Question

Explain the relevance of business ethics to strategic management practice. Is there a relationship between ethics, corporate social responsibility, and strategic management? Discuss. (PLEASE BE VERY DETAILED)

Answer 1

Yes,

Business ethics (also known as corporate ethics) is a form of professional ethics or ethics that examines professional and psychological principles or issues that may arise in a business environment. One. It applies to all aspects of business behavior and applies to the behavior of individuals and organizations as a whole. These codes of conduct come from individuals, statements of organizations or legal systems. These unethical standards, values, behaviors and practices are the principles that guide the business. They help these companies to better communicate with their stakeholders.

Business ethics refers to the standard design principles, values ​​and standards that govern the activities and behavior of a person in the business unit. Business ethics has two dimensions: standard business ethics or descriptive business ethics. As a corporate and professional practice, the field is primarily standard. Scientists try to understand business behavior using descriptive methods. The scope and volume of business professional issues reflects the interaction of increased profits, problematic behavior, non-economic performance.

Interest in business ethics grew sharply in the 1980s and 1990s, both large corporations and academia. For example, today’s largest corporation, its commitment to promoting underdeveloped values ​​such as ethics and social responsibility constitutionalism.