The Importance Of Ethics And Social Responsibilities Of A Business Organisation

Project and Seminar Topics with material for Banking and Finance

The Importance Of Ethics And Social Responsibilities Of A Business Organisation


Abstract


This project is taking about the important of Ethics and Social responsibilities to a business organization.In fact Ethics and Social responsibilities is very vital to every business organization and society as a whole. The modern business organization have realized the importance and are now making use of such importance to expand their business enterprise.It is only the ignorant business organizations that still run away from ethics and social responsibilities. And such importance are continuous existence of business, more customers, profitability and better environment etc. Data for this study were collected through questionnaire administered to the entire 200 staffs of the Champion Breweries Company Uyo, AkwaIbom State. The primary data was employed to a large extent that the analysis of data recommendation and conclusion were drawn from them. Secondary data were from library and periodicals. It was discovered that there have been complaints of unethical practices by salesmen of the company, Also it was confirmed that the environment is affected by the operation of the company in such like waste management and air pollution.


Chapter One


Introduction

1.1 Background of the Study

The critical concern of every society has been the ethical and social responsibilities of businessmen and their organizations. Each society strives to ensure that those who engage in any form of business are always moral in their daily activities. These two words are twin’s concept (Ethical and social responsibilities) that focuses on the moral conscience of business. The concept of ethical responsibility has to do with those issues and problems that are pertaining to business people’s loyalty to their organizations are as well as their customers. While social responsibility on the other hand concerns to the problems, interests and needs of the society of larger. It is carryout the most obligations and duties of business to the society at large.

Therefore, it is of first interest that anybody or organization that engages in any form of business ranging from manufacturing to agriculture and soon should be ethical and socially responsible to the society and the environment where he exists and do business. This therefore means a solid foundation for continuous existence and customer’s relation, as well as a satisfied society.

The importance of ethical and social responsibility to business and organization is vital to a lot of areas in the organization and also to policy formulation and organizational objectives.

However, customers, the society and government don’t take it legally with the unethical business conduct and lack of social responsibility of business organization, it is seriously affecting them. This had led to a lot of companies and organizations being short down and customers drain. Government now takes it seriously with business organizations namely out spillage, by oil companies, air pollution by manufacturing companies, water and noise pollution just to mention a few.

Therefore, business has to composite to find ways to prevent the above mentioned traits to likes and properties in the society.

Business have revised their ribs and duties to the society and are now living up to that responsibilities. But most business organizations have adopted this doctrines of social and ethical responsibilities to the general public as well as the society where they operate. This doctrines appeals to the consistence of business people to the intent that they might meet the expectations of those who are affected by their actions.

There are laid down rules that govern every profession. In enabling us understand what “ethics” actually means, we shall quickly look at the following phenomena that could rapidly be misconceived as ethics. We are referring to such phenomena as law and morality: Laws are laid down rules made by administrations, communities, governments etc. And the motives of these laws are primarily to regulate or check discrepancies or misconduct as may be observed in human character or behavior. Summarily; laws improves human character, which when absent could bring about disorderliness and chaos.

Morality on the other hand is related to the opinion principal of good and evil as it affect human conduct. It comes from the mind to differentiate the good from evil. We can in other words refer to morals as love and ethical virtues. Finally morals involves individual character considered by the winning standard of moral honesty.

Ethics has been defined as the principal of right and wrong conduct by the American heritage dictionary (second college edition). It is also the general study of the entire nature of morals and the specific moral choices made by a person as it affect his relationship with his fellow individuals.

Those used in an organization in achieving its objectives, makes up the workforce of that organization and also of competence of any organizational objectives.

A very high level of performance and efficiency has to be attained by the staff as a workforce: Efficiency is a function of so many different factors like, political, social, societal and economical, just to mention but a few. The staff is an essential factor of production in any given establishment since their proficiency and contributions can either promote or demote the efficiency of an establishment. In the eyes of an ordinary person, a staff could be considered as a group of individual or persons that operate in an establishment in order to achieve a common purpose. They also indulge in accounting, managerial and clerical functions.

A good staff is one that uses his intellect and positive opinions to make suitable decision not beyond the scope of approved governance without having to be monitored and also with a reasonable degree of moral standards.
Members of every professions are being guided by some codes of conducts; such professions include, Lawyers, Doctors, Customs, etc. There are some ethical conducts that are written down on paper, whereas others are verbal or unwritten. The said rules are made known to the members of a particular profession. To be ethical means, keeping these rules in your relationship with your fellow staff whereas, to be in ethical means not abiding by these rules.

Social and ethical obligations are concepts that concentrate o the conscience of business managers as an image-maker of an establishment with the outside world. This is normally achieved by the reasonable use of telephones, faxes, letters, etc. To an extent, this encourages positive public reaction towards the organization depending on the moral character of the staff. It is therefore of interest that since the staff engage in various forms of business administration ranging from agriculture to production and manufacturing, they should be socially and morally obligated to the community where they operate so as to excel in their operations.


1.2 Statement of the Problem

An office personnel should be a mirror through which an organization restructures its duties and functions. This implies that the personnel should portray the good image of the said organization, since high social responsibilities and moral demand are expected from them. The quality of services rendered by the staff can be influenced by the environment where they operate. The environmental situation can be changed if its moral status is low, but on the other hand, the staff should be encouraged to adapt to the environmental standards if its moral status is encouraging.

So an organization should have a dynamic social responsibility to enable it influence its environmental positively for viability and stability. The objective of every organization should be to maintain a worthy inter-relationship amongst its staff, the organize person and its environment in order to enhance cordial outcome. Finally; the organization that it exists.


1.3 Purpose of the Study

The objectives of this study is to ascertain the extent of social obligation and ethics of the staff of – instance bank. These includes the following:

  1. To know if there is a proof that production companies is ethically and socially responsible.
  2. If the production companies has any inadequacy that stops them from being ethically and socially responsible.
  3. To know if these problems bring set back in the workers productivity.
  4. To know if there have been any case of compliant of unethical practices by the staffs in your company.
  5. If the company benefits from being ethically and socially responsible
  6. To know if ethics training is provided for top management, middle management, supervisors and other employees, if the training is very important or significant in the operation or function of the organization.

1.4 Research Questions

  1. Are there any proof that production companies is ethically and socially responsible?
  2. Has your company any inadequacy that stops them from being ethically and socially responsible?
  3. Do ethical problems bring set-back in the workers productivity in the company?
  4. Has there been any case of compliant of unethical practices by the staffs in your company?
  5. Does your company benefits from being ethically and socially responsible?
  6. Is ethics training provided for top management, middle management, supervisors and other employee, if it is very important or significant in the operation or function of the organization?

1.5 Significance of the Study

This project is geared towards serving some useful purposes and everything that can be done, will be done to ensure that these objectives are not defected. The advantages of this project that makes it obviously imperative are as follows: To support the promotion of productivity especially where the ethics of business profession is adhered to suit us organizational motive. To indicate to controlling authorities, essential areas and shortcomings that needs necessary attention. This work will support the education of every top management, of the ethics desired of them.


1.6 Scope and Limitations of the Study

This study covers the importance of ethics and responsibilities to a business organization in Nigeria, but particularly focused on Champion Breweries Company, Uyo in AkwaIbom State. In the cause of the study, the researcher encounters some limitations which limited the scope of the study;

Staff Reluctance:

In most cases the staffs of Champion Breweries CompanyUyo, often feels reluctance over providing required information required by the researcher. This result in finding information where the structured questionnaires could not point out.

Researcher’s Commitment:

The researcher, being of full time student spent most of her time on other academic activities such as test, class work, assignment, examination etc which takes average focus from this study.

Inadequate Materials:

Scarcity of material is also another hindrance. The researcher finds it difficult to long hands in several required material which could contribute immensely to the success of this research work.

Financial Constraint:

Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).


1.7 Definition of Terms

Productivity:

An estimated rate of work

Organization:

A place where business is transacted

Law:

The rule made by given society, groups etc

Morality:

Is the judgment principle of right and wrong

Productivity:

This refers to an estimated rate of work. It also means the rate at which goods are produced, compared with the work, time and money needed to produce them.

Organisation:

It means a group, such as a clubor business that is formed for a particular purpose. It also means the act of planning and arranging things effectively.

Law:

This is a whole system of rules that citizens of a country, an organization or a particular community should obey and abide by.

Morality:

Morality deals with the principles of right and wrong behaviour. It consists of all behaviour, which conforms to the social standards of a society, which is carried out voluntarily by the individual.

Management:

This refers to the act or skill of directing and organizing the work or performance of a company or an organization effectively.

Competence:

This is the ability and skill to execute a job properly or the skill required to undertake a particular assignment.

Environment:

This refers to all the situations, circumstances, events, people etc that influence the way in which people live, work and operate.Co-operation.


1.8 Organization of the Study

This research work is organized in five chapters, for easy understanding, as follows

  • Chapter one is concern with the introduction, which consist of the (overview, of the study), statement of problem, objectives of the study, research question, significance or the study, research methodology, definition of terms and historical background of the study.
  • Chapter two highlight the theoretical framework on which the study is based, thus the review of related literature.
  • Chapter three deals on the research design and methodology adopted in the study.
  • Chapter four concentrate on the data collection and analysis and presentation of finding.
  • Chapter five gives summary, conclusion, and recommendations made of the study.

Chapter Five


Summary Conclusion and Recommendations

5.1 Introduction

It is pertinent to note that this research was aimed at finding out the positive impacts of ethics and social responsibilities to business organizations, thus the topic “the importance of ethics and responsibilities to a business organization”.

In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges associated with ethics and responsibilities to a business organization in Nigeria.


5.2 Summary

Its importance to note that this study was to examine the importance of ethics and responsibilities to a business organization, the following findings were derived in the course this research.

  1. It was discovered that an organization’s relationship to its environment and the organization interpretation, truth, human nature and human relationship are the ethical dimension that shape the organization culture.
  2. The findings of the study revealed that, trust is the multifaceted, essential ingredient that serves as a lubricant for all operations and values in organizations, without trust in organizations and among people, organizational values and relationships erode and crumble.
  3. Each organizational culture adaptability, mission, clan, and bureaucratic has the potential to be successful if the strategic plans that relate to the desired culture are accomplished and maintained.
  4. It is also seen that the practices of ethics and social responsibility by the companies in Uyo Metropolis is generally low.
  5. There is no other factor other than ethical consideration that stimulated the manufacturing companies in Uyo Metropolis to be socially responsible.

5.3 Conclusion

The essential truth to be grasped from this study the importance of ethics and social responsibilities to a business organization is that conversely, good ethics pays over the long run and that the benefits of good ethics actually far outweigh the costs. Good ethical practices may not be easy to maintain no doubt, as ethical issues have posed major challenges to organizations in recent years and there will undoubtedly be more in the future. However, with a well-designed ethics policy, ethical leadership and implementing ethics into organizational strategies and processes, it will make it easier. It is suggested that strong leaders model should be passed on ethical aspects of the culture and adopting techniques like structure, decision-making processes, rewards, norms, heroes, stories, rituals and other artifacts to create a strong culture. This is the foundation for creating a culture of character, where members of the organization “know what is right, value what is right, and do what is right.”


5.4 Recommendations

Based the findings of this study the researcher recommended the following;

  1. Manufacturing companies should see ethics and social responsibility as a marketing tool or strategy for marketing their products in order to achieve sales profit, customer’s satisfaction, maximization of shareholders return, stakeholder’s satisfaction and image promotion in the face of potential employees.
  2. That champions breweries and other breweries in Nigeria should employ more logical methods of delivering their corporate social responsibility practices in the country.
  3. That the ethics and social responsibility of the companies should be more environmentally demanded rather than Marjory from angle of ethical consideration and philanthropic obligations.
  4. Organizations can manage ethics in their workplaces by establishing ethics management programs that convey their corporate values, codes and policies to guide decisions and behavior.
  5. There is need for training on the ethical code which may include the values, codes, and standards of the organization. In addition, every employee wants to be part of an organization where they are recognized and made aware of the truth and what is going on, particularly in crisis situations.

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