Examine the importance of ethics and social responsibility in an organisation
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Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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Ethics are moral principles that govern an organization. The term ethics points out how organizations manage themselves with respect to universal moral behaviors and actions. It's about choosing the right action. Ethics are vital to all disciplines of a business such as accounting, human resource management, sales, and marketing, etc. On the other hand, Social responsibility is the role that an organization might take up to the benefit of both society and individuals. Ethics and social responsibility play a major role in business including attracting customers, retaining investors, and improving a company’s reputation. A business without ethical principles is bound to fail soon or later. This study investigates the importance of ethics and social responsibility in an organization, examining the similarities and differences between ethics from a personal and organizational perspective. The study further analyzes the pros and cons of social responsibility to an organization.
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CHICAGO
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ethics and CSR Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Get insight into the concept of ethics and social responsibility in an organization and society.
- Examine the importance of ethics and social responsibility in an organization.
- Learn how to apply the principles of ethics and social responsibility in businesses.
1.0 INTRODUCTION
Ethics is defined to mean a classification of moral principles. Ethics are a code of conduct that govern an organization’s public relations and operational policies. Ethics are vital in the world of businesses because it prescribes the conduct to be followed while doing daily activities. Social Responsibility on the other hand refers to how organisations decide to conduct themselves in society. This essay is going to discuss the importance of ethics and social responsibility to an organization.
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