Ethical Responsibilities of CSR (Annotation 2)

    The business ethics are considered as the higher spirit than the laws. Whether actions and practices of business correspond with ethics or not is judged by the public. Although there are no standards for ethics, the judgment is in accordance with what you do. One of the important foundations for companies is the reputation, which is associated with the business ethics. A successful company is widespread with the good reputation. Therefore, entrepreneurs need to retain an excellent reputation for their companies by having ethical responsibilities.

       

    In 2010, Josephson’s study of ethical principles showed that the business executive success is related to these 12 principles: “honesty, integrity, promise-keeping, loyalty, fairness, concern for others, respect for others, law abiding, commitment to excellence, leadership, reputation and morale, and accountability.” I think that they are the important elements for managing companies and being responsible for the society.

        

    “Fairness is concerned with actions, processes, and consequences, that are morally right honorable, and equitable” (Josephson, 2010). If we apply the fairness on the business, it means that what you get is equal to what you give. For instance, you sell products with higher prices to customers, and you have to assure the better quality. That is to say, entrepreneurs cannot get extra improper profits from customers. Also, entrepreneurs cannot use the power to exploit employees or workers, which causes the inappropriate existence of “sweatshop,” and they need to give employees or workers what they ought to be paid. On the other hand, the behavior or decisions entrepreneurs do can be openly examined by the public.

       

    The deal should be established on the trust, so the integrity is significant for companies. If a company has a broken credit or the worse reputation, no one would like to make a deal with it. Entrepreneurs cannot sacrifice the integrity for temporary benefits because it is worthless. Managing a company is an everlasting thing, and entrepreneurs need to develop an eternal relationship with sincerity in the society.

In the fiercely competitive market, entrepreneurs want to be in the domination of the field, and strive for their own benefits. Under this condition, the integrity is obviously what makes you different from other companies.

    Having ethical responsibilities has been considered as an important and meaningful issue by more and more people in the recent years. The business ethics is following good intention in your heart, and do what is right. The justice is in everyone’s heart, but the importance is whether your deeds are in correspondence with it. As an entrepreneur, if you have the greater customer or employee loyalty, you can get the increasing revenues. Ultimately, what you gain is from what you are devoted. 

Source:

1.  Josephson, M. (2010). Business ethics & leadership: 12 ethical principles for business executives. Retrieved October 30, 2013, from Free Management Library Web site: http://josephsoninstitute.org/business/blog/2010/12/12-ethical-principles-for-business-executives/

2. Josephson, M. (2010). Business ethics & leadership: Fairness. Retrieved October 30, 2013, from Free Management Library Web site: 
http://josephsoninstitute.org/business/blog/2010/12/fairness/