* From the e-Activity, create a list of three (3) best practices for companies t
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Question
* From the e-Activity, create a list of three (3) best practices for companies that want to be socially responsible and suggest ways that companies can go about implementing these best practices.
Imagine that you work in a company. You were just in a meeting where you learned that your employer was anticipating declaring bankruptcy, and you know that your friend is going to place her life savings into the purchase of $20,000 worth of stock at your company. Evaluate the principle of ethics as it applies to leadership and determine the role of ethics as you move upward on the corporate ladder
Explanation / Answer
Compaines - Socially responsible Strategies :
Reason why Compaines should think about Social Responsible Activities :
These srategies are used by the companies for obataining sustainabilty in the growth of the company.Socially reponsible strategies can help the companies to maintain good relations with the society and this in-turn increases the goodwill of the company.
Business Sustainability :
The process of business stategy is formed on the basis of managerial decisions which plan accrording to the Company Financial Status and Environmental , Social Conerns. This helps the manufacturing companies to know how their actions affect the environment. This strategy can help them think the ways to reduce their impacts.
3 Best Practices for Social Responsible Activity :
Role of Ethics :
Ethics are defined as the values of a individual person , he is committed to life. The moral judgements about what is right and what is wrong in respective to him and others, Companies with good ethical values enjoy few benefits :
Case Study : Example given in the question : Honesty is a necessary ethic not just for the company but also for the individual. Honesty in communicating the eaxct facts to the customers. Unfair rumours and being straight to the point and explaining them the entire situation regarding the company and its sales.
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