Business Ethics Essay Example | Topics and Well Written Essays - 2500 words - 7

Business morals - Essay ExampleSocial responsibility according to Ferrell & Ferrell 2014, p.30) refers to the obligations of an organization to ensure it substantiatingly affects the society sm exclusively-arm minimizing its negative impacts on the society. It is worthwhile to note that although the terms ethics and social responsibility are much used interchangeably, they do not have a similar meaning. Social responsibility is a everyday concept that relates to the impact of entire organizations activities on the society, whereas air ethics is linked to a work group or an individuals decisions that the society evaluates as right or handle (Ferrell & Ferrell 2014, p.30).Bank Muscat is the flagship financial institution in Oman with a proven record of accomplishment of excellence in service. The bank enjoys a 40% market share in Oman. The banks boss office is in Muscat, Oman and it has an extensive network of branches throughout Oman. Additionally, the bank operates directly and indirectly in all six Gulf Cooperation Countries states, a representative office in Singapore that focuses on trade business sector and financial institutions, and an associate in a securities company in India. The bank is publicly listed as a joint stock company on the Muscat Securities Market as well as on the Luxembourg Stock Exchange (Bank Muscat 2012, p.14).Bank Muscat is the pi oneer bank in Oman to tag up a fully functional Corporate Social Responsibility (CSR) department. The organization considers CSR as one of its central values, and the banks CSR policy is founded on a strong belief in the positive significance of CSR. The banks CSR policy reflects its care and concern for various segments of the society. Bank Muscat does not view social responsibility as mere involvement in charitable activities and organizing voluntary programs, barely responsibility for the overall societys development (Bank Muscat 2011, p.15).The objectives of this paper are to explore the conc epts of business ethics