Essay Ethics and social responsibility

Business ethics are the act of determining and making the right choices. Companies develop a set of rules and principles that guide their decisions and actions, creating positive influences on employees and consumers. Though every business forms a unique set of principles, they usually follow the same ethical standards. Social responsibility is a business's duty to make ethical decisions that positively impact society. Organizations need to consider how their actions affect communities to create long-lasting trusting relationships. In order to be socially responsible, companies must strictly follow their codes of ethics. Being socially responsible and following basic business ethics have the following benefits: Gaining more customers: Consumers are more likely to continually support businesses that care about the impact they make. Being positives influences on communities and maintaining ethical standards allows businesses to gain new customers and maintain existing ones. Existing customers are also more likely to promote the company by word of mouth. Recruiting from a wider candidate group: Professionals are increasingly searching for careers with companies that are ethically and socially responsible. Promoting a strong code of ethics that includes social responsibility can help companies attract and retain more candidates. Getting an advantage over similar businesses: Companies that promote social responsibility often acquire more customers than businesses in the same industry. Organizations can see advantages over their competition by considering their impact on the community. Creating a positive work culture: When employees agree with a company's code of ethics and social responsibility, they are more likely to feel motivated and support the organization. Employers who encourage employees to take action in their community also gain more approval and commitment.