Today many companies are facing diverse problems in the field of ethics and social responsibilities. Some of the ethics challenges include bribery and technology or copyright theft. Social responsibility challenges include lack of enough finances and high expectation from the society. The management must always strife to address these issues by curbing or minimizing them.
Bribery is whereby some employees receive a form of illegal payment either in kind or monetary terms. The issue of giving and taking of bribes hinders development and growth of companies since through it employee who are not qualified are hired and hence high chances of reducing the company’s output. Copyright theft is where another company illegally uses other company’s trademark. This is an ethical problem since when the trademark is used for illegal dealings; the company is left to blame. In most cases the employees or some of the top management officials are the ones involved in these dealings (Ethical problems encountered by U.S. small businesses in international marketing, 1991).
For a company to undertake it’s cooperate social responsibility, it must have adequate finances. Today companies are driven by the target set by its stakeholders and in most cases the budget for the social responsibility is not included. This leaves the management with financial strain in trying to maximize the profits and on the same time serving the society. The company may also the challenge of high expectation from the society. The society in which a company operates expects the company to solve some of their social problems without taking into account what the company benefits from them or the actual earning of the company (Matten, 2004).
Management through its role in planning and organizing should put all mechanism in addressing social responsibility issues. It should actively incorporate the society in its day to day operation either by releasing final audit to the stakeholders, or it should sell some shares to the immediate society which will ensure that the society is involved in its operations. To address ethical issues the management must provide ethical training to the employees, hire individuals with ethical standards, providing the individuals facing ethical dilemmas with protection and finally by being good examples.