Ethics Reflection Paper

Ethics Reflection Paper

Human beings are social animals and they act on and react to different issues around them individually and as groups which they form coordinating multiple individuals. The society they live in expect certain principles and standards from each individual and group which are not necessarily written, but understandable to all by virtue of their being a part of the society. The ethical principles and social responsibility codes are those terms and standards of conduct evolved through years in the human society, to be observed by each individual and group for the betterment of the society as a whole. “The term ethics refers to the moral principles that reflect society’s beliefs about the actions of an individual or a group that are right and wrong.” (Pearce,Robinson, 2009, P. 70).

As in the case of individuals and social groups, businesses are also expected to uphold ethical values and take up social responsibilities. Though no universally accepted code of ethics exists, the businesses are required to operate in a socially responsible way for the benefits of all of its stake holders while planning to reach its end goals or objectives.

Social responsibilities are divided in to economic, legal, ethical and discretionary responsibilities. The economic responsibility is considered to be the basic of all these responsibilities as a business cannot exist without profit making, but profit making is only a part of the economic responsibility as in the process, the company provide goods and services to the society, job to the workers and pays taxes to the government which make it socially responsible.

Legal responsibility requires that a firm comply with the law of the land and act environmental-friendly. Ethical responsibility refers to the commitment of a company to ethical values and the urge to monitor the evolution of a better society. Though not a requirement, observing ethical responsibilities make a firm credible and trustworthy before...