Ethics and Social Responsibility: Virtues, Values, and Moral Concepts

611 Words2 Pages
Ethics and social responsibility - virtues, values and moral concepts The contemporaneous business society is highly complex and dynamic, forcing the economic agents to develop newer and better strategies by which to consolidate their competitive positions. In a context in which the technologies evolve rapidly, the customers grow more pretentious, the laws change and the public becomes more demanding, the economic agents are coming to use the concepts of ethical conduct as part of business strategies. In other words, the objectives of the economic agents remain the ever lasting pursuits of profitability, yet the modern day society sees this pursuit also to include ethics and social responsibility. The companies will as such strive to attain their profits by also satisfying the needs and demands of various categories of stakeholders, such as customers, employees, business partners, governmental and non governmental agencies, the general public and so on. The first step in understanding the ethical and responsible conduct of the economic agents is represented by a comprehension of three critical concepts, namely the virtues, the values and the moral concepts. In an informal setting, these could be perceived as synonyms, whereas they are in fact different concepts. The virtues are understood as traits in the character of an individual that define their behavior. They are positive traits (as opposed to vices) which allow the individual to recognize the right and act in
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