Corporate social responsibility is a diverse term utilized by current business activists in order to define the relation of employers with other colleagues, with society and with the core activities of the organization that can benefice people and society in one way or other. Fundamentally, Corporate Social Responsibility has been illustrated as a commitment which organizations do with society in order to develop the region economically in which it used to do its core business activities. (Idowu, Filho, 2009) Today, no business can touch the apex of success until it develops proper CSR and ethical strategy. Hence, ethics and CSR has closed relation since both of these components involve human resource and their attitude towards society and other factors.
CSR and Ethics:
Ethics is regarded particular way of behavior of an individual towards society or some other individuals. Similarly, Business ethics indicate the attitude of an organization towards business and social matters. It is especially concerned with the issues related to ethical and moral values of that particular organization. (Chryssides, Kaler, 1993) Hence, it can be stated that business ethics is something related to the situation, decision and activities which the organization management take while keeping the ethical values under consideration, contemplating these aspects from the perspective of right and wrong.
Ethics and CSR have strong interrelationship with each other since without complying with ethical codes, no organization or individual can come up with the standards of corporate social responsibility. Hence, today, for the success of an organization, it is mandatory to develop effective CSR policy and for that purpose, it needs to develop an authentic ethical policy as well.
Keeping all these factors under consideration, the elements of CSR and ethics can be categorized in two different parts.
From business perspective, Personal ethics...