Responsibilities of Business Organizations

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Responsibilities of Business Organizations

With the rate at which technology is currently growing and the number of competitors available in markets also increasing , responsibilities by firms is obligatory . With all this , it is of great importance to observe issues relating to business ethics with a very keen eye . For businesses to be valued in terms of ethics , they must observe principles related to ethics . This value attached to business ethics can make a business boost its performance and achieve set objectives and goals

(Donaldson Werhane 34 . Customers , employees and employer satisfactions will dictate the type of ethics to be followed in a business

The responsibility of acting ethically lies on the hands of each single person in the organization . Acting ethically means more than adhering to company rules , policies or laws . Everything done counts and constitutes of visibility concerns that must be held high . Some of the business responsibilities expected to be practiced include the following

Legal Systems

It is argued that the law binds the business to its ethics . Milton Friedman the view 's pioneer said that as long as businesses are faced with the obligation of making profits , all its activities should be inline with the country 's legal system . Friedman says that businesses should conform to core rules of both the country of operation and the ethics of the location where the business is located (Donaldson Werhane123

The legal system of a country ensure that firms are regulated from engaging in activities...