Managing company ethics and social responsibility essay

Types of Managerial Ethics 1 Moral management Moral management strives to check out ethical ideas and doctrines. Moral professionals work to succeed without violating any honest benchmarks. They seek to achieve success left over within the bounds of laws. Such managers undertake such activities which ensure that though they may engage in legal and ethical behavior, they also continue to make a profit.

Importance of ethics and social responsibility in the business world | Essay Example

Nowadays, the company markets over brands and has more than 2, products in every category in the beauty business. From hair colour products, the company expanded its product lines to permanents, styling aids, cleaners, perfumes and body cosmetics.

Those products were distributed through different distribution channels, from hair salons and perfumeries to hypermarkets, supermarkets, and health and beauty outlets.

They also distributed their products through direct mails and promoted the products hardly via advertising. Each employee also receives a copy of this document to apply in their day-to day activities. CONTENTS Corporate Social Responsibility CSR refers to the fact that board of directors of a company, as the trustees of various interest parties that actively participate in altruist activities in order to perform their due corporate roles in the society according to Liu Jun Hai, ; for those profit-oriented companies, when their decision making bodies become certain that some undertakings are mostly desired by the majority of the society should give up their intent of making profits from the undertakings and try to meet the expectations of the majority according to Liu Lian Yu ; the fact that companies shall not take optimal-profit-making for directors as the sole aim of corporate existence.

CSR is an integration of legal and moral obligations of a company. Legal obligation, a statutory liability taking state coercive forces as its performance guarantee, means legal security of minimum requirement of morality necessary to maintain basic social order.

Moral obligation is a responsibility non-legalized and voluntarily performed by the obligors and which takes any other means than the state coercive forces as its performing guarantee.

It is a higher demand of morality on people above their legal obligations. CSR, as an obligation that a company is liable to the society, is not simply a legal obligation or a moral obligation.

Rather, it is the integration of the two. CSR is also an amendment and complement to the conventional principle of maximized profits for shareholders. The conventional companies and company laws take individual principals shareholders as the starting point for consideration, believing that the highest or the sole objective of a company is to achieve profits in order to maximize the profits for shareholders whereas CSR takes social principals as its starting point, believing that the objective of a company should be of two dimensions.

In addition to realizing the maximum profits for shareholders, companies should also strive to maintain and upgrade social benefits. Any single one of the objectives will have to be put under restriction by the other of the two corporate objectives to achieve maximum corporate profits and social benefits.

Therefore, the objectives of making profits and of bringing social benefits are often found in strong tension.

Business Ethics and Social Responsibility Essay Example for Free

Their respective objectives of maximization are realized under conditions of reciprocal interactions and a balance in corporate objectives has also been maintained.

Obviously, CSR is an amendment and complement to the conventional principle of maximized profits for shareholders. And this amendment and complement does not reject the principle of maximizing profits for shareholders according to Lu Dai Fu Helping men and women around the world realise that aspiration and express their individual personalities and gain self-confidence to the full is their main mission.

Mission is an essential purpose that differentiates one company from others that gives so much meanings and values to their business and to the working lives of the employees and they are proud of their works.

This enables their brands to deliver products which are innovative which is the process of taking a creative idea and turning it into useful product, service, or method of operation Robbins, DeCenzo, and Coulter, 8th editionhighly effective which means doing right things, or completing activities so that organisational goals are attained Robbins, DeCenzo, and Coulter, 8th editionpractical and pleasant to use, and which are manufactured to the most demanding standards of quality and safety.

They also constantly challenge themselves and their methods by aiming excellence. In the field of biology for example, the genomics explosion, progress in stem cell research and intensive use of multiple reconstructed skin models are giving us a clearer understanding of the diversity of the aging mechanisms at play in different ethnic skin and hair types, while enabling us to identify new cellular and molecular targets and to predict effects more quickly and accurately.

They place great value on honesty and clarity: They are committed to building strong and lasting relationships with their customers and suppliers, founded on trust which is belief in the integrity, character, and ability of a leader and mutual benefit. Robbins, DeCenzo, and Coulter, 8th edition They do business with integrity: They maintain high standards in accounting and reporting, and support the fight against corruption.

They deliver long-term, sustained shareholder value by protecting and making the most effective use of company assets. They know that their employees are their greatest assets.

They are entitled to a safe and healthy working environment: They believe in offering their employees a stimulating environment, exciting personal opportunities and a chance to make a difference.

They encourage an atmosphere of openness, courage, generosity and respect, so that all their employees feel free to come forward with their questions, ideas and concerns. As a responsible corporate citizen, they play their part in creating a world of beauty and fairness.

They are mindful of their impact on the natural environment, including biodiversity, and constantly seek to reduce it:In business an ethical code is very important to have, these codes set the standards of your company. Social responsibility is a continuance of ethics it involves more than just the principles of ethics it also includes integrity, fairness, and respect which affect stakeholders.

* Management’s only social responsibility is to maximize profits (create a financial return) by operating the business in the best interests of the stockholders (owners of the corporation).

Should Social Responsibility and Business Ethics serve a role in Corporations? All The Role Of Ethics And Social Responsibility Essays and Term. Social Responsibility and its links with Business Ethics: Social Responsibility is the obligation a business assumes to have for society.

To be socially responsible is to maximise positive effects and minimise negative effects on society. Ethics And Social Responsibility Words | 3 Pages.

Types of Managerial Ethics

Ethics and social responsibility 1. Introduction The contemporaneous business environment is more dynamic and more competitive than ever, reflecting a wide array of changes and challenges .

Large organizations and publicly held companies often use corporate governance to promote business ethics and social responsibility. This governance creates the framework of policies, procedures, and guidelines for all individuals financially invested in a company. L’Oreal is the world’s top cosmetic products manufacturer.

In , it was founded by Eugène Schueller, a young chemist who developed a hair dye formula which was safe for people.