How Do You Define Business Ethics And Social Responsibility?

Welcome to IBM, one of the most prestigious corporations in the United States. We are genuinely excited for you to become part of our team and start working on projects. As a new employee, there will be a lot of information that will be put in front of you. Before you get more specific information on the specialized jobs you will be completing, it is extremely important that you are aware of the certain business polices we have at this corporation. There are numerous policies in our company. These may be found in the document Business Conduct Guidelines. This memo will cover only those topics that are found in the guidelines that relate to writing ethically and handling written materials properly. This focus is very important in the business world because we are faced with ethical dilemmas every day. How you react in these situations may affect your job security, salary, and most importantly, your reputation as a professional.

Running a business is about more than just making money. It requires adequate consideration to a number of issues, of which ethics is most certainly one. As a business grows and becomes more significant, it impacts the lives of people in so many ways. But without a clear understanding of business ethics, a company can lose its business by ruining its reputation and alienating employees, suppliers and the local community around it. With recent expansions in global businesses and the decrease of trade barriers worldwide, the importance of ethics in business has been further underlined.

The first question we should ask ourselves “what is ethics?” I think ethics are a collection of principles and practices that a business believes in, statements and more specific policies about conduct to give employees, partners, vendors, and outsiders an idea of what the corporation stands for and how it’s staff should

Although Lance has plenty of personal experience with BB bacon, as is legally required for him to give a personal testimonial, and he has always preferred BB to any other brand of bacon, Lance has recently turned into a vegetarian for the past one

When talking about business ethics, we can define ethics in a form of professional principles, morals or problems that arise in a business environment. This applies in all aspects of business for people dealing in organizations on how they base their decisions in a form on what they feel is right or wrong. Having a good understanding on how ethics plays a role in business environment, will allow a person more insight on how their values and behavior oversee business practises. Building a good code of ethics will allow an individual or organization to create trusting relations, a good reputation among society, inclusive to all demographics, especially those seeking employment within the company along with many other advantages.

Ethics are principles of behavior based on the ideas of what is good and what is bad. Business ethics, or also known as corporate ethics, is a form of ethics that is used in the business environment. The study of business ethics looks at the decisions that businesses make and whether those decisions taken are right or wrong. Many company executives are unethical, because their number one goal is not to satisfy customers, or clients; Instead their number one goal is to make as much profit as they can no matter what. What this type of companies fail to realize is that there is long-run and short-run profit maximization. A company can maximize its profits by in the short-run by being unethical; however, in the long-run, the bad publicity, lawsuits, etc. will make the company suffer plenty in both the public appearance and the monetary aspect. One of the biggest legal scandals of a company being unethical was in 2001, when, Enron, a natural gas pipeline company went from having $65 billions in assets to being bankrupt 24 days after. Enron Corporation was founded in 1985, in Houston, Texas, it was a merger between Houston Natural Gas Co. and InterNorth Inc. Enron reached dramatic heights, it was the seventh largest corporation in America, and named the “Most innovative company” by Fortune magazine for 6 years straight. Enron innovated the entire natural gas market by adding a natural gas trading segment; making it the world 's largest energy trading company. At its peak

The focus of this study is to point out the role that the ethics and corporate social responsibility play in the sustainability of a business in today’s world. The study will seek to an extent point out the importance of good business practices in respect to ethics and social responsibility.

Business ethics is a multifaceted field that cannot be defined with a single definition. This area addresses numerous issues, problems, and dilemmas within the management of businesses. It does this through numerous perspectives and methods. Of course, in order to present the complexities of business ethics, we must explore the types of issues that business professionals are confronted with all the time. Business ethics not only portray to humans, but also to how businesses treat the environment.

Ethics are very important factors in everyday life. They can be thought of as blueprints of life that give the directions on how you should relate with others. The success of any company or business is dependent on a variety of factors which include, its product line, the quality of its employees, the proficiency which it accomplishes its business goals and many others but it is the overall ethical workforce that determines its success. Ethics are the foundation for the success of any organization. Analysis of ethics in terms of business aims to first discuss the nature of the ethics themselves and find out how they relate to business. describes ethics as the principles of conduct governing an individual or a group. In terms of a workplace ethics can refer to standards that are used to decide conduct which also involve the question of morality. Good ethics are therefore the building blocks of a successful company.

All over the world business reputations are hitting a downward spiral, which is a serious concern for business leader because they hire the workers to produce the best possible outcome for their business. Business leaders are concerned about their unethical workplace being the explanation why their business is down the tube. Dr. Barry Morgan from the Archbishop of Wales support calls for an ethical business law. In proportion to the ethical business calling on the BBC, “Dr. Morgan believes an oath for those with the Master of Business Administration (MBA), which lays out a code of principles like the Hippocratic Oath does for doctors, would help with responsible leadership in business” (BBC: News Wales, 2011). It is probably the case that all businesses should sign the oath, this gives consumers to show that they are dedicated to being an ethical business. There are numerous of long run businesses that known to be unethical and they can steer the new business in the unethical direction. By adapting to business ethic terms and look for examples in the business fields that have an ethical or unethical reputation, this will give the opportunity for the business leaders to steer their employees into a healthy environment for their business to go the right direction.

A business is not one that lives in isolation; it can be an integral part in a community’s success or demise and has social responsibilities to; the community, stakeholders, and anyone who may be affected by a company’s actions. Corporate social responsibility is a term that is never used lightly and is a key role in the development of a successful and morally healthy business. “The objectives of a corporation are to outperform its competitors, presumably through preferred competitive strategies” (Joseph Heath 123). There are three main models by; Freeman, Friedman and Heath discussing corporate social responsibilities and all have distinct differences between their moral obligations, and the way they perceive business should be ran in a

We’re in a new time, a transitional time unlike any we have seen in recent history. As a result of this ethics has had to evolve. In this evolutionary era ethics must be shaped by the people who will are most involved in its making, more particularly me. I guess this leads us to the question what is the ethics that we will carry forth in order to shape this new world view inside of business. To answer this important question I must spilt the concepts into two different categories. The culture of the company, and the things that the company must work to avoid.

     The modern theory of the firm, which is central to finance and corporate law, views the corporation as a of contracts among the various corporate constituencies. Upon this foundation, finance theory and corporate law postulate shareholder wealth as the objective of the firm. Research in business ethics has largely ignored this contracts theory of the firm except to reject the financial-legal model as normatively inadequate. Philosophers generally bring philosophical theories of ethics to bear on problems of business, and they regard the contractual theory of the firm primarily as a subject for criticism using the resources of philosophical

This periodical looks at business ethics from the viewpoint of economics. First the periodical clarifies who is responsible for social responsibility. Then the periodical details political questions regarding business ethics in principle level and consequence level. Like Drucker, Friedman is against the very idea of business ethics. He attacks corporate executives who use business ethics as “cloak” to hide their unfounded and unjustified actions. Finally, the paper reaches the conclusion by stating that the social responsibility of business is “to use it resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud " (Friedman, 1970).

For some reason, some managers and entrepreneurs seem to think that taking the ethical route in the business world is a bad way to go because a person cannot be successful in such a “cut throat” profession. Whoever came up with the idea that this is true is lying to themselves. There are many successful companies in the world that are taking the ethical way but there are still many businesses that do not do this. Ethical behavior in the marketplace is hugely important because if a company gives off the right and meaningful message, people will put their focus towards that company and their products, because they will see that the company is there for the right moral reasons.