Introduction:- Corporate social responsibility means seriously considering the impact of a company’s actions on the society. – Bauer The obligation of decision makers to take actions which protect and improve the welfare of the society as a whole along with their interests. – Davis and Bomstrom Corporate Social Responsibility is a concept that integrates a company 's social concerns with their business operations. It aims to create trust between various stakeholders and eventually attain of sustainable development. Community service and ethical way of functioning only helps to gain more business and increase the adherence of the code of conduct.
Business ethics is the study and examination of moral and social responsibility in relation to business practices and decision- making in the business. Business ethics have developed into standard of moral and ethical responsibility around the world. The demand for moral and ethical behavior in all aspects of domestics and partnerships has encourages and the development and evolution of business ethics. Business ethics are moral principles that guide way a business behaves. The same of principles that determine an individual action also apply to business.
A reward for ethical behavior The ethical behavior must be recognized and appreciated and at the time it must be awarded. So it can promote ethics in other employees. Conclusion Ethics in business and in corporate culture has become a critical issue for many companies. There is need to pay more attention to an analysis of unethical behavior in leadership and its relation to corporate culture. Ethical leadership is a growing concept and many large companies are promoting business ethics as their corporate social responsibility.
Introduction Corporate social responsibility (CSR) is a concept that is applied to businesses that consider the interests of society by taking responsibility for the impact of their decisions and activities on stakeholders that is, customers, employees, communities and the environment. Definitely, there is general agreement that firms must adopt a wider perspective when setting up their objectives which should not necessary be maximizing profits and expansion. With a view to build a certain goodwill, some businesses want to show a good image to society and this can be done in many ways. Benefits and drawbacks. The concept can also be concerned with reasonable wages and job security for employees.
When a company behaves ethically with employees it has more advantages in the market. Likewise employees want to stay working in a business, attract more people wanting to work, increase productivity, attract investor, and reduce recruitment cost. The act in ethical manner is something that is decided for managers who want to lead it to the best of the top and grow maintaining the prestige. “The leader or manager of an organization is the one who is responsible to create an ethical culture in the environment. The values that applied into it will encourage a worker to behave in the same exactly way.”(Snoeyenbos, Almeder, &Humber 2001 p146) First, set a good example.
Personal Viewpoint of Author’s Conclusion In my opinion, Freeman offers a valid and practical theory in response to the privileged position of shareholders. The theory is based on values and moral grounds, thus making it a better alternative than managerial capitalism. Managerial capitalism and shareholder wealth maximization have repeatedly led to ethically opprobrious business management. Thus, the all-inclusive theory of stakeholders provides an opportunity to remedy the ethical failures of organizations. Although, theoretically it makes sense to include the input of a wide range of groups when determining the future of an organization, it might not be that simple in reality.
STRATEGY AND PERFORMANCE: The strategy adopted by the organization towards ethical considerations and the choices they make affect how ethical their considerations are. Also, the performance strategy of the organization affects the behaviour in the market. If the orientation is solely towards success and profit, then nothing would be more important than the attainment of such target, leading to least consideration being given to the concept of ethics. It means adhering to the societies basic rules that define right and wrong behavior. Ethical business performance can be improved by positive top management attitude , by motivating employees to be aware of ethical or legal issues, by introducing organizational changes that help employees at all levels, by refraining employees from unethical act, by building ethical safeguards into the company that is formation of code of ethics, ethics committee , ethical training programs , ethical audits
Question 1: Business ethics mean acting in right way which involves distinguish between right and wrong. Applying ethical way is applying in any organization is very important that will reflect an individual 's moral judgment about right and wrong. However, any decision taken within an organization may be made by individuals or groups, so who makes this decision will influence by his/her culture the company. These will bring so many benefits to a business, for example that will attract customers to the products, Secondly, make employees want to stay with the business, reduce labour turnover and therefore increase productivity. Attract more employees who want to work for the business, will attract many investors and keep the company share its price high that will help or protect the business from takeover.
Recent marketing paradigms, such as the societal marketing concept, state that the survival and the continuing profitability of a firm depend upon its ability to fulfill economic, environmental and social purpose. In setting their strategy and marketing policy companies should balance company profits, consumer want satisfaction and public interest (Vagasi Maria, 2014). They should achieve their objectives in cooperation with
Viable these mentioned factors, employees should create/produce such products which will capture and retain the perception of GORC in customers mind. This perception will give a boost to overall sales and profit calculation which will portray a final Image of building a concrete customer brand loyalty relationship, which may in future increase the sales and profits to an exponential level. Thus the responsibilities practiced are key elements of creating and retaining customer strength. Company gives more benefits or packages to the employees because the company wants to stay employees and their employees can’t go to the other company. They give bonuses, low burden of work and high salary.