Ethics relates to the moral principles of values. Organizations often decide between profit and moral. Some organizations acquire both, yet ethical issues arise every time. Fairness, justice, rightness or wrongness is some issues of concern. Ethical standards are a way to resolve these issues.
Primarily, the task of management is to do business according to the ethical standards. Organizations need to incorporate set standards and be one of the same as an individual. Additionally, organizations have certain social responsibilities that need to be met. Responsibilities include the way they treat customers, employees and society. On the other hand, every organization's main goal is to make a profit and they should keep their original purpose of functioning. Balancing the load of social responsibility and the traditional standards of profitability is not an easy task. Setting standards of corporate ethics has been a trend to a high degree of morale. This paper will apply six ethical decision-making steps towards the social responsibilities of organizations.
Accounting Professional & Ethical Standards Board
English: Sign outside Cadbury World, Bournville, B...
English: The picture shows the typical stakeholder...The six ethical decision-making steps are as follows: Issue clarification, Stakeholder analysis, Values identification, Issue resolution, Addressing objections, and Resolution implementation.
Issue ClarificationFor businesses to be successful, goods or services need to be provided. They must be desired by the public in order for business to occur. Businesses need to acquire a profit so they can keep delivering on their goods or services. While these can be important components to successful business, many more components play a role to achieve success. The social responsibilities of a business are also vital to the success of an organization. The main social responsibilities are to protect the environment, maintain the safety of employees, and to make sure the products are safe and not hazardous for the consumers. When making decisions, these three social responsibilities should be kept in mind. Environmental...