Ethical principles provide the foundations for various modern concepts for work, business and organizations, which broaden individual and corporate priorities far beyond traditional business aims of profit and shareholder enrichment. Ethical factors are also a significant influence on institutions and public sector organizations, for whom the traditional priorities of service quality and cost management must now increasingly take account of these same ethical considerations affecting the commercial and corporate world. The modern concept of ethical organizations encompasses many related issues including: • corporate social responsibility (CSR) – or simply social responsibility • the ‘triple bottom line’ • ethical management and leadership • ‘Fairtrade’ • globalization (addressing its negative effects) • sustainability • social enterprise • mutuals, cooperatives, employee ownership • micro-finance, and • well-being at work and life balance Any other aspects of good modern leadership, management and organizations which relate to ethics, could be added to the list. Ethics is a very broad area. You will see very many different definitions and interpretations of the concept, and you should feel free to develop your own ideas about ethics in terms of meaning, composition, methods and implications. There are no universally agreed rules of ethics, no absolute standards or controls, and no fixed and firm reference points. This is fascinating given how hugely important ethics have now become in modern life and society. After reading your text and the above, do you feel social responsibility will have to be legislated in the future, or will companies choose to be more socially responsible to meet the expectations of customers and/or other stakeholders? Discuss fully…..
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