Mgt 498 Ethics

Ethics

MGT/498

A business must operate with ethics as a guiding principle to be successful and profitable. A company that is publically traded bears a responsibility of being a good steward of the profits the company earns, for the stakeholders, employees, and clients. The social aspect of a company and ethics go hand-in-hand. If a business fails to act ethically responsible, the result of that behavior can affect it socially. "The concept of social responsibility proposes that a private corporation has responsibilities to society that extend beyond making a profit" (Wheelen & Hunger, 2010, pg. 72).

When a company is established, it begins with a foundation constructed from an idea. The idea evolves and must blossom for the business to grow and make a profit. When a...