Importance of Ethics and Social Responsibility

In a situation where an employee works as a bank teller and is faced with a financial crisis, this person can do two things; steal or not. For practicality, he can steal the money from the bank and just go hide, or he can manipulate the transaction and pretend that nothing happened. But, if this person has ethical values and cares about the society, he will never resort to stealing. This scenario directly describes how a certain person can affect the society by his own actions. Without the presence of ethics and social responsibility in place, no society will have a peaceful living.


Building Stronger Ethics and Social Responsibility in a Workplace


A profitable business can either be through ethical or unethical practice. Being the boss, you can convince your subordinates to only do good or the other way around. You can be compensated higher than what you’ve worked for but is your conscience clear? Have you not done anything to benefit yourself and sacrifice others? A healthy workplace observes ethical values and these values create social responsibility. Human Resource department in a business is one very important support system because they can put up rules and regulations for employees to abide by.


Effects of Ethics and Social Responsibility in the Economy


How do ethics affect the growth of the economy? According to some philosophers, they describe ethics as the “science of conduct”. As long as you do the right thing according to the moral principle, then you are ethical, or are you really? Being ethical is vague but choosing to be ethical depends on the person. Consultants Doug Wallace and Jon Pekel of the Twin Cities explain that ethics include the fundamental ground rules by which we live our lives. If this is practiced by everyone, economy will continue to rise because people won’t be focused on their own welfare but of the society as a whole.


Can you imagine a community where the seller has the monopolistic advantage and takes advantage of it by overpricing? How about those taxpayers who don’t declare their actual income to avoid paying higher taxes? There might be a few of them, but these people significantly affect the social responsibility aspects and eventually affect the movement of the economy. Businesses have the power to sell, but are they selling quality products and services? Are you given what you have paid for as a customer? Ethics and social responsibility affect the business, and it is a domino effect that it also affects the economy and the whole population. There are no standard ways to be ethical. As long as you do it for everybody’s benefit, you are being ethical and fulfil your social responsibility.


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