A to maintain the same standards as an

A Role of Ethics and Social Responsibilities in Management.

Ethics can be defined as a process of evaluating actions according to
moral principal of values(A.Alhemoud). Throughout the centuries people were
trying to choose between profit and moral. Perhaps, some of them obtain both,
but every time it could have roused ethical issues. Those issues concern
fairness, justice, rightness or wrongness; as a result it can only be resolved
according to ethical standards.

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Setting the ethical standards for the way of doing business in
corporation is primarily task of management. Corporations have to maintain the
same standards as an individual person and, in addition, corporations, as
organizational units, have their own social responsibilities toward customers,
employees and society. However, any business should keep it’s original purpose
of functioning – making profit. Balancing the traditional standards of
profitability and burden of social responsibilities is not an easy task. In
recent years it has been a trend of setting standards of corporate ethics
according to high degree of morale.

To be able to keep the ethical standards management must follow the law.

However, there are some complications in enforcing it. The law affects and is
affected by social forces and prevailing ethical standards. “Although the law
can codify societies ethical ____________________________________________________
____________________ Alhemoud, Ali ” Management Ethics is Smart Business.”
values, ethical decision making transcends the law in that 1) the law deals with
actions not with thoughts, and therefore it does not (and cannot) codify all
ethical requirements; and 2) an individual or a group may perceive a given law
as immoral, not as a guide to ethical behavior.” ( A. Alhemoud). How, then, a
company can ensure that its code of ethics is both followed and enforced ? ” .

..Defense firm such as General Dynamics and TRW, and an information company, Dun
& Broadstreet, have appointed internal ethics officers or ombudsmen. Whether
employees have faith in these safeguards against corporate retaliation is hard
to tell, though it is one step forward (The Economist August 19 1995)
The ethical codes of corporations that that get so important nowadays
also did not come into being at once. They emerged from individual ethical
standards and corporate consciousness. Moreover, the public demand for
prosecution of any violations of corporate, professional and business ethics has
been increased. Finally, mass media made possible for society reveal secrets
that were kept from public before. So, the business conduct regulations were
created to “draft guidelines for ethical conduct, develop a process for
monitoring business practices and recommend ways to correct questionable
activities.” (J.Byrne) All these measures were taken to balance various social
responsibilities with the high degree of moral and sense of attainment.

Unfortunately, cooperation of unethical behavior of a manager with a
journalist may lead to an undesirable results. “Early in December 1995 , Smart
Money’s editor-at-large James J. Cramer wrote an article for his monthly column;
Unconventional Wisdom, __________________________________________________________


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