Ethics and Social Responsibility free essay sample

Others argue that social responsibility is shown only when companies go beyond what is optional, and really intend to create a benefit for others besides the company. Some companies may not benefit from some forms of social responsibility. These businesses should focus on what they do best as a business and give back what they can. Examples of socially responsible behavior range from rojects that raise money for research on diseases, raising money for the needy, requiring workers to volunteer within the community, recalling products that may be dangerous, promoting recycling, and offering free services to the disadvantaged. The role of ethics an social responsibility in business You may have stumbled upon this section by accident and dont feel you have done anything in the workplace that is less than completely honest and ethical at all times. Youve always played by the rules of your industry. However, many now-disgraced CEOs believed they also were playing by the rules of the game. Decisions made should not be unethical so that the reputation of the corporation is not jeopardized. Even though part of social responsibility is to increase profits by doing so organization have to stay within the rules of game which means to engage in open and free competition without deceptions or fraud (Wheelan amp; Hunger, 2010). Ethical behavior and social responsibility are similar but different they both demonstrate a standard of moral behavior, behavior that is accepted by society as right or wrong is considered ethics. Social responsibility is about improving the quality of relations with key stakeholders. In business an ethical code is very important to have, these codes set the standards of your company. Social responsibility is a continuance of ethics it involves more than just the principles of ethics it also includes integrity, fairness, and respect which affect stakeholders. Companies have a responsibility to their stakeholders to make decisions appropriately as possible. A stakeholder is a person, group or organization that has interest or concern in an organization (Ethics, 2013). Stakeholders can affect or be affected by the organizations actions, objectives and policies. Decisions should be made as ethically as possible to avoid jeopardizing the corporations’ reputation. As a courtesy to the community stakeholders should be informed of layoffs or any other act that may directly affect those involved overall. The effects of a dramatic change can take a toll on the communities that rely on the business for their needs. Keeping stakeholders abreast of change will give individuals a chance to adjust to upcoming events gradually, which in turn will avoid anger and hostility towards the corporations. The Enron scandal still tops the list of unethical behavior in any organization. This scandal demonstrated immoral practices from the pressure of potential bankruptcy and greed for more profit. This scandal shows that companies who do not follow a code of ethics and break laws should be punished. Because the company did not follow any code of ethics the government took legal action and placed several individuals from upper management in jail. This scandal could have been avoided by not having the same internal and external auditors, by having a tougher code of ethics, and by making the public more aware of the financial information pertaining to the company and their executives. References Ethics. (2013, January). Retrieved from http://www. businessdictionary. com/definition/ethics. html Wheelan, T. L. , amp; Hunger, J. D. (2010). Concepts in Strategic Management and Business Policy: Achieving Sustainability (12th ed. ). Upper Saddle River,, NJ: Prentice Hall.