Ethics Paper
For an organization to remain in business they must achieve profits and find ways to keep their customers pleased. Organizations will use ethics and social responsibility as ways to keep customers happy. Every decision made, both good and bad, directly affect shareholders and their investment. Being morally right or wrong is being ethical. Many people will not want to by meat from their local grocery store if they know the animals were not treated ethically. Almost all decisions made will have either an impact on the society at large or the environment. For an organization to be socially responsible occurs when the organization is acts for the benefit of the society. This would be an organization recycling or properly disposing …show more content…
They are economic, legal, ethical, and discretionary responsibilities, (Wheelen & Hunger, 2010). Producing services and goods that is of value to customers is economics. If the organization is making money, then it will go under. Managers must ensure they follow all laws and regulations that the government has set. Failure to do these will drastically hurt the organization. Doing what is morally right is providing ethical responsibilities.
According to Wheelen & Hunger (2010), “A survey by the Ethics Resource Center of 1,324 employees of 747 U.S. companies found that 48% of employees surveyed said that they had engaged in one or more unethical and/or illegal actions during the past year.” Even if there are not laws, managers are responsible for keeping its workers and consumers beliefs in mind. Discretionary responsibilities is an act to benefit a single individual or group. As a manger this could leading and mentoring employees. If managers follow these four responsibilities, they could help prevent an unsound strategic plan.
Ethics, which a system of moral principles or values is something that people and companies follow in order to stay true to that they think is right or …show more content…
According to Justin (2002), “Enron lied about its profits and stands accused of a range of shady dealings, including concealing debts so they didn 't show up in the company 's accounts.” They unethically lied about their profits. By lying about the profits, they got shareholders and potential shareholders to invest even more money. Enron failed at being socially responsible because it caused people to fear at investing their money elsewhere. It cost their own investors to lose a lot of money that hurt a lot of families.
If investors or even the government would have done a more thorough investigation on Enron’s financial reports, this could have been prevented. The United States Securities and Exchange Commission (SEC) has put in stricter laws to help prevent this kind of fraud. These laws now require organizations to share financial records with anyone. Many organizations financial records can now be found online. Organizations are now by law forced to share they financial records with anyone that wants to see them, most organizations just post them
For an organization to remain in business they must achieve profits and find ways to keep their customers pleased. Organizations will use ethics and social responsibility as ways to keep customers happy. Every decision made, both good and bad, directly affect shareholders and their investment. Being morally right or wrong is being ethical. Many people will not want to by meat from their local grocery store if they know the animals were not treated ethically. Almost all decisions made will have either an impact on the society at large or the environment. For an organization to be socially responsible occurs when the organization is acts for the benefit of the society. This would be an organization recycling or properly disposing …show more content…
They are economic, legal, ethical, and discretionary responsibilities, (Wheelen & Hunger, 2010). Producing services and goods that is of value to customers is economics. If the organization is making money, then it will go under. Managers must ensure they follow all laws and regulations that the government has set. Failure to do these will drastically hurt the organization. Doing what is morally right is providing ethical responsibilities.
According to Wheelen & Hunger (2010), “A survey by the Ethics Resource Center of 1,324 employees of 747 U.S. companies found that 48% of employees surveyed said that they had engaged in one or more unethical and/or illegal actions during the past year.” Even if there are not laws, managers are responsible for keeping its workers and consumers beliefs in mind. Discretionary responsibilities is an act to benefit a single individual or group. As a manger this could leading and mentoring employees. If managers follow these four responsibilities, they could help prevent an unsound strategic plan.
Ethics, which a system of moral principles or values is something that people and companies follow in order to stay true to that they think is right or …show more content…
According to Justin (2002), “Enron lied about its profits and stands accused of a range of shady dealings, including concealing debts so they didn 't show up in the company 's accounts.” They unethically lied about their profits. By lying about the profits, they got shareholders and potential shareholders to invest even more money. Enron failed at being socially responsible because it caused people to fear at investing their money elsewhere. It cost their own investors to lose a lot of money that hurt a lot of families.
If investors or even the government would have done a more thorough investigation on Enron’s financial reports, this could have been prevented. The United States Securities and Exchange Commission (SEC) has put in stricter laws to help prevent this kind of fraud. These laws now require organizations to share financial records with anyone. Many organizations financial records can now be found online. Organizations are now by law forced to share they financial records with anyone that wants to see them, most organizations just post them