Why should entrepreneurs be concerned with ethics or social responsibility (how an organization responds to the needs of its stakeholders)? What are the benefits of ethical and social responsibility standards being incorporated into the venture? How can an entrepreneur quantify the "bottom line" value of ethical behavior? What is an organization's responsibility to the environment?
Why should entrepreneurs be concerned with ethics or social responsibility (how an organization responds to the needs of its stakeholders)?
I would say that entrepreneurs should be concerned with ethics and social responsibility because it affects the company's bottom line. If an organization treats their stakeholders, who are most often their customers, poorly, they no longer invest their money in the company's goods and services. An organization that behaves unethically is also at a higher risk of legal ramifications (ex - being sued) for misrepresentation or another type of legal issue. These types of law suits damage the company's reputation, make employees choose to no longer work for them, and drive stakeholders (and their money) away from the company thus affecting the ...
A discussion regarding social responsibility within organizations including the benefits of ethical and social responsibility standards. 509 words.