Ethics, Social Responsibility and Sustainability : Assignment

Added on - 23 Jul 2020

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ETHICS, SOCIALRESPONSIBILITY ANDSUSTAINABILITY
ETHICS, SOCIAL RESPONSIBILITY AND SUSTAINABILITYEthics and values are the moral principles that helps in governing the behaviour ofconducting one or the other activity. It involves systematic and defending yet recommendingconcepts which defines a line between right and wrong conduct of an individual or a company. Ithelps in defining the concepts of good and evil, virtue and vice, right and wrong and justice andcrime. Ethics and values are used by the organization so that set principles and protocols arefollowed ultimately guiding the decision-making process of the entity. It also ensures reputationand productivity of the enterprise as well.Social responsibility is another ethical framework which act as an obligation of thesociety to act in the benefits of people at large. It is the duty of every organization to perform andmaintain a balance between economy and ecosystem so that the ultimate results are notcompromised by any of the two (Klettner, Clarke and Boersma, 2014). A little contribution bythe organization act as a benefit of society at large. A positive relationship is developed with thesociety in which the enterprise is functioning. Business has to monitor that all the issued normsand standards are actively complied and managers has to keep a track of all the actions that arerelated to it.Sustainability is another important concept which states that it is important to indulge inoptimum utilization of the resources. It helps in avoiding depletion of natural resources andmaintain ecological balance through it. Organizing various aspects sustainably is not limited toimplementing sustainable strategies but to provide cultural and economical benefits to thesociety. It helps in carrying out the profitability in the long run and indulge in having a positiveyet strong relationship with the members of the society.The main role is played by managers in order to deal with values, morals, ethics andsustainability. They are the people who are responsible for preparation of strategies. There arevarious situations where the outcome of performing a sustainable and ethical task may not ableto fulfil the economic benefits of the organization. Certain strategies from the managers may notbe able to match with moral values and standards being issued by the government. In that case, itcreates a situation of ethical dilemma for them. Some of the issues can be, whether to lie, abuse,steal, break the terms of contract etc (Shah, 2014). Ethical dilemma faced by the managers canalso be highly complex in nature and more attached to the real-life situations such as whether toform a law with respect to religion or not, how to handle a particular conflict between two1
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