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Organizational ethics and responsibility in the 21st century

Please provide some background information on the following:
•How can managers please stakeholders while remaining ethical?
•Explain the importance of ethical responsibility.
•How do stakeholders impact decision-making?
•How can a leader be profitable and ethical if the competition is not?
•Give an example of a company that has been unethical and the consequences of that action. See: Eight Important Business Ethics Cases.
•Give an example of a company that remained ethical and the consequences of that action.

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Explain the importance of ethical responsibility.

The importance of ethical responsibility lies within an holistic conceptual framework toward corporate governance wherein a company is concerned ensuring that all of its policies and processes are ethically sound. Ethical responsibility is imperative because companies shouldn't only focus on the profit-generating motive but must also ensure that they remain committed to engaging in fair practices, not exploiting people or the environment for unnecessary gains, and being a positive example within the community. Companies possess ethical responsibilities to their employees, customers and society as a whole, and this is why ethical responsibility is a necessary function for companies to focus upon. Ethical responsibility is necessitated so that employees have the autonomy to make informed decisions about their careers; customers can expect to receive precisely what they are paying for; and communities that provide the crux of a company's business can receive investments from the company for the communities future as the well-being of any company depends on the community.

Therefore, companies must establish social responsibility ...

Solution Summary

Organizational ethics and responsibility in the 21st century. Contains information regarding ethical practices in business and the benefits of being an ethical organization.