Business Managment Essay Example | Topics and Well Written Essays - 500 words

Business Managment - Essay ExampleIn this way, we can examine applications in the wrinkle context, and then drawing conclusions about their roles in strategy.Strategic ethics comprises principles and standards that conduct behaviour in the world of business Ferrell and Fraedrich (20006). friendly responsibility on the other hand is the obligation a business assumes toward society. Jennings (20036) defines these responsibilities as be economic, legal, ethical and philanthropic. A business economic responsibilities are to produce goods and services that society needs and wants at a price that can perpetrate the business and satisfy its obligation to investors. The legal responsibilities are the laws that they must obey. respectable responsibilities are defined as behaviours or activities that are expected of business by society alone are not codified in law. Philanthropic responsibilities are those behaviours and activities that society desires and business value dictate.Social responsibility then can be viewed as a contract with society, whereas business ethics involves conservatively thought out rules of business organizational conduct that guide decision making. Business ethics relates to rules and principles that guide individual and work group decisions, whereas social responsibility concerns the effect of organizational decisions on society.When a corporations values and ethics support its strategy, the companys stability and success i