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The Role Of Ethics And Social Responsibility

890 words - 4 pages

Ethics Paper PAGE \* Arabic 2
Running Head-THE ROLE OF ETHICS AND SOCIAL RESPONSIBILITYThe importance of ethics in developing a strategic planJaime EnriquezMGT 498January 24, 2011Eligah KingThe importance of ethics in developing a strategic planBusiness ethics are becomingly more effective in the modern world of business, yet ethics and social responsibility are concerns misunderstood today. Organization's when confronted with issues that become more significant as the organization grows have more of an impact on the lives of other people in ways management can only imagine. Ethics can be a personal topic, containing an important role in the success of the business and the social responsibility will surely maintain integrity and honesty for the organizations future. In regard to the role of ethics a social responsibility in developing a strategic plan, there will be discussion and consideration with the part of stakeholder's needs and agendas.Ethics and Social ResponsibilityEthics is an important subject, people may refer to as the, 'golden rule' and in business ethics can guidelines imposed by law. Ethics can be best understood as, "the rules of conduct recognized in respect to a particular class of human actions or a particular group, culture, etc" (Dictionary.com, 2011). In regard to business ethics, "ethics that refer to the moral rules and regulations governing the business world" (LoveToKnow, 2010) as a whole cannot tackle every circumstances in which ethical dilemmas may arise.The importances of decision making not only helps it function properly but also can define the reputation of the organization. Decision making should not be unethical to meet such requirements, "ethical responsibilities of an organization's management are to follow the generally held beliefs about behavior in society" (Wheelen & Hunger, p. 58).When an organization's values and ethics support its strategy, it is courtesy to stakeholders and the community to inform of any changes in the organization this enhances the company's success and stability. Customers, suppliers, employees, and shareholders each have their own interest in the performance and success of the organization because each can benefit or be harmed by the decision making management makes. This act of sharing with the community and stakeholders better puts the reputation of the organization in good standing with future consumers and investors. This is social responsibility where an organization informs the community, were making profit is not as important as how the effects of a disastrous change of events can have on the communities that rely on the business for their services and products, "affected people can get very upset if an organization's management fails to act according to generally prevailing ethical values (Wheelen & Hunger, p. 58).Monsanto unethical boundariesAccused of suing small farmers frequently and unfairly for patent infringement, Monsanto Co. has been named the most...

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