THE RESPONSIBLE BUSINESS - 1025 Words

There are two factories and an explosion at each of them: both result in the same cost in damages and casualties, but one was caused by a bolt of lightning and the other by a corroded pipe and a smoking employee. One is considered as an act of God and the other is negligence. After these events occur the only difference is who is responsible and thus who will pay the bill. In the end, responsible actions should have been taken in both cases because when lives and money put in the hands of others, ethical steps should be taken to protect these assets. To be ethical requires three things: knowledge of the situation, knowing what issues are important, and brainstorming alternatives (DesJardins, 2011). To be responsible is to be the one who†¦show more content†¦Second, the coffee has a clear warning like most coffee cups. Although, the coffee was made by a shop there is a cultural understanding that the coffee shop is not liable for a person’s coffee burns. Similarly burger joints are not responsible for ketchup stain and condoms are not responsible for unwanted pregnancies. This is due to an implied cultural understanding and trust. There is a trust that ketchup is delicious, although there is a potential for stains, and trust that a condom will prevent pregnancy. It is when this trust is broken on a large scale that a company becomes responsible. A single instance of a ketchup stain is understandable, but when millions of Americans stain their shirts because of defective packets, then action should be taken. This wa y a company protects their greatest asset: the customer. People rely on large and small businesses for their goods and services every day. After years of loyalty, trust is created between the two: people and business. Certain expectations and a desire for consistency will appear. If the consistency is broken it is the responsibility of a business to â€Å"stabilize† a person’s life. If a company refuses this, then the company’s reputation becomes compromised. When a company creates a bond of trust, it is essential for the company to protect the bond that they have created. There is ambiguity in ethics. Knowing when ethicalShow MoreRelatedCorporate Approaches to Responsible Business1492 Words   |  6 Pages Week 8 Tutorial: Corporate Approaches to Responsible Business (Assessed) Critical Reflection: Question 6 (Shaw et al textbook, pp.198-199) Read the Kellogg case before your tutorial and prepare typed answers to the following questions. Question 1 : Do you think that Kellogg’s CSR statement is sincere, or is the company merely trying to convince stakeholders that it is a socially responsible company? Explain. Answer: CSR statement of Kellogg has deceived the public as their products has beenRead MoreEthical And Socially Responsible Business Practice1662 Words   |  7 PagesIntro This essay will examine in details the challenges, limitations faced by corporations and the strengths that are drawn from their ethical and socially responsible business practice. In today s business world, it is difficult for corporations to define what is regarded as a responsible business practice in the areas of ethical and social responsibilities. 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This is specifically related to the business finances because they regulate budgets and make decisions that can save or spend money, but people in these roles often dread the financial competent because they may not have adequate training. The best way to learn the important fundamentals of financial statements and ratios is to understand their componentsRead MoreB usiness Ethics : Ethical And Socially Responsible Behaviors2491 Words   |  10 Pagesorganizations believed business ethics was only a way of managing compliance of legal principles and adherence to internal regulations and policies. Today the situation is different. Attention to business ethics is on the rise and many companies realize that in order to succeed, they must earn the respect and trust of their employees and clients. Presently organizations are being pushed to better their business performance to stress legal, ethical and socially responsible behaviors. OrganizationsRead MoreBusiness Ethics : Ethical And Socially Responsible Behaviors2491 Words   |  10 Pagesorganizations believed business ethics was only a way of managing compliance of legal principles and adherence to internal regulations and policies. Today the situation is different. Attention to business ethics is on the rise and many companies realize that in order to succeed, they must earn the respect a nd trust of their employees and clients. Presently organizations are being pushed to better their business performance to stress legal, ethical and socially responsible behaviors. OrganizationsRead MoreResponsible Enterprise And How It Effects Almost Every Business1599 Words   |  7 Pagesacademic literature examine responsible enterprise and how it effects nearly every business, firstly in this essay the report will begin with an definition on what responsible enterprise is and what it means. Then there will be an analysis of one of the five drivers of responsible enterprise and explain the role in which the government plays a part in boosting responsible enterprise. Finally, this report will conclude with a synthesis of the findings on what constitutes responsible enterprise and the magnitude