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Topic area: Social responsibility and managerial ethics. Should companies devote expensive time and resources to managing their social responsibility Why

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The application of ethics is used often when some unethical decisions are observed. A mentioned earlier, ehics are an individual belief system that consists of judging both right and wrong which varies from person to person. I is a part of contemporary managerial ideology which is considered in order to evaluate various decisions, bliefs and actions among others. I context to business operations, aparticular organization expects to exercise greater ethical values and perform various responsibilities towards the society (Griifin, 1993). Pople in the organizations may hold dissimilar views regarding ethically suitable or unsuitable actions related to a situation which in turn gives rise to ethical conflicts and thus in turn tends to signify the essentiality of managerial ethics and corporate social responsibility (Draft & Marcic, 2010).

Scial responsibility can be regarded or treated as one of the ethical actions considered by an organization or a company. Hwever, aparticular business cannot continue with good performances to a certain extent if it lacks in efficient financial and/or operational strengths. Fr instance, i the business is making too much loss in i eventually intends to retrench the production cost that in turn affects the service/product quality hampering customers’ perceived values and leaving the employees jobless.

Tis particular evidence might prove disregarding in relation to social responsibility towards the employees within an organization (Griifin, 1993)Thus, i order to promote a well equipped development within an organization, i is necessary to accept the importance or necessity of social responsibility. Te importance of social responsibility is duly considered high because of its assertion towards business in order to enhance economic value, mintain coordination employees’ work life and personal life, lcal communities as well as to develop the employees’ minimum living standard and value of life.

Tus, bth social and environmental concerns are important parts of organizational social responsibility (Cramer & Bergmans, 2003). Te companies or the organizations should devote their valuable and expensive time and resources in order to supervise their social responsibility because the importance of social responsibility lies in their financial growth along with the economic development of the society, cmmunity and the environment among...

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preview essay on Topic area: Social responsibility and managerial ethics. Should companies devote expensive time and resources to managing their social responsibility Why
  • Pages: 6 (1500 words)
  • Document Type: Essay
  • Subject: Business
  • Level: Ph.D.
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