Business Ethics

Business Ethics

Business Ethics

Ethics is a branch of philosophy dealing with values relating to human conduct, with respect to the rightness and wrongness of certain actions and to the goodness and badness of the motives and ends of such actions ("Ethics", 2012). Business ethics is developing personal ethics to meet the needs of the organization and the behavior business adheres to when executing the organization objective. The purpose of this essay is to discuss the role of ethics and social responsibility in developing a strategic plan while considering the needs and objectives of stakeholders. This essay will discuss Enron, an organization who overstepped their ethical boundaries for the stakeholder’s agenda. In addition analyze preventive measures that organizations can take to avoid being involved in unethical situations.

Business Ethics and Social Responsibility

Business ethics is how business addresses and examines the ethical and moral behavior or issues that may arise in a workplace. Social responsibility is the obligation of individuals a part of an organization that strives to sustain a healthy environment and society by making quality behavioral decisions and activities. These decisions enhance the welfare of society. There are several methods organizations can implement to ensure the ethical principles and social responsibilities meets the needs and objective of stakeholders. Organizations develop and implement policies to ensure organization and structure within the workplace such as code of ethics and corporate social responsibility. The obligation of social responsibility is a component of business ethics. Society plays a vital role in an organization success therefore organizations should not have an issue with improving it. Establishing a social responsibility will build the confidence of the suppliers, consumers, and employers, which will increase the organization profits.

Enron Overstepping Ethical Boundaries

Enron an energy...