Social Responsibility and Managerial Ethics Essay

Social Responsibility and Managerial Ethics - Essay Example In this connection, organizations or companies intends considering social responsibility as major initiatives or activities in order to support social causes along with satisfying commitments through corporate social responsibility (Kotler & Lee, 2008). Similarly, managerial ethics are often regarded as the code of moral ideas and values that manage the overall behaviors of an individual. A managerial ethical issue lies in such a situation when the various actions of an organization are observed to have the potential to damage or benefit the stakeholders by creating an impression on their perceived personal values (Draft & Marcic, 2010). Henceforth, in this paper, the importance of social responsibility, various risks that are linked with social responsibility and the important factors in order to overcome those risks will be elaborately discussed followed by a strong conclusion. The main objective of this paper is to make a strong belief that the companies or the organizations shoul d contribute their expensive resources as well as time to supervise their social responsibility. ... It is a part of contemporary managerial ideology which is considered in order to evaluate various decisions, beliefs and actions among others. In context to business operations, a particular organization expects to exercise greater ethical values and perform various responsibilities towards the society (Griifin, 1993). People in the organizations may hold dissimilar views regarding the ethically suitable or unsuitable actions related to a situation which in turn gives rise to ethical conflicts and thus in turn tends to signify the essentiality of managerial ethics and corporate social responsibility (Draft & Marcic, 2010). Social responsibility can be regarded or treated as one of the ethical actions considered by an organization or a company. However, a particular business cannot continue with good performances to a certain extent if it lacks in efficient financial and/or operational strengths. For instance, if the business is making too much loss in expenditures, it eventually inte nds to retrench the production cost that in turn affects the service/product quality hampering customers’ perceived values and leaving the employees jobless. This particular evidence might prove disregarding in relation to social responsibility towards the employees within an organization (Griifin, 1993) Thus, in order to promote a well equipped development within an organization, it is necessary to accept the importance or necessity of social responsibility. The importance of social responsibility is duly considered high because of its assertion towards business in order to enhance economic value, maintain coordination between employees’ work life and personal life, local communities as well as to