MGT 498 Week 2 - Individual Paper - Ethics Paper
MGT 498 Week 2 - Individual Paper - Ethics Paper MKT421
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Date Created: 11/13/15
RUNNING HEAD ETHICS PAPER MGT 498 Strategic Management Week 2 University of Phoenix Name Teacher Date RUNNING HEAD ETHICS PAPER Ethics Paper Ethics and social responsibilities are important roles in developing a strategic plan while considering stakeholder need and agendas Ethics are misunderstood to be only involved with moral judgment and in religion however ethics is even involved in business Business ethics are very important in the business world because laws do not encompass all problems that can arise in business legality and honesty thus business ethics are overlapping and other parameters that help fully encircle all problems that may arise in the business world Businesses are supposed required to be socially responsible and ethical in valuing and caring for the environment being fair with customers both internal and external and being promoters of the society Ethical and social responsibilities Ethics and social responsibilities are a universal set and a subset respectively Ethics as a whole is defined as a system of moral principles and the rules of conduct recognized in respect to a particular class of human actions or a particular group culture etc RUNNING HEAD ETHICS PAPER Dictionarycom 2011 In corporate ethics many things are addressed such a competition releasing financial statements and other moralethical problems that may come about in a business atmosphere Social responsibility is a theory associated with business ethics concerning that a business is responsible or obligated to benefit the world at a macroscale Social responsibility is a must for all businesses to practice as it balances the economy and ecosphere The CSR of a company Corporate Social Responsibility revolves around making business economically satisfactory along with maintaining the EPA United States Environmental Protection Agency guidelines For example common CSR activities include maintaining hazardous emissions and pollutants in as low measures as possible creating green products and using green practices using green energy sources etc Strategic planning components Business ethics and social responsibility are important components of strategic management plans Strategic management plans are plans used to maximize stakeholder wealth and improve the corporation s status Strategic management plans make sure the company takes care of threats takes advantage of opportunities eliminates weaknesses sustains the strengths of the company and deals with competition competitive intelligence An ethical design of the strategic plan is necessary due to social and legal reasons Complying with ethical and moral standards in some cases may be mandatory by the law in other cases it might not be but is still socially normal to do so For example the toxic or hazardous waste generated by a business must be disposed of safely as per the law of 40 CFR Part 260 United States of American Environmental Protection Agency 2011 Recycling paper is considered ethical and every company should recycle however it is not mandated by the United States government In RUNNING HEAD ETHICS PAPER addition a strategic plan design should incorporate social responsibility The strategic plan should benefit the economy and also should increase the quality of life of the employees and their family members Such strategic plans would include building projects that would stimulate the economy and improve the societal life ie parks museums etc Ethical and social responsibility failure Sustainability also known as Green Business is business where a company strives to meet ecological and environmental policies and safety and still have a rise in profits that is meeting the Triple Bottom Line This also includes meeting ethical and social responsibility to the max Amazoncom is one company unfortunately that oversteps the ethical boundaries too far Amazoncom is often pointed out for its nonenvironmental friendly paper used for packing Amazoncom was rated F the worst of all the several companies rated for paper sustainability such as XpedX Unisource United Stationers FedEx OfficeMax Office Depot etc Quraishi 2010 Amazoncom has been socially convicted of being a company that purchases and sells paper from endangered forests in South America and Southern US which fails to meet the ecological protection demands of sustainability Amazoncom and its subsidiaries attempts to hide this by placing a SFI greenwash logo on its products to emphasize its support of environmental concern and safety but it is completely ironic compared to its behindthescenes actions ForestEthics amp Dogwood Alliance 2010 Conclusion The ethical and social responsibility of a company is musts to comply The ethical responsibility of a company is to follow all ethical standards such as handing out compensations recycling disposing waste correctly etc Social responsibilities include philanthropy helping the RUNNING HEAD ETHICS PAPER environment and economy of the local society and improving the lives of the employees and their families Each and every company must follow this etiquette to reap the greatest profits References United States of America Environmental Protection Agency 2011 November 24 Hazardous waste regulations Retrieved from httpWWWepagovoswlawsregsregshazhtm Retrieved Month Day Year ForestEthics amp Dogwood Alliance 2010 Green grades 2010 Retrieved from US Department of Forest Ethics website httppressroomdagreenmediatoolshedorgsitesdefaultfilesgreengrades2010 finalpdf Retrieved November 28th 2011 Dictionarycom 2011 November 24 ethics Retrieved from httpdictionarvreferencecombrowseethics Retrieved November 28th 2011
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