SOCIAL, ECONOMICAL AND ETHICAL RESPONSIBILITY OF BUSINESS ETHICS

Business and society must function harmoniously. Business organizations are also social entities. Apart from the fact that they exist and operate within a social framework, various social relationships also develop within the workplace. Working within a group, a team or a department becomes a social activity. Work is an indispensable part of a man’s and woman’s life. This provides him with purchasing power and all the necessities and luxuries of life, but also because it provides him with an opportunity for self actualization and self development with fulfilling human relationships while working with others. Work is what provides a man with exciting possibilities and endless challenges to develop him mentally, intellectually. Emotionally and spiritually, it gives him his status and recognition in society. But most importantly, it provides him with an opportunity to work with others, to grow with others, to enrich his life through building bonds with others. And that is exactly why; work and business are termed as an extension of the social framework.