Kinan Motor who

Ethics and social responsibility are important areas within Chipotle Mexican Grill’s business. Both areas have an interactive relationship that plays a role in building profitable businesses as well as a well-rounded community. Ethics refer to sets of beliefs about right and wrong; and business ethics involve the application of these issues in the workplace. The universal ethical standards, which involve trustworthiness, respect, responsibility, fairness, caring, and citizenship, are standards that apply to all people and should definitely be held high within the workplace. Social Responsibility is the obligation of a business to contribute to society. Chipotle’s social responsibility affects

Is the deception of consumers worth making a profit? The Ford Pinto, popular car of the 1970s, made a profit off of a vehicle that endangered the lives of hundreds of people. In his essay “Pinto Madness” Mark Dowie, author and Pulitzer Prize nominee, exposed the unethical decisions made by Ford Motor Company. When it came to their customer’s safety and profit for the company, Ford made a decision that led to consequences their customers had to pay the price for. Should the business be held accountable for these actions? In his essay “The Social Responsibility of Business Is to Increase Its Profit” Milton Friedman, powerful economist, discusses what a business should prioritize in the economic system. Friedman declares what a business is responsible for and the guidelines they must follow. Due to Friedman’s view, he would not have condoned the actions and decisions that the executives at Ford Motor Company took.

Corporate social responsibility has been one the key business buzz words of the 21st century. Consumers' discontent with the corporation has forced it to try and rectify its negative image by associating its name with good deeds. Social responsibility has become one of the corporation's most pressing issues, each company striving to outdo the next with its philanthropic image. People feel that the corporation has done great harm to both the environment and to society and that with all of its wealth and power, it should be leading the fight to save the Earth, to combat poverty and illness and etc. "Corporations are now expected to deliver the good, not just the goods; to pursue

A corporation must try to avoid egregious negative externalities, must actively promote corporate social responsibility (CSR), and must engage in philanthropy. Let’s take the example of the mining industry, in which 75% of mining companies (diamonds, copper, uranium, cobalt, etc.) are listed on the Toronto Stock Exchange1. For Canada, mining is a source of economic prosperity that brings along with it some risks. To maintain their competitive advantage, it is crucial for Canadian firms involved in mining to invest in programs that bring about long term prosperity for Canada as well as the populations in countries where the natural resources are extracted. One way that CSR is linked to competitive advantage is that it allows firms to anticipate potential negative changes in the firm’s external environment. For example, global capital markets adversely reacting to a Canadian mining firm’s exploitation of workers in the Congo, or increased pressure from sophisticated Non-Governmental Organizations using the media, or boycott campaigns.

ITC Ltd has worked exremly hard to start several procedures that have led to compliance of the standards of social responsibility. ITC’s dealings within the tobacco industry have contributed to the increase in company revenues and the company has worked towards following the triple bottom line and giving back to society. Most, businesses pay little attention to their social responsibilities and make it part of their overall strategy, instead they concentrate more on financial benefits from the sales of products. Consequently, managing business in a socially responsive manner contributes to the best combination of business success and societal acceptance, trust and loyalty. Giving back to the community in ways that benefits only society such as planting trees to curb pollution and help the environment or using biodegradable materials in packaging can reap financial benefits to a company by building loyalty among the community. The notion of business ethics and corporate social responsibility is becoming a defining concept in all industries worldwide. ITC believes in the Triple Bottom Line philosophy where the performance and perception of a corporation should not be judged only on the basis of its financial statements or revenues, but its environmental and social performance as well. ITC is one of the only companies in the world to be carbon positive, water positive, and conduct solid waste recycling. ITC provides water to areas where water is very