Ethics Of The Sarbanes Oxley ( Sox ) Act Of 2002

859 Words4 Pages
In the recent years, many businesses have taken a closer look at how the business ethics can either hinder the business or assist them in the growth or sustainability of the business. Examining the different variables of how ethics places into the business’s social responsibilities, and their sustainably organizational strategy and business model. Along with this, both internal and external stakeholders have a part in the influence of the business’s strategy. Although there are many influences to how ethical the business is, many businesses have become more ethically sound after the introduction of the Sarbanes-Oxley (SOX) Act of 2002, which deals with the accounting side of the business (Bateman & Snell, 2011). Every item discussed above plays into the ethics of business and how they relate to the organizational strategy and business model. This paper will discuss the ethical practices within the business. Ethics in relation to Strategy and Model Ethics is in many areas of business and how it can relate to the businesses strategy, and the business model. Ethics is as simple as right and wrong, but there is more to it than that, it also includes the way business should conduct itself, how individuals conduct themselves, this relates to the morals of the business and individuals in the business. The social responsibilities of business include ethics, along with discretionary, and these have an influence on the business strategy and model (Hunger & Wheelen, 2011). Business must take into consideration their social responsibility when distinguishing their strategy and model so that the business can know and understand what it is they should do apart from what it is they must and have to do. This helps with the businesses sustainabili... ... middle of paper ... ...ial Responsibility at the Core,” making TOMS one of those companies. Conclusion A business must consider many items when they are working through their businesses strategy and model, and the stakeholders. These items are the ethical responsibilities of the company, which are to conduct themselves to a high moral standard. In addition, to be socially responsibly with all parties involved. Also, creating and maintaining business sustainability, in a moral manner when also conducting the strategy and model. Finally, taking into consideration the businesses primary and secondary stakeholders. They influence the businesses strategy and model of conducting business. Taking into consideration all of these items, ethics is at the root of each of them and maintaining ethical standards, a business will succeed and maintain their spot in their area of business as TOMS is doing.

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