The Role of Ethics and Social Responsibility in Management

Ethics can be defined as a process of evaluating actions according to moral principal of values (A.Alhemoud). Throughout the centuries people were trying to choose between profit and moral. Perhaps, some of them obtain both, but every time it could have roused ethical issues. Those issues concern fairness, justice, rightness or wrongness; as a result it can only be resolved according to ethical standards. Setting the ethical standards for the way of doing business in corporation is primarily task of management. Corporations have to maintain the same standards as an individual person and, in addition, corporations, as organizational units, have their own social responsibilities toward customers, employees and society. However, any business should keep it?s original purpose of functioning - making profit. Balancing the traditional standards
of profitability and burden of social responsibilities is not an easy task. In recent years it
has been a trend of setting standards of corporate ethics according to a high degree of
morale.
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