Business Ethics

10 Pages 2448 Words

problems. Large success breed large expectations, but the small businessperson is also responsible to society.
Another reason for the demands and expectations placed on business has to do with the traditional and natural expectations of business and the natural demands that societies have always made on their richest and most powerful citizens. Wealthy warriors and kings have always been expected to make large contributions to the societies they control and making these contributions is in their interest. If they choose to maintain their power then they must meet the expectations of their subjects or they will find themselves ousted and replaced with more benevolent rulers who will meet the needs of the people. Whether measured by visibility, financial resources, or political power, there is hardly another American institution to match it that is not another corporation closely allied with major corporations.
Social responsibility encompasses an ever-expanding circle of concerns, This expansion reflects the success and importance of business in today's society. When business represented but a small part of society, like Adam Smith's, "nation of shopkeepers," the responsibilities of business consisted of businessmen doing what they were supposed to do well and honestly-produce quality products and services, provide jobs for the community, and earn a fair return for the owners and investors. However, as industry expanded and technologies became more diverse, concerns for the environment and conservation of natural resources became essential corporate responsibilities. As consumerism became central, if not the central, identity of society, product safety and consumer relations became responsibilities. There will always be a debate about where the line should be drawn, but one thing is clear: the more powerful business becomes in the world, the more responsibility for the well-being of the world it will be expected to bear.
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