Let's also discuss ethics and social responsibility from Chapter 7 of the CapsimCore Business Primer eTextbook....

Let's also discuss ethics and social responsibility from Chapter 7 of the CapsimCore Business Primer eTextbook.

What makes a problem or situation an ethical issue?

How are business ethics and social responsibility related?

Solutions

Expert Solution

Generally an ethical issue arises due to difference in the perception between or among individuals. A problem or situation will become an ethical issue because of different perspective of people. It is totally depend upon the perception of rightness and wrongness of the person. A person always take their decision based upon their personal thinking and personal judgement so sometimes difference in the thinking and judgement capabilities among individuals may causes a situation an ethical issue. Definition of right and wrong behaviour is different from person to person. So differences in all these perspectives makes a problem or situation an ethical issue. Sometimes dishonesty also leads to ethical issue among people. Misleading, confusion, manipulation of person's feeling in negative sense, deception, greed are also among the sources of making a situation or problem an ethical issue.

Business ethics and corporate responsibility are very much closely related. Business ethics is basically a form of applied ethics in the business which will examines the ethical principles and moral knowledge which will be implemented in the working environment of the organisation in order to maintain a fair trade and sustainable working culture and in the same way corporate responsibility include good corporate governance and ethical leadership which will help out the organisation in order to do good work for the welfare of society and enhancement of nation towards sustainable development.

Business ethics and corporate responsibility provide high integrity, both are highly socially responsible, always provide organisation with less prone to stress, attrition and dissatisfaction. Both builds a positive reputation of the organization. Both are highly comply with ethical and socially responsible standards in order to maintain the legacy of the organization.

keosha answered 1 month ago

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