Ethics, Social Responsibility And Sustainability - Principles of Management

Principles of Management:

In order to win over competitors and enhance sustainability prospects, organisations need to manage for ethical standards. As such, managers need to be aware of what constitutes ethical conduct, and the ways through which they can promote ethics in their respective organisations. As Ratan Tata puts it, "businesses need to go beyond the interests of their companies to the communities they serve". Explain this view and discuss the arguments for and against managing for ethical standards, and going beyond company's interests to that of the wider community. As part of your response, discuss whether this makes it easier or more challenging to be an effective manager. Question: 1. Define ethics, values, social responsibility and sustainability. 2. Discuss the various approaches that managers employ in evaluating and deciding on ethical dilemmas and social responsibility issues. 3. How can managers promote ethics in their respective organisations? 4. Discuss the relationship between upholding ethical standards, being socially responsible and sustainable. 5. What could be achieved by going beyond company’s interests to that of the wider community? 6. Does upholding ethical standards and being socially responsible add on to the challenges facing effective managers?