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ises of many goals put together.

Stakeholders

A Stakeholder in an organization is anyone who gets affected by the actions of the organization as a whole. Stakeholders are the people who would be affected by any endeavor undertaken by the organization and can influence the decision but don’t get directly involved with executing of the work. The types of stakeholders in any organization are discussed beneath.

Primary Stakeholders:

They are known as primary stake holders as they engage with economic transactions with the company.

Employees

They are very driving force of any organization. They form the integral part of the internal stakeholders as the organization would cease to exist without them. The employees are associated with rates of pay, compensation. They are supposedly the most respected stakeholders in an organization as they deal with all the day to day activities of the organization. They are also responsible for truthful communication with the customers.

Secondary Stakeholders:

They are also known as external stockholders of any organization. Although they are not a part of day to day functioning of the organization are affected by the activities of the organization.

Customers:

Customers are the people for whose needs the organization functions for. They are the most valued people of any organization who accept quality products and proper customer care from the employees of the organization. They also require products worth they pay for and hence expect ethical products of the organization. They although do not make a part of the company’s everyday functioning are a very important part of the organization.

Ethical Responsibilities

Ethics is important in all types of businesses-large or small, manufacturing or service. Ethics is above law. It requires behaviour which is socially desirable even if not legally binding. Ethics is a dynamic term and may change over time. Business ethics may be termed as a set of moral standards which people owning and managing business are expected to follow. These standards are meant to govern the conduct of business personnel. Business ethics indicates what is right in relation with manners.

Ethics considerations are as important as any other activity of management in any organization. In the field of morality, personal life is not separate from business life. The social dimensions of business ethics cannot be overlooked because many problems arise from the relationship of business to the broader society. Ethical considerations are significant for every individual in an organization because of the following reasons.

For every individual, job is the centre of life. Unless job values are in harmony with the rest of life, he cannot be a happy and healthy person.

The Modern society is completely dependent on the industrial society. Therefore the values on which businesses function also becomes the values that the society follows.

A business executive must take into consideration the moral and social considerations because these are real motivating factors.

When an organization fails to behave in accordance with the social expectations, it may lose not only its image and market share but its very righ