- social responsibility is to maximize profits (create financial return) by operating the business in the best interests of the stock holders - expending the firms resources on doing social good unjustifiably increase cost that lower profits to the owners and raises prices to consumers. Coupling solid management skills with these leadership traits helps companies to maintain a climate of social responsibility and ethics by enacting a tacit organization-wide code of fairness and. Social responsibility goes beyond making profits to include protecting and improving society's welfare 3 who was the most outspoken advocate of the classical view of management's responsibility. Journal of applied management and entrepreneurship: ethics and social responsibility in supplier-customer relationships daniels fund ethics initiative: caterpillar, inc becomes an ethical role.
Social responsibility social responsibility and business ethics are often regarding as the same concepts however, the social responsibility movement is but one aspect of the overall discipline of business ethics. ethics and social responsibility mitchell askew business management paper 1 2/4/2014 what is ethics and social responsibility and why is it important in the work place mgmt (2013-2014) workplace deviance, ethics : ethics is the set of moral principles or values that defines right and wrong for a person or group.
Management's only social responsibility is to maximize profits (create a financial return) by operating the business in the best interests of the stockholders (owners of the corporation. Transcript of managerial ethics & corporate social responsibility ethics and social responsibility what is ethics the code of moral principles and values that governs the behaviors of a person or group with respect to what is right or wrong. Managers today are usually quite sensitive to issues of social responsibility and ethical behaviour because of pressures from the public, interest groups, legal and governmental concerns, and media coverage. Explain the classical and socioeconomic views of social responsibility list the arguments for and against business's being socially responsible differentiate among social obligation, social responsiveness, and social responsibility explain the relationship between corporate social responsibility and economic performance describe values-based. Ethical decision-making and leadership are the basis of ethical organizations, corporate social responsibility, 'fairtrade', sustainability, the 'triple bottom line', and other similar concepts.
Rality, and social responsibility, managers and employees can be better prepared to gain a sustainable competitive advan- tage while avoiding unethical and illegal activities. To summarise, social responsibility is explained in management literature as the obligation and commitment of managers to take necessary steps to guard and improve society's welfare along with protecting their own interest. Halliburton summary of code of business conduct this online booklet for halliburton employees provides detailed focus on avoiding conflicts of interest, fraud and bribery, maintaining confidentiality on proprietary information and other ethical issues.
Ethics speak to individual, occupational, organizational, or societal morals and values, while social responsibility is the practical application of ethical concerns for the benefit of society as. Business ethics and social responsibility are commonly used in everyday parlance almost interchangeably while social responsibility is self-explanatory, ethics is a word that puts one in a dilemma. Social responsibility is more of a policy or an obligation to the community, while business ethics is more of a conscience 3 business is focused on profits but with social responsibility.
Chapter 4 managerial ethics and corporate social responsibility the situation at timberland illustrates how difficult ethical issues can be and symbol-izes the growing importance of discussing ethics and social responsibility. Managerial ethics • the term ethics refers to rules and principles that define right and wrong conduct3 four views of ethics 1utilitarian view of ethics 2 rights view of ethics 3 theory of justice view of ethics 4 integrative social contracts theory. Ethics and social responsibility 859 words | 3 pages ethics and social responsibility 1 introduction the contemporaneous business environment is more dynamic and more competitive than ever, reflecting a wide array of changes and challenges emerged from within the micro and the macro environments. Social responsibility and managerial ethics (principles of management) - free download as powerpoint presentation (ppt), pdf file (pdf), text file (txt) or view presentation slides online.