...Social Values Introduction Every society generally views certain activities, conduct and behaviour of its members to be undesirable or harmful to others. Similarly, desirable acts and conduct of people are recognized and appreciated in society. Social values refer to the general recognition in society about which acts are good and desirable on the part of people and which acts are not. In relation to business, social values of business may indicate: a. The characteristics of good business; b. Objectives which are desirable for business to follow; and c. The manner in which business activities should be conducted in the interest of society. For example, we consider it bad, if any business indulges itself in selling adulterated goods or charging higher price or polluting the environment. Thus, social values of the business form the base for social responsibilities. Business can also be guided by certain moral principles say, running the business without adopting unfair practices, being honest and truthful about quality of goods, charging fair prices, abiding to laws, paying taxes, duties and fees to the government honestly. The basic question underlying business ethics is whether business should aim at earning profit by any means, obviously not. Thus, businessmen should charge only fair price for the goods and services supplied, never sell adulterated products as pure. Indeed business ethics suggest certain principles to conduct business so as to be morally...
Words: 3937 - Pages: 16
...Systems in Markets and Organizations Alfredo A. Brown MGT 5012- Dr. Bahaudin G. Mujtaba Introduction Markets and organizations are just like any other aspect in business. They have moving parts. Business is like a well-oiled machine with moving parts that create the final product. It is necessary for all the parts to be in good shape and working effectively. Without all six key systems in markets and organizations flowing smoothly and properly a business or business system cannot function properly as a “well-oiled machine”. Results can be quite dramatic based on the effectiveness and functionality of these six key systems; when one of the systems is off it affects the rest of the markets and organizations around it. On the other hand, when all six of these systems are working in sync and effectively, societies can flourish and advance in knowledge on a personal and organizational level. Division of Labor and the Mission System It is amazing sometimes to think why certain people have certain jobs and why those jobs are in the field they are in. Why is it necessary to have a CFO, CEO, manager, cashier, or even a custodian? The answer is simply, the division of labor. Just like the key systems as a whole, the division of labor is much like a machine with moving parts. People become employees, employees divide the labor, the labor results in a product or service, which subsequently results in value or profit. By dividing...
Words: 1542 - Pages: 7
...Developing an Ethical Business Environment: A Report to Executive Management Introduction Ethics and business rules always go together. The fact that business policing is based upon the different measures of complete recognition of social norms and social limitations, ethics is indeed a large part of the ways by which business organizations try to strive to be able to become more effective within their operational engagements with regards their aim of being able to influence the society as well. It is indeed certain that the rules and regulation that a business puts up should be able to meet certain standards of social compromises. Any business organization could not afford to be questioned simply because of the fact that the business procedures that they are adapting to are not meeting the set standards for business organizations. (Kuhn, 2005, 12) To be able to have a clearer view of the matter being reported herein, it is first most importantly to be given attention to as to how management is indeed in relation with the actual application of ethical standards within the society. To be able to do this, there are three major points to consider. The said points are as follows: • The effect of organizational culture on ethical operation • The roles and responsibilities of executive management in fostering an ethical operating environment • The impact of ethical standards as they are used in business operations Through the consideration given to these particular...
Words: 3627 - Pages: 15
...serve the purpose. Of course all of us want businesses to be fair, clean and beneficial to the society. For that to happen, organizations need to abide by ethics or rule of law, engage themselves in fair practices and competition; all of which will benefit the consumer, the society and organization. Primarily it is the individual, the consumer, the employee or the human social unit of the society who benefits from ethics. In addition ethics is important because of the following: Satisfying Basic Human Needs: Being fair, honest and ethical is one the basic human needs. Every employee desires to be such himself and to work for an organization that is fair and ethical in its practices. Creating Credibility: An organization that is believed to be driven by moral values is respected in the society even by those who may have no information about the working and the businesses or an organization. Infosys, for example is perceived as an organization for good corporate governance and social responsibility initiatives. This perception is held far and wide even by those who do not even know what business the organization is into. Uniting People and Leadership: An organization driven by values is revered by its employees also. They are the common thread that brings the employees and the decision makers on a common platform. This goes a long way in aligning behaviors within the organization towards achievement of one common goal or mission. Improving Decision Making: A man’s destiny...
Words: 804 - Pages: 4
...SOZIALFORSCHUNG Volume 11, No. 3, Art. 17 September 2010 The Case of Value Based Communication—Epistemological and Methodological Reflections from a System Theoretical Perspective Victoria von Groddeck Key words: Abstract: The aim of this paper is to reflect the epistemological and methodological aspects of an communication empirical research study which analyzes the phenomenon of increased value communication within theory; form business organizations from a system theoretical perspective in the tradition of Niklas LUHMANN. analysis; Drawing on the theoretical term of observation it shows how a research perspective can be functional developed which opens up the scope for an empirical analysis of communication practices. This analysis; Niklas analysis focuses on the reconstruction of these practices by first understanding how these practices Luhmann; stabilize themselves and second by contrasting different practices to educe an understanding of organization different forms of observation of the relevant phenomenon and of the functions of these forms. studies; George Thus, this approach combines system theoretical epistemology, analytical research strategies, such Spencer-Brown; as form and functional analysis, and qualitative research methods, such as narrative interviews, system theory; participant observation and document analysis. value communication Table of Contents 1. System Theory and Empirical Research:...
Words: 9617 - Pages: 39
...Sewagram Correspondence Address: Suhas B. Diwate C/o B.M. Diwate, Gajanan Nagar. Near Z.P. Colony. Wardha-442001 ( Maharashtra) Contact Details: • E-mail ID- suhas_diwate7@rediffmail.com • Mob: +91 8087293033 • Fax No: NA Title of paper: “ Role of HR for CSR” ABSTRACT: Concept of CSR A Business Unit is in society, within which it operates. This speaks of a number of stakeholders to which the organization has a responsibility. The social responsibility of business encompasses the economic, legal, ethical and discretionary expectations of that society have of organizations at a given point in time. The Concept of CSR originated in the 1950s in USA. CSR became a matter of utmost importance of diverse groups demanding change in business. It is a voluntary assumption of responsibilities that go beyond the economic and legal responsibilities of corporations. Corporate Social Responsibility (CSR) covers all aspects of an organization’s operation, inter-alia the relations with stakeholders including the employees as one of them. Business cannot exist in isolation. They need the infrastructure that society provides, its sources of employees.CSR is recognition of that interrelationship and inter-dependence and means of delivering on that obligation. * THE STRATEGIC ROLE OF HR HRM is a process of making the efficient and effective use of human resources...
Words: 3412 - Pages: 14
...Human Behaviour in Organizations Submitted to: Prof. Radha Sharma Submitted by: Group 1 Abhinav Srivastava 15P181 Ashutosh Pandey 15P191 Aviral Jain 15P192 Divya Gulati 15P201 Rahul Kasera 15P221 Soumitra Joysula 15P231 Human Behaviour in Organizations Submitted to: Prof. Radha Sharma Submitted by: Group 1 Abhinav Srivastava 15P181 Ashutosh Pandey 15P191 Aviral Jain 15P192 Divya Gulati 15P201 Rahul Kasera 15P221 Soumitra Joysula 15P231 Values & Ethics in Organizations Values & Ethics in Organizations Contents 1. Background 1 2. The Concept of Ethics and Values 1 2.1. Values 1 2.2. Ethics 1 2.3. Role of Leadership in Organizational Ethics and Values formation 1 2.3.1 Moral Spill-over Effect 1 2.4. Organisational Ethics 1 2.4.1 Basic Elements of Organizational Ethics 1 3 Motivation theories for building ethical organisations 1 3.1 Stakeholder Theory 1 3.2 Intrinsic and Extrinsic Motivation 1 3.3 Incentive Theory 1 3.3.1 Reinforcements in Incentive Theory 1 3.4 Operant Conditioning Theory 1 3.4.1 Modifying Operant Behaviour: Reinforcements and Punishments 1 3.4.2 Operant conditioning for changing human behaviour 1 4 Industry Practices 1 5 Values & Ethics: A Cross-Cultural Perspective 1 5.1 Considerations for Evaluating Values of another Culture 1 5.2 Comparison of business cultures between China and USA 1 6 Case Analysis 1 6.1 NAICOM may sanction operators on unethical...
Words: 9695 - Pages: 39
...BUSINESS ETHICS Business ethics is nothing but the application of ethics in business. Business ethics is the application of general ethical ideas to business behavior. Ethical business behavior facilitates and promotes good to society, improves profitability, fosters business relations and employee productivity. The concept of business ethics has come to mean various things to various people, but generally it‘s coming to know what it right or wrong in the workplace and doing what‘s right - this is in regard to effects of products/ services and in relationships with stakeholders. Business ethics is concerned with the behavior of a businessman in doing a business. Unethical practices are creating problems to businessman and business units. The life and growth of a business unit depends upon the ethics practiced by a businessman. Business ethics are developed by the passage of time and custom. A custom differs from one business to another. If a custom is adopted and accepted by businessman and public, that custom will become an ethic. Business ethics is applicable to every type of business. The social responsibility of a business requires the observing of business ethics. A business man should not ignore the business ethics while assuming social responsibility. Business ethics means the behaviour of a businessman while conducting a business, by observing morality in his business activities. According to Wheeler Business Ethics is an art and science for maintaining harmonious...
Words: 4648 - Pages: 19
...that are made are based on a common set of values and principles. As an adult, the adherence to these values has played a fundamental role in my own success as a business leader in my profession. EXPLANATION OF KEY TERM The general definition of ethics is ”the discipline dealing with what is good and bad and with moral duty and obligation” (Satterlee, 2009, p. 48). Every culture in the world will have some form of ethics and the society would have a set of values or moral duties and obligations. In some instances, these values may become law. Many of these moral values are based on a religion; for example, Christianity refers to the Ten Commandments, which forms a set of values. Some ethics are secular in nature. In business, ethics plays a major role on how companies act in relation to their core values. A world viewpoint would look at international business ethics as compared to domestic business ethics. The international business ethics would focus on the culture of that society along with their values and core beliefs. With our growing global economy, it is important to understand the ethical duties and obligations for businesses wishing to conduct business in the respective countries. The global business has a duty and obligation to conform to the values and ethics of that society; this is their social responsibility. One of the main aspects of social responsibility in a global market is to protect the organization from any type of corruption. Considering that...
Words: 1391 - Pages: 6
...The new economy has brought greater transparency and greater flexibility but also greater complexity and therefore new and greater risks. It has become very crucial to look at how the new economy had brought greater complexity to the business environment changing the ethical dimension and raising new ethical issues. It goes on to outline the varied dimension of the new economy like—Globalization, technology, assets, framework, recruiting and retaining the talent. These factors have brought so many changes and challenges to the company policies regards to their management practices, relationships in different domestic, international, multinational and global contents. So to establish an ethical infrastructure and integrate ethics in organization working we need to study the ethics in new economy keeping the consideration of those mentioned dimensions. ETHICAL DIMENSIONS Globalization The growing integration of economies and societies around the world has been one of the most hotly debated topics in international economies over the past few years. Many forces are driving globalization—Communication, improved infrastructure, technology, regulation, free trade and free movement of people. Rapid growth and poverty reduction in India, China and other countries that were poor 20 years ago, has been positive aspect of globalization. On the other hand, globalization has also generated significant international opposition over concerns that it has increased...
Words: 13267 - Pages: 54
...Running Head: Business Ethics Main Title: The Cultural Dimensions of Business Ethic Monroe College Contents Rationale 3 Introduction 3 Some Factors which may Influence Business Ethics 3 How Peoples Action can Affect Business Ethics 4 How Structure Affects Business ethics 4 How Culture, Norms and Laws Affect Business Ethics 5 Unethical Practices and How They May Affect a Business 5 Recommendations 7 Conclusion 8 Sources 10 Rationale The purpose of this paper is to discuss and address cultural aspects of business ethics. It will also examine how these cultural aspects may affect businesses and shape societies view on these organizations. Recommendations will also be made for example, on the aspect of setting companies policy while taking morals and ethical matters into consideration. Introduction Ethics is a huge area of interest, study and debate. According to Dictionary.com, Ethics is a body of moral principles or values governing or distinctive of a particular culture or group. Business ethics can be described as the behavior that a business adheres to in its daily interactions with society .The ethical standards of a business can be examined by looking into the firm’s human rights policy, its regulations of bribery and corruption, and its execution and compliance of its codes of ethics. The ethical standards of business can vary significantly depending on the country it is headquartered in. These standards apply not only...
Words: 2043 - Pages: 9
...with the business world. I will discuss different styles to management ethics, the benefits companies will find from acting ethical and socially responsibly and some examples of unethical behavior in the workplace. I will also look at social responsibly and its benefits, as well as give my opinion on both topics. Businesses have always been known to shoot for maximum profits in order to please both those inside and outside their company. However, the concept of business ethics and social responsibility has put principled boundaries on organizations so that they cannot achieve their profit goals in any way they please. In order for a company to function within today’s global business society, they must be able to take a strong stance ethically on how they are going to sell their products and conduct their everyday work activities. Alongside being ethical, companies must also take on social responsibility; showing their community that they are involved, alert and willing to be philanthropists even in tough times. Corporate ethics and social responsible, if overlooked, can be detrimental to an organizations outward appearance and customer base. It is not only the right thing to do, but it has always been seen as good business. Both business ethics and social responsibly, although different, play fundamental roles in an organization’s successes. Ethics can be defined as the study of standards of behavior in which promote human welfare and “the good”. Business ethics can...
Words: 3437 - Pages: 14
...concept whereby organizations consider the interests of society by taking responsibility for the impact of their activities on customers, employees, shareholders, communities and the environment in all aspects of their operations. This obligation is seen to extend beyond the statutory obligation to comply with legislation and sees organizations voluntarily taking further steps to improve the quality of life for employees and their families as well as for the local community and society at large. The debate about CSR has been said to have begun in the early 20th century, amid growing concerns about large corporations and their power. The ideas of charity and stewardship helped to shape the early thinking about CSR in the US. There is no universally accepted definition of CSR- Selected definitions by CSR organizations include: ★ "Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large" World Business Council for Sustainable Development ★ "CSR is about how companies manage the business processes to produce an overall positive impact on society." ★ "Corporate social responsibility is undertaking the role of "corporate citizenship" and ensuring the business values and behaviour is aligned to balance between improving and developing the wealth of the business, with the intention...
Words: 605 - Pages: 3
...BUSINESS ETHICS 'COLLECTIVE ACTION PROBLEMS' IN PARTICULAR HOW MUCH RESPONSIBILITY DOES AN INDIVIDUAL MANAGER HAVE FOR THE ETHICAL CULTURE OF HIS/HER ORGANISATION? Ram Visvanathan Business Ethics May 28, 2014 Introduction. Ethics is very important for the prosperity of any organization. Every employee or stakeholder of an organization has got an important role to play in nurturing an ethical culture in an organization. This research paper discusses the level of responsibility that an individual manager has in the ethical culture of his or her organization. This is done with close attention to academic journals and research. The paper will derive its arguments from veteran theories like the Utilitarian and the Kantian theories. The paper will also relate its discussions with the case study about Enron a USA company that collapsed as a result of unethical behavior in the management. Some of the components that will be highlighted in the paper include; the importance of an ethical culture in an organization, the dangers of lack of ethics in an organization and the strategies that can be used to promote ethics in an organization. Justification of the research. The study of the role of individual managers in the ethical culture of an organization is a justified venture. This is because of the increased calls for ethical behaviors in organizations. The expectations of the staff and the society at large on ethical behaviors have increased tremendously...
Words: 5413 - Pages: 22
...ethical and socially responsible business behaviour over the past two decades. The World Business Council for Sustainable Development has taken many initiatives to advance public’s concern about energy, climate, environment, sustainability, and corporate responsibility (Marrewijk, 2003). It defines CSR as “the commitment of business to contribute to sustainable economic development, working with employees, their families and the local communities”. As highlighted by Jamaliand Mirshak (2007), the fundamental idea of CSR is that business organizations would have an obligation to fulfil the needs of various organizational stakeholders (Waddock, Bodwell, & Graves, 2002) Corporate social responsibility (CSR) practices or initiatives have been performed by many corporations, particularly as a large number of researchers have demonstrated the benefits of being socially responsible (Berens, van Riel, & van Bruggen, 2005; Luo & Bhattacharya, 2006; Nan & Heo, 2007; Vaaland, Heide, & Gronhaug, 2008). In general, previous studies in Western developed societies have shown a positive relationship between CSR associations and corporate product evaluation. In order to really understand CSR we must root it in a broad understanding of the inter relationship between a corporation and society while at the same time anchoring it in the strategies and activities of specific companies. Successful corporations need a healthy society, while a healthy society needs successful companies, since...
Words: 9432 - Pages: 38
