Ethical Paper

Ethics Paper

Sheila Purdy

MGT/498

January 31, 2013

Robert Stack

Corporations exist to make profits. They operate and depend on societies’ resources for their daily functioning. The society represents the various interest groups that interact with the corporations such as customers, suppliers, employees, shareholders, competitors and the government. Corporations, therefore, have an obligation to give back to the society. Corporate responsibility encompasses all duties corporations’ undertake to protect the welfare of society; such duties may be routine business or social activities.

A corporation’s primary role is to earn a fair share of return for its investors and owners and growing the capital. To achieve this, the corporation must utilize the capital and all resources invested into it wisely and efficiently. The corporation must also ensure that it maintains relevance in its industry by offering products and services, which remain appealing to the market.

Promoting better corporate citizenship, corporations must ensure social sustainability by contributing to the enhancement of a weak and poor society, providing employment, and protecting and conserving the environment. Additionally, corporations must fulfill invest in its employees because great companies are measured by their people. Some of the ways they can respond to them include fair remuneration, providing palatable working conditions, training and development, and job security.

To ensure that customers are happy and continue supporting their businesses, corporations must earn customer loyalty by offering quality products and services that meet customers’ needs. They do this by performing continuous research and development to support enhancement of the products and services. Corporations must also employ reliable distribution of goods and services, fair prices, personalized customer relations and integrity.

Corporations exist in a society governed by rules, laws and regulations imposed by...