Social Responsibility and Managerial Ethics Essay

Social Responsibility and Managerial Ethics - Essay Example In this connection, organizations or companies intends considering social responsibility as major initiatives or activities in order to support social causes along with satisfying commitments through corporate social responsibility (Kotler & Lee, 2008). Similarly, managerial ethics are often regarded as the code of moral ideas and values that manage the overall behaviors of an individual. A managerial ethical issue lies in such a situation when the various actions of an organization are observed to have the potential to damage or benefit the stakeholders by creating an impression on their perceived personal values (Draft & Marcic, 2010). Henceforth, in this paper, the importance of social responsibility, various risks that are linked with social responsibility and the important factors in order to overcome those risks will be elaborately discussed followed by a strong conclusion. The main objective of this paper is to make a strong belief that the companies or the organizations shoul d contribute their expensive resources as well as time to supervise their social responsibility. ... It is a part of contemporary managerial ideology which is considered in order to evaluate various decisions, beliefs and actions among others. In context to business operations, a particular organization expects to exercise greater ethical values and perform various responsibilities towards the society (Griifin, 1993). People in the organizations may hold dissimilar views regarding the ethically suitable or unsuitable actions related to a situation which in turn gives rise to ethical conflicts and thus in turn tends to signify the essentiality of managerial ethics and corporate social responsibility (Draft & Marcic, 2010). Social responsibility can be regarded or treated as one of the ethical actions considered by an organization or a company. However, a particular business cannot continue with good performances to a certain extent if it lacks in efficient financial and/or operational strengths. For instance, if the business is making too much loss in expenditures, it eventually inte nds to retrench the production cost that in turn affects the service/product quality hampering customers’ perceived values and leaving the employees jobless. This particular evidence might prove disregarding in relation to social responsibility towards the employees within an organization (Griifin, 1993) Thus, in order to promote a well equipped development within an organization, it is necessary to accept the importance or necessity of social responsibility. The importance of social responsibility is duly considered high because of its assertion towards business in order to enhance economic value, maintain coordination between employees’ work life and personal life, local communities as well as to

Briefly examine the life and work of an entrepreneur (Momofuku Ando), Essay

Briefly examine the life and work of an entrepreneur (Momofuku Ando), analysing the major factors contributing to their success as an entrepreneur, what element - Essay Example Entrepreneurial attitude can be measured in terms of achievement, innovation, personal control, self esteem, and opportunity recognition (Lindsay, 2005). Lindsay further clarifies that innovation includes recognizing and acting upon business activities in new and unique ways. Achievement can be associated with business start-up and growth results, while self-esteem includes self-confidence. Personal control involves individual perceptions of control and influence over business affairs. Creativity is one of the key characteristics of entrepreneurial and part of the innovation process. Momofuku Ando, initially an unsuccessful businessman, was one such entrepreneur who made a break through while watching his wife deep-fry vegetables (Hall, 2007). Ando has dabbled unsuccessfully in business ventures ranging from salt to prefab houses (Beech, 2006). He had been experimenting with a newfangled idea for packaged ramen noodles. While watching his wife he hit upon the idea that fried noodles would turn hard yet be porous enough and soften immediately when dipped in boiling water. This opportunity recognition not only made Ando into a noodle king but also created a multi-billion dollar market for instant noodles. Considered as a classic invention, instant noodles was a gift which saved people hard labor of grinding and chopping for hours to get food ready. This paper will examine the life and work of this entrepreneur analyzing the major factors that contributed to his success. Creativity and innovation is what marked the growth of this entrepreneur. Moved by the death due to starvation in Japan following the World War II, he was inspired to produce a cheap and convenient food (Katayama, 1988). The construction workers with ten minutes between shifts and the salarymen hunched over their desks at midnight needed something, cheap, and fast and filling (Beech 2006). This led to the invention of the instant