May19, 2015 Hawthorne Welcher, Jr.
A corporation is well-defined by the vision and mission statement of the business; the vision of a company is what the stakeholder of the business want for the business in the future. The mission of a business is about the attitude toward social responsibility. When determining how to serve the different types of stakeholders in a business, a company must think about polices and ethics of the business first. The reason for this reflection is to determine the steps a company can use to recognize, comprehend, merge and organize the differences to determine which social responsibility are the most important to the stakeholders and the company. A brief summary of the writer process during her Master in Business Program has changed her ethical perspective.
Ethics and Social Responsibility
The idea that a business social responsibility is to serve society in general; as well as the financial interests of the stakeholders is still a double edge sword in the business world today. Separating the stakeholders into two groups internal and external will help to determine how to meet the social responsibility company has to the both groups. When determining the social commitment of a business a strategic manager must look at the four types of social commitment: ethical, economic, legal, and discretionary social responsibility. The ethics responsibilities of a business go beyond the legal requirements of a business. Capitalizing on revenues of a business is the core of financial considerations; while maintain compliance with regulations and protocols are followed and taken into account under lawful obligations. The lower management and employees of the company assumed duties encompass the flexible or discretionary responsibilities of a corporation. Some of the demands of the stakeholder may overlap these responsibilities only a few are essential in the mind of the overall community (Wheelen& Hunger, 2010).
A person ethical perspective is created base on what she believes to be her truth which, in turn created my personality and standards. What a person knows about the truth is subject to revision. As Phyllis started the Master’s Program, her morals, and values progress even further. She gathers moral beliefs from educators and people of her age at that time in her life, which strengthens her individual perceptions of wrong and right. Furthermore, as she intermingles with her…