Explain Managerial Ethics In Business

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Q.1- Explain briefly social responsibility. Is the conception that businesses should balance profit-making activities with activities that benefit society; it involves developing businesses with a positive relationship to the society in which they operate. Q.2- Explain Managerial Ethics. Ethics are the moral codes that govern behavior of a person or group of people regarding what is right and wrong. ... Ethics point the way to a particular course of action defining acceptable behaviors and choices. Managerial ethics are a set of standards that dictate the conduct of a manager operating within a workplace. Q.3- Write a detailed report on how we can make the society better by being socially responsible and giving importance to ethical values. The role of the business sector in the development of society can be described in many ways. For acompany to progress and develop, it must nurture relations with its stakeholders, of which there may be many. Some have a strong influence and are of fundamental importance to the survival of the company: these include employees, customers and suppliers. The media, authorities, trade unions and local residents are other stakeholders with a wide-ranging influence. The organization should have a positive effect on society. • The legal responsibility, unlike the social one, requires adherence to specific laws and regulations, which prescribe the activities that the organization may or may not perform. The social responsibility, on the other
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