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Ethical Reflection Paper

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Ethics reflection paper
Introduction
Ethics is the fundamental principles of an individual or a group. Business ethics refers to the study of business policies and practices. Social responsibility refers to how a business performs its activities to meet its wider obligations toward the society and environment. Strategic planning in the corporate world is considered to be a very important step. Social responsibility as well as ethical values in the strategic plan process are deemed to serve as an important role. The paper will explore the role of social responsibility and ethics in the business world.
The role of ethics
According to www.investopedia business ethics refers to the study of proper business policies and practices. There are several important issues to be aware of, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility and fiduciary responsibilities. (4) Business ethical principles are no difference than general ethical principles that is judged with the same right and wrong standards that are judged in society. Ethical factors have a great impact in the way businesses are ran today. The role of ethics may differ depending on which point of view is used. Ehow.com states that the ethics role and purpose is to control the human ego. Simply put, ethics is a system of thought that has as its end the process of organizing the aspects of personality such as drives, attitudes and aims into a balanced whole within the community. It is a balancing act between the "I" and the "you." (3) The role of social responsibility
Social responsibility describes how a business performs its activities to meet its wider obligations toward the society and environment. Demonstrating social responsibility entails undertaking actions that earn trust and respect from all stakeholders, operating in an honorable and ethical

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