What is the importance of business ethics and social responsibility in your life?

What is the importance of business ethics and social responsibility in your life?

1. Read the scenario below and use the information to complete your assignment.

Scenario:

Suppose you work for a financial organization, and you have been asked to participate in a focus group. The company is looking to strengthen its ethical culture. Over the past 5 years, the company has grown quickly and branched out to include loans and funding for individuals and large corporations. The staff has grown from 10 to 200 with three locations in New York, Chicago, and Los Angeles.

The leadership team has become aware of questionable ethical practices in the different branches, and before they add more staff, they want to develop consistent ethical policies and practices across the company – including more focus on social responsibility.

2. Each member of the focus group has been asked to research the questions below and then send an email to the company president.

3. Research the following questions and compose the answers as an email to the company president. You can create any details you need to complete the email such as email addresses, employee names, and company name.

4. Your email must include one citation from the lesson at a minimum. Additional sources may be used if you want. Cited sources should make up no more than 10 to 20% of your email message. The balance of the content should be your own words.

All references must be constructed in APA format as noted in Lesson 0.

Your email must contain a Subject Line, Body, and Closing. You also need to consider the audience. Please review Emails (opens in a new tab) for guidance before composing your message.

Email Questions :

Answer the following questions in email format. Be sure to include an appropriate greeting, subject line, and close.

Business Ethics: Explain the concept of business ethics. Do you feel the company needs to adopt a formal Corporate Code of Ethics? Why or why not?
Ethical Challenges: From the challenges identified in the lesson, describe two common ethical challenges your organization may face. Provide steps you recommend to help the organization avoid these challenges.

Socially Responsible: Recommend a socially responsible concept from the lesson you feel the organization should adopt in all locations. How does this approach help develop an ethical culture? Explain your answer.