Business Management (Social Responsibility and Ethics ) Essay

Business Management (Social Responsibility and Ethics ) - Essay Example As a result, several business ethics theories have been developed. It is worth noting that accurate guidance of ethical principles is quite fundamental if business ethics is to comprise of a substantive discipline (Green 2004). The quest for such business ethics principles has given birth to a number of theories which have been tailored to suit the business environment. For the purpose of this paper, only two of these theories will be discussed. In addition, this paper will provide a basic definition of corporate stakeholder groups as well as corporate social responsibility and thereafter, the paper will describe how the relationship between a corporation and at least two of its stakeholder groups can be managed through corporate social responsibility activities. The paper will also anticipate some potential conflicts which might occur in the process of management. Business management has undoubtedly taken a new shape due to stiff competition in the business field. Business management generally involves getting all the concerned individuals together to bring about desired business goals and objectives. In basic terms, business management consist of planning, organizing staffing as well as directing a group of persons with an aim of accomplishing the desired goals of a business. Due to the undying quest for corporations to compete effectively and gain high rates of return, Corporate Social Responsibility (CSR) is becoming an essential or else a fundamental activity to businesses globally. Now that the world is increasingly becoming a global village and large business organisations serve as global providers, they (corporations) are increasingly acknowledging the benefits of making available Corporate Social Responsibility programs in their every division of the organisation. It is quite worthwhile to note that there is an increasing recognition of the immense contribution of the private sector on the society. The