Strict Government Regulations Are Necessary To Make Companies Behave Ethically
Ethics and social responsibility are a part of everyday life around the globe. From the time a business begins, ethics and social responsibility play an important role in deciding what direction that business will take, and how the company will turn a profit. Ethical behavior is critical to strategic planning for businesses. In order to be successful, businesses must consider themselves a part of the business community, as well as society. Making money is not unethical; however, money cannot be the driving force of ethical thinking within a business (ethics.org, 2008).
This paper will discuss the statement "strict government regulations are necessary to make companies behave ethically". An examination of this statement in accordance of ethics …show more content…
The challenge is to balance corporate citizenship with a fair level of profits" (Prenhall.com, n.d.). Here is where tricky situations occur. How does a business balance the best interest of society while creating a fair level of profits? One answer is through philanthropic efforts. Sure a company may have a slow start, and the feasibility of philanthropy may not enter the financial picture until later, but creating a business on a solid foundation of social responsibility can certainly pave the way to success. Many small businesses volunteer their efforts until such time when they can afford to give back to society and make the world, or even their own society, a better place to live (Green, M. 1997).
Examining the statement "strict government regulations are necessary to make companies behave ethically" invokes concerns regarding why certain regulations were not already in place, and how companies could, and still can, get away with unethical practices. As of this year, poor ethical practices within the business world are still making headlines. For instance, the head of the Smithsonian Latino Center in Washington, D.C. was reported as violating 14 ethical and conflict-of-interest policies (ethics.org,
This paper will discuss the statement "strict government regulations are necessary to make companies behave ethically". An examination of this statement in accordance of ethics …show more content…
The challenge is to balance corporate citizenship with a fair level of profits" (Prenhall.com, n.d.). Here is where tricky situations occur. How does a business balance the best interest of society while creating a fair level of profits? One answer is through philanthropic efforts. Sure a company may have a slow start, and the feasibility of philanthropy may not enter the financial picture until later, but creating a business on a solid foundation of social responsibility can certainly pave the way to success. Many small businesses volunteer their efforts until such time when they can afford to give back to society and make the world, or even their own society, a better place to live (Green, M. 1997).
Examining the statement "strict government regulations are necessary to make companies behave ethically" invokes concerns regarding why certain regulations were not already in place, and how companies could, and still can, get away with unethical practices. As of this year, poor ethical practices within the business world are still making headlines. For instance, the head of the Smithsonian Latino Center in Washington, D.C. was reported as violating 14 ethical and conflict-of-interest policies (ethics.org,