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Ethical policy, corporate social responsibility and larger social impact (intentional or unintentional) within UBS and the value it creates (or possibly destroys) for the local and/or global community - Essay Example

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Since the 1990s, there has been a growing demand from private and institutional stakeholders for a corporate ethical environment and social accountability (Palmer and Hartley, 2008). This was an indication of a new awareness in the civic society. Consumers, employees and…
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Ethical policy, corporate social responsibility and larger social impact (intentional or unintentional) within UBS and the value it creates (or possibly destroys) for the local and/or global community
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Ethical policy, corporate social responsibility and larger social impact (intentional or unintentional) within UBS and the value it creates (or possibly destroys) for the local and/or global community

Thus, the companies are now evaluated based on the Triple Bottom Line (TBL) principle, which incorporates both economic success and environmental and social efficiency. Companies around the world are now accountable for their performance through environmental and social Reporting. The collapse of giant enterprises like Enron, World Com and Tyco in the USA or Ahold and Parmalat in Europe, moved the focus to business ethics and basic management. The paper considers one very aspect of business ethics that includes social and environmental awareness of an organization. The discussion incorporates how corporate practices can contribute to individual learning and development, and hence bring about awareness about the society and environment. In addition, this would actually help managers better understand and manage their role as managers and lead to more moral behavior in a company. Most organizations do not follow these business ethics. It is usually overlooked, to pursue the most common motive of earning profit at the cost of ethics. Business organizations might be referred as the most efficient economic tools, as they can impact human development and enhance the well being of the entire society. The impact can be global for multi-nationals. (The Aspen Institute’s Business & Society Program, 2007; Slack & Chambers, 2006) How managers see this role and understand their ability is the most important contributing factor and the biggest question about their ethical conduct. Corporate Social Responsibility has been the focus of most organizations.
Corporate social responsibilities include an organization’s policies and measures on issues such as environment, education, regeneration, empowerment, governance and anti-money laundering. (McEwan, 2007, pp.9-10; Mullins, 2007) These social, environmental, and economic impacts of a particular company’s operations and products cannot be studied from the annual report of the company. The CSR report is required to get an ... Read More
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