Corporate EthicsSamples for Students †MyAssignmenthelp.com

Question: Discuss about the Corporate Responsibility And Ethics. Answer: Introduction Corporate social responsibility is described as the self regulation in a corporate sector, which is coupled with a business model. CSR policy in a business is necessary to evaluate and ensuring its consents with ethics, law and national and international norms. CSR was origins in the earlier years of 20th century. It is states the concern about the responsibilities of management towards their employees and customers. This concept was introduced by Abrams in 1951. Each corporation had responsibility and duty towards society with their economics and legal duties. Every organization has the responsibility to follow some ethics .After 1980s there was an increased focus for ethical corporate culture (Crane and Matten, 2016, p.9). Identify the nature and theoretical underpinnings of business ethics A productive organization is considered as a business. Their main objective is creating goods and services for customers, usually at a profit. Business is also take place between organizations. Study of ethical dimensions of business organization and commercial activities is considered as business ethics (Blowfield and Murray, 2014, p.8). Business ethics consist of theassessments of the production, distribution of goods, marketing, sales, and consumption of goods and services activities of a business in an ethical manner. Business ethics considered as a large field. Famous philosophers such as Aristotle, Rawls have their own contribution in this field. Now a days almost five journals engaged in this field and work in this field appears in main philosophy and social science journals. Varieties of business ethics: Many people such as accountants, lawyers are engaged in business activities. These kinds of persons are called as professionals. There exist some codes of conduct for following by the professionals. Many organizations developed and enforced some form of codes of conduct which includes ethics as a part. According to this business ethics can be considered as a study of professional practice which includes the study of the content, development, management etc. Business ethics is also important to estimate the efficacy of the codes of conduct that encourage the people, engaged in business (Kolk and Perego, , 2014, p.1). As an academic discipline business ethics was contributed by social scientists and normative theorists. In this field they try to answer the question related to business and ethics. That include is CSR helpful to improve corporate financial performance? , does an ethic pay? , why people involved in unethical activities? Etc... In a normative enterprise business ethics evolved from different disciplines, the different principles could be seen as political philosophy, law, public policy etc. Following business ethics properly suggests that one has good knowledge of the ethical principles.The unethical behavior in various forms can be identified by this means (Leipziger, 2015, p.45). Normative business ethicists give a brief idea about the economic framework which includes the exclusive production and it also refers that, for resource collection, market plays an important role. Explain the role of corporate governance and ethics in influencing corporate actions and attitudes. Good corporate governance could be said to be stretching beyond the rules stated by the government. It also says about the ethics and values that drives a company in order to run their business smoothly. Corporate governance is an important factor for any company to ensure that it runs appropriately and smoothly. It defines the way how a business run and controlled. Governance says about to form a high authority for a company and the way to perform its role. It includes the way to form a board and structure it, the board settlement and the way to precede it (Elkington and Fisk, 2014, p.76). The value framework is represented in a corporate governance of a company which helps a company with its business decisions that are ethical for the various stakeholders of the company. Corporate governance is implemented so that the rights of the stakeholders are safeguarded and hence the productivity could be increased (El Akremi et al. 2015, p.23). Essentials of good corporate governance: In a good corporate governance ethical and social control are focused upon so that the resources of the company are used in a proper way. The following characteristics are essential for good corporate governance Participatory Accountability Transparent consensus orientation Responsive Effective and Efficient Equitable and Inclusive and Follows the Rule of Law. Business ethics: It is a type of applied ethics. This is important to apply in business in order to maintain the morality or ethical norms in a business. Ethics is a set of principles which is necessary for an individual to maintain the organisational objectives it is related with the duties and obligations which helps one to evaluate his own goodness and also the bad for other individuals. (Set-Pamies, 2016, p.523). Advantages of business ethics: There is a link between business ethics and financial performance in an organisation. Every company should maintain their ethical commitment in order to perform well. Identify the impact of corporate responsibility on organizational sustainability. Economics and management theories states that objective of corporation are profit maximization under the constraints. Share holder is the key agent in these kinds of models. They provide financial resources for the normal execution of organization. Corporate social responsibility (CSR) is considered as one of the important practices for running any business. For companies, maintain the CSR, refers to maintain their overall performances (Carroll and Buchholtz, 2014,p.34). CSR strategy is an important factor for maintaining the companys competiveness. This refers to follow the policies and procedures in an organisation in order to maintain the social, environmental, ethical, human rights or consumer concerns into business operations .(Joutsenvirta and Vaara, 2015, p.8). A company has the overall objective to achieve a positive impact on society in order to maximizing profit value in business market Establishing a CSR program: CSR program drives company to establish CSR agenda in worldwide. If a company adopts CSR oriented activities, they have the responsibility to implement a plan to carry out the agreed CSR program. There are six key components in coherent CSR plan. That are identified by the International Institute for Sustainable Development (i) CSR Assessment; (ii) CSR Strategy; (iii) CSR Commitments; (iv) Implementation Plan and Actions; (v) Verification and Evaluation of Results, and (vi) Refinement. The popular companies also have the tendency to be reliable to the customers in order to maintain their business. The thing which is happening is an adaptation of the process of the malti stakeholders which is external in nature. Benefits of CSR: Smallest organizations get benefited from implementing corporate social responsibility at their business. They implemented this policy by making small changes on a simple environmental policy list (Eriksson and Kovalainen, 2015,p.3). The main objective of any business is its sales and profit. Good business want to increase their reliability and in order to do this they to attract many investor as possible Business can avoid an embarrassing error of judgment; more interest is being shown in business demonstrating corporate social responsibility. Adopting CSR helps the work environment. Critically analyze ethical issues and formulate recommendations for the management of these issues. Ethics is the sense of being able to understand what is right and wrong. It is necessary for the organisations to have the sense of proper justice and fairness which is required to do the business functions and operations in a proper manner. (Hoffman et al. 2014, p.45). The management should know the necessity of respecting people in spite of their individual differences and their societal situations. The organisations should understand the capability and the potential of each individual and the associated members irrespective of their professional differences and varied designations. It is necessary for the corporate world to respect and appreciate the rights of people, be it legal or civil. Discrimination must not be encouraged (Myers, 2013, p.3). Dont abuse your position for gaining a personal advantage: It says about taking advantage of participants for political, social, sexual and financial gain. Dont make an intervention in areas you dont trained: This intervention may lead to a negative impact on the production. Try to do what you can and other may become truly unethical and harmful. Conclusion Implementing CSR policy and ethics is very important to get a good working environment in any organization. An unethical activity affects the person who doing the activity and the organization or public. Ignoring unethical activities also lead to some negative effects. By creating some standards for primary ethical issues will help you to follow the way to community respect and outstanding service delivery. References Blowfield, M. and Murray, A., 2014.Corporate responsibility. Oxford University Press. Carroll, A. and Buchholtz, A., 2014.Business and society: Ethics, sustainability, and stakeholder management. Nelson Education. Crane, A. and Matten, D., 2016.Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press. El Akremi, A., Gond, J.P., Swaen, V., De Roeck, K. and Igalens, J., 2015. How do employees perceive corporate responsibility? Development and validation of a multidimensional corporate stakeholder responsibility scale.Journal of Management, p.0149206315569311. Elkington, J. and Fisk, P., 2014. Crane A., and D. Matten (2010). Business Ethics: Managing Corporate Citizenship and Sustainability in the Age of Globalisation (Oxford, UK: Oxford University Press). An excellent entry-level textbook about the world of business ethics. This cov-ers the foundation of business ethics, applying understandings to each of.The Business Student's Guide to Sustainable Management: Principles and Practice, p.76. Eriksson, P. and Kovalainen, A., 2015.Qualitative Methods in Business Research: A Practical Guide to Social Research. Sage. Hoffman, W.M., Frederick, R.E. and Schwartz, M.S. eds., 2014.Business ethics: Readings and cases in corporate morality. John Wiley Sons. Joutsenvirta, M. and Vaara, E., 2015. Legitimacy struggles and political corporate social responsibility in international settings: A comparative discursive analysis of a contested investment in Latin America.Organization Studies,36(6), pp.741-777. Kolk, A. and Perego, P., 2014. Sustainable bonuses: Sign of corporate responsibility or window dressing?.Journal of Business Ethics,119(1), pp.1-15. Leipziger, D., 2015.The corporate responsibility code book. Greenleaf Publishing. Myers, M.D., 2013.Qualitative research in business and management. Sage. Set-Pamies, D. and Papaoikonomou, E., 2016. A multi-level perspective for the integration of ethics, corporate social responsibility and sustainability (ECSRS) in management education.Journal of Business Ethics,136(3), pp.523-538.