Business Ethics and Social Responsibilities Essay

Business Ethics and Social Responsibilities - Essay Example The decision making process for incorporating ethics then becomes one of the most important values that are associated with businesses and the changes which occur in terms of defining and keeping specific ethical values. Decision Making Processes Traditionally, business ethics have been defined by the basic values that any corporation decides to reflect to the public and to implement within the organizational environment. However, the term is one which is now beginning to expand based on dimensional changes which are occurring within the corporation and in the environment. The decision making process to implement or change ethics is one which is now defined by the institution of business ethics and the changes which are required for businesses. Pressure from management and the association with the internal environment is one of the ways in which the process has changed. The influence of stakeholders, environmental concerns, social issues and political expectations have continued to i nfluence the process more with the recent trends in decision making processes. Ethical considerations not only relate to the basic foundations of a business but now also link to the internal and external pressures that are developing new standards for corporations (Ferrell, Fraedrich, 2009). The decision making process for ethics not only incorporates the various influences but also becomes based on the strategic implementation of plans, as opposed to the value and ethics which are primary for most in the business. The concept is one which leads to initiatives such as looking at the moral and value considerations and how this will affect the investments and finances. Stakeholder investments as well as the positive and negative influences are some of the areas that become primary considerations for ethical implementation. In a recent study (Hofmann, Hoelzl, Kirchler, 2007), it was noted that the moral considerations had a direct impact on the revenue which was created within the comp any. Moral behavior, such as the treatment of employees, had a direct correlation with the overall profitability as well as the expected dividends per share. Controlling profit, specifically when noted from this study, then directly correlates with the planning and implementation of moral treatment and ethical considerations and reflects with the stakeholder value and overall profits which are developed from a corporation (Hofmann, Hoelzl, Kirchler,2007). Processes for the Internal Environment The importance of strategically implementing the morals and values within a corporation lead to changes which occur with the internal and external environment. The effects which are created strategically are able to provide not only overall profit but also change the cultural effects within the organization. The process of ethical and moral considerations then becomes strategic for the overall quality and functions of an organization. More than having a foundation for the ethics of a business is the need to incorporate this in terms of the environment and how this will affect the different functions which one has. The process for the internal environment first begins with the decision making of having specific ethics that allow the managers and employees to follow specific rules. This is followed by reflections of the corporation that are associated with corporate responsibility which is continuously taken and a part of