Evaluation of Business Ethics and Social Responsibility (Research Paper Sample)

Business ethics and social responsibility
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Ethics in the workplace
Chapter 7 is a perfect portrayal of an image of ourselves, at our best or particularly how we are when we act ethically. The basics of learning' right and wrong' are portrayed in many principles, moral values, and business ethics. Business ethics is considered a science of conduct since the moral principle of what is 'right and wrong depends on the situation. Thus, solving ethical dilemmas depends on the situation. What is business ethics? Generally, the chapter stipulates that business ethics is divisive between 'right and wrong' in the workplace with regards to the production of products and delivery of services in an organization. However, Sroka (2015) defines business ethics as the study of appropriate practices regarding potentially controversial topics in the workplace such as discrimination, fiduciary responsibilities, corporate social responsibility and insider bribery. Business ethics is a guiding template for business leaders to solve major ethical dilemmas affecting the business to maintain a stable corporate responsibility. Ethics sensitive business leaders do something regarding the firm's moral compass during crisis and confusion. Managing ethics in the workplace requires the development of the ethics management program. Ethics management uses codes and policies to convey corporate values that create a guide to behaviours during ethical dilemmas. An ethics management program may also entail evaluation and training to reconcile the values to the demands of the organization. Vallance and Elizabeth (1995) write that a complete corporate ethics program must consist of policies and values that directly impact workplace behaviours. The main aim of a corporate ethics program is to balance competing business values and balance them with the core purpose of the business. Businesses need for practical tools and information to manage business values. A code of ethics is one of those tools. Businesses need to uphold the highest possible values in relation to operational ethics. 
DIFFERENT TYPES OF ETHICAL STANDARDS
Deciding what is 'right or wrong' in the workplace is not straightforward. Identifying ethical standards depends on what we base our ethical standards on and, second, how the ethical standards are applied in different organizational settings we face. Ethics are not based on science, feelings, religion or law, but they have sources. The utilitarian approach is the first source of ethical standards. Ethical standards under the utilitarian approach must be aimed at providing maximum good to all parties in the organization. Second, the rights approach suggests that ethics must protect the rights and morals of all people in the workplace. Next, Aristotle's adapted justice and fairness approach deals with equality and fairness of the ethical idea. Moreover, the common good approach suggests that a good community consists of interlocking relationships in the basis of ethical reasoning that display respect, obedience to law and compassion for all. Lastly, the ancient virtue approach details that the full development of humanity starts with ethical actions, and ethical actions must be consistent to specific ideals that display the highest potential of our character (Sroka & Lőrinczy, 2015). Putting them together, firms can decide what is ethical in their individual cases. For my accounting firm, there are various types of ethical standards;
Truthfulness and confidentiality: Truthfulness and confidentiality are essential parts of every day to day accounting practice. Truthfulness entails the responsibility of disclosing the accounting facts to those who deserve the truth. Under this standard, accounting managers are required to disclose the real accounting facts without overstatement or understatement—confidentiality urgencies accountants to conceal information deemed sensitive. Not unless clients have the right to access accounting information, accountants have no permission to disclose it regardless of the demands.