Moral and Social Dimensions of Management

Abstract

An organization's morality is not a stand-alone field; rather it needs to be woven in every level of the business. In today's competitive society, organizations are torn between the drive to increase profits, thereby pleasing shareholders and the desire to act ethically, which satisfies buyers and other stakeholders. Freedom and wealth are two major factors involved when organizations are faced with conflicting decisions regarding ethics and economics. Wealth is a means to achievement and freedom, not an end in itself. As a result, organizations can achieve both profitability and fairness through ethical business practices. Organizations must practice restraint when tempted by short term gains and remain focused on long term profits that can result from ethical behavior. Over viewing the uncompromising world of business and trade, it has been very important to study the moral and social dimensions through the perspective of the four functional areas of management.