Management Essay Example | Topics and Well Written Essays - 1000 words - 6

Management - Essay Example C). Strategic decisions of an organization want to ensure its economic goals like profit maximization, volume, and the growth of organization. These decisions are largely influenced by their employees, customers and other stakeholders. Study of business ethics can be seen from different direction of business. Business Ethics relates to the need of ethical values in business decisions and plans. Ethics is also relevant in the context of corporate responsibility of an organization. Each organization has its own responsibilities to the society. Business ethics is a feeling of obligation to consider other human beings who are directly and indirectly involved in business activities. Business ethics also relates with good behavior of organization. Business ethics can also be deemed as an organization’s ability to ensure ethical value in its corporate decisions. The business strategy of each organization should depend on their ethical views; as such decisions affect various stakeholders. An organization’s responsibility to these stakeholders differs on the basis of its objectives. Example: An organization’s responsibility to its owner is making maximum profit and minimizing the cost. It further aims to ensure the growth and value of the business, the manager want to satisfy this responsibility at the same time they want to continue other responsibilities to the society, government, customer, employees etc. In this context all managers find themselves placed in a dilemma to take proper decision so that ethical decisions and corporate objectives stay in tandem with each other. This study aims to discuss about the problem of organizations’ social performance and economic performance. Economic performance is dealing with an organization’s main objective like making profit, generating revenue and reducing cost. On the other hand, the social performance of an organization pertains