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Ethics: Social Responsibility and Ethics

Social responsibility is an ethical theory where individuals have a civic duty to benefit society. There must be a balance between economic growth, people's welfare, and the environment. Unethical actions that harm society or the environment are considered socially irresponsible. Managers must make decisions that maximize profits while protecting community and societal interests. Ethics create a distinction between right and wrong actions. Companies should incorporate ethics into daily decisions, particularly those affecting people and the environment. Being socially responsible and ethical can boost employee morale, customer loyalty, and a company's image and brand.

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9 views

Ethics: Social Responsibility and Ethics

Social responsibility is an ethical theory where individuals have a civic duty to benefit society. There must be a balance between economic growth, people's welfare, and the environment. Unethical actions that harm society or the environment are considered socially irresponsible. Managers must make decisions that maximize profits while protecting community and societal interests. Ethics create a distinction between right and wrong actions. Companies should incorporate ethics into daily decisions, particularly those affecting people and the environment. Being socially responsible and ethical can boost employee morale, customer loyalty, and a company's image and brand.

Uploaded by

Rechienvhel Occiano
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Social Responsibility and Ethics.

Social responsibility is an ethical theory in which individuals are accountable for fulfilling their
civic duty, and the actions of an individual must benefit the whole of society. In this way, there must be a
balance between economic growth, the welfare of people, and the environment.If a company or person
considers taking actions that could harm the environment or society, those actions are considered
socially irresponsible. According to this concept, managers must make decisions that maximize profits
and protect the interests of the community and society as a whole.

The theory of social responsibility is built on a system of ethics, in which decisions and actions
must be ethically validated before proceeding. If the action or decision causes harm to society or the
environment, then it would be considered to be socially irresponsible.

Moral values that are inherent in society create a distinction between right and wrong. In this
way, social fairness is believed (by most) to be in the “right”, but more frequently than not this “fairness”
is absent. Every individual has a responsibility to act in manner that is beneficial to society and not solely
to the individual

Ethics refers to a set of moral principles that govern a company's or person's behavior.
Companies should incorporate ethics into their daily actions, particularly those decisions that affect
other people or the environment. A code of social responsibility and ethical conduct should be applied
within an organization and during interactions with others outside the company. As long as a company
upholds strong ethical standards and maintains social responsibility, the environment and employees are
held as equals to the focus on profitability. However, government interference is often necessary if the
company ignores its ethical standards and takes socially irresponsible actions, such as disregarding
environmental regulations to increase profitability.

Why is social responsibility and ethics important in management?

- Social responsibility empowers employees to leverage the corporate resources at their disposal
to do good.
- Being a socially responsible company can bolster a company's image and build its brand.
- Social responsibility programs can boost employee morale in the workplace and lead to greater
productivity, which has an impact on how profitable the company can be.
- Businesses that implement social responsibility initiatives can increase customer retention and
loyalty.
- Socially responsible companies have the opportunity to stand out from the competition because
they cultivate superior and positive brand recognition.

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