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Essay / Research Paper Abstract
A 3 page paper that begins with a report that ethical companies are more profitable than unethical companies. The writer discusses how ethics is involved with the four functions. Enron provides the example for what went wrong ethically and what should have happened. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: ME12_PG4fnmg9.rtf
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Unformatted sample text from the term paper:
or community responsibility are not options, they are requirements. What is interesting is that the literature consistently reports that ethical companies are more profitable than unethical companies (Verschoor, 2003). This
conclusion has been demonstrated in the United Kingdom and in the United States repeatedly (Verschoor, 2003). Corporations may profit when they are acting in an unethical manner but that profit
will be short-lived. To sustain competitive advantage, market share and profits over the long term requires ethical decision making as well as promoting social responsibility by giving back to the
community and acting in the best interest of the community. Adam Smith proposed that corporations become good citizens in spite of themselves. He called it the "invisible hand" (The Concise
Encyclopedia of Economics, 2008). While businesses may operate out of self-interest, which is to gain the highest possible profit, they help the society (The Concise Encyclopedia of Economics, 2008). Businesses
are led by an invisible hand that promotes benefits to the society the business executives may not even realize. In todays corporate world, however, social responsibility is a mandate from
consumers. Ethics and social responsibility are inherently integrated into the four functions of management, which are identified as planning, organizing, directing and controlling (Pakhare, 2007). It should be quickly
explained that controlling has no relationship to authoritarian leadership styles, it is about controlling things such as resources, establishing standards, and assessing performance. In each function, the manager must
make multiple decisions. It is in making these decisions that the manager will demonstrate high standards of ethics and social responsibility or a lack of same. There are many
examples of companies who made unethical decisions. In fact, there has been a flood of them over the last decade or so. While the mistakes and greed of recent downfalls
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