Social responsibility and ethics play major roles in affecting small businesses and, large businesses for that matter. Small Businesses have social responsibility where ever they turn, and if they are not careful they could fall just as fast as they had risen. Small businesses have responsibility first and for most to customers, employees, investors, suppliers, and the local communities. Ethics affect individual behavior every where. Social responsibility and ethics are related slightly. But, Social responsibility refers to the way a business itself tries to balance its commitments to the people in its social environment. Many companies have written codes often called "Code of Ethics" or "Codes of Conduct" in which they go by.
Ethics are beliefs on both individual and social viewpoints, and these affect small business a lot. Some of the ethics purposed on employees are forbidding buyers from accepting gifts from suppliers, also things like safeguards against designers selling out company secrets.
Most of all general honesty, if we are not doing the right thing and cheating our selves out of business then what are we doing to customers? Same goes with employees they are expected to treat the workers fair, make them feel apart of the team and respect their ideas and needs to learn.
In order for managers to have a business investors are next on the list of priorities. Managers should follow proper procedures, provide the right information about performance, and to manage and protect their rights and investments. At this point in the game it's not just the company's money it's also the investors. Suppliers, the people in which you would get your goods from should be managed with care, meaning not taking advantage of them. For instance giving them crazy hours to deliver, and reducing their profits by constantly lower...