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Introduction to Business : PDF

   

Added on  2021-04-21

12 Pages2790 Words75 Views
Political Science
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Running head: INTRODUCTION TO BUSINESSIntroduction to BusinessName of the Student:Name of the University:Author’s Note:
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INTRODUCTION TO BUSINESS 1Table of ContentsIntroduction......................................................................................................................................2Discussion........................................................................................................................................3Conclusion.......................................................................................................................................8Reference List................................................................................................................................10
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INTRODUCTION TO BUSINESS 2IntroductionChellet al., (2016), have defined social responsibility as the concept which states that thebusiness entities should not only focus on the profit making activities but also they shouldmaintain an appropriate balance between these activities with those which benefits the societyeither directly or indirectly. This may incorporate enhancing the businesses while maintaining apositive relationship with the society within which it is operating. The International Organizationfor Standardization (ISO) focuses on evaluating the relationship between the businessorganization and the environment surrounding the organization. Presently this socialresponsibility is being used as a measure of overall organizational performance. The socialresponsibility in turn makes an organization or individual to act in the best possible manner so asnot to affect the environment and society. Furthermore, Corporate Social responsibility can be defined as a concept through whichthe companies the social and environmental concerns of the organizations are integrated withtheir business operations and also within their interaction with the stakeholders (Crane & Matten,2016). On the other hand, business ethics has been defined as a self-conscious way throughlooking at the business. In the context of business entities it is quintessential to maintain aminimum level of ethics while conducting the business otherwise its alignment with the socialresponsibility or corporate social responsibility will be unbalanced. This assignment will focuson determining the role of business ethics and corporate social responsibility on businessorganizations. This academic essay will further emphasize on evaluating how the scholarlyliterature base is opining about maintaining ethics and social responsibility in the context of thepresent global environment of business.
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INTRODUCTION TO BUSINESS 3DiscussionBusiness ethics can be explained as the standard or principle that outlines whether thebusiness conducts are acceptable or not. This behavioral acceptability of the business isdetermined by the competitors, customers, interest groups, government regulators and thepersonal and moral values of the individuals as well. In order to provide an example the case ofAzko Nobel Chemical BV in Canada can be stated (Hartman et al., 2014). The CompetitionBureau of Canada pledged the company guilty in the federal Court for participating inconspiracies for manipulating market prices and for using chemicals in numerous consumerproducts as well. There are numerous researchers who believe that the businesses should not only focus onaccruing profit but also take into account the social implications imposed by their businessoperations. Kolk (2016), have defined social responsibility as the obligation of the businessentities towards reducing the negative impact and enhancing the positive impact of the businessactivities over the society. However, there are several instances where the people use the termssocial responsibility and ethics alternatively. Although the meaning of these two words are notthe same. The ethics of a business emphasizes on the decision of an individual or a group ofindividuals that the society evaluates whether is correct or incorrect. On the other hand, socialresponsibility or corporate social responsibility is a wider concept that determines the impact ofthe business activities over the entire society (Ferrell & Fraedrich, 2015). For instance, from anethical perspective one may become concerned and restrictive while health care organization oran individual practitioner is overcharging the provincial government for their service. However,from the social responsibility perspective it would be considered whether this overcharging mayenable the system to provide ample medical facilities to the broader population.
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