Role of Ethics and Social Responsibilty Essay

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The Role of Ethics and Social Responsibility
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Abstracts Ethics and social responsibility occupy an important place in human value system. Customer confidence in how business operates has been severely shaking by recent corporate scandals and collapses, such as Enron and bank failures. Hence it is important for companies to consider incorporating ethics and social responsibility into their strategic planning. The (term) ethnics are derivative from the Greek word ethikos, which meaning tradition or character. In philosophy ethical behavior is that which is respectable in the area of moral, philosophy involves in developing, defensive and also recommending concept
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Nevertheless, the decisions should not be unethical that the reputation of the corporation is risking (Wheelmen, T. & Hunger, J. (2010) Ethics ensure that a company achieves its mission, vision, goals, and objectives in such a manner that they give a company a sense of direction and framework. Ethics ensure guidelines are creating that bind the entire organization into one common thread, govern the action of the organizational employees, and avoid deviation from the desired strategic path. Five ways a company can ensure ethics is including in their strategic planning are O Establish explicit ethical goals and criteria, O Demonstrate commitment to ethical goals and criteria, O Communicate ethical expectations and train workforce to enact ethical goals and criteria, O Assess, and monitor employee behavior and decisions, and O Maintain ongoing proactive integrity continuity management Such a strong focus on ethics will ensure that each set of stakeholders will be happy and ensure that strategic plan that will their needs and wants, and the organization will act in the best interest of each stakeholder.
Considering Stakeholder The (word) stakeholder means any person with an interest in business, someone who can contribute to the company grows and success or who benefits from its success. The various stakeholders in business have differing role and their level of involvement in the enterprise varies
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