Business Ethics And Corporate Social Responsibility

Topics: Business ethics, Corporate social responsibility, Social responsibility Pages: 5 (2203 words) Published: August 8, 2015
Business Ethics and Corporate Social Responsibility
|Student’s Name:Renee Giordani |
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|Course Title:Sales Management |
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|Professor:Gene Dichiara |
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|Date: December 09, 2014 |
Business Ethical Behavior & Corporate Social Responsibility: Why Organizations Must Have IT
Corporate Social Responsibility has gradually developed into one of the greatest ethical aspects that have to be adhered to by almost every profit-making organization in order to prove their social sustainability. The term Corporate Social Responsibility (CSR) denotes “the voluntary activities undertaken by a company to operate in an economic, social and environmentally sustainable manner” (“Corporate Social Responsibility”, n.d.). CSR which is also known by the names like strategic philanthropy, corporate citizenship, social responsibility etc, contribute a lot to the maintenance of a good public image of an organization and the process itself is very much important for businesses to make clear before their stakeholders the businesses actual role in the society. Today without being socially responsible a corporation is not going to sustain itself properly and every large business organization today, in order to taste success and secure the social license, must operate in an economically, socially, and environmentally responsible manner adhering to the principles of Corporate Social Responsibility. In this era of globalization and transnationalization firms must operate responsibly in order to sustain their public image and their success. It is noteworthy that as firms take advantage of global opportunities, “there is an increasing understanding that incorporation of responsible practices into investments and operations abroad not only benefits the local economies and communities, but makes good business sense” (“Corporate Social Responsibility”, n.d.). Businesses which are either operating locally or internationally, must keep in mind the fact that the common public somehow know how ethically the organizations are actually operating and thanks to the different forms of media such knowledge is widely available in the context of the present day. If profit-making organizations want to generate profit in a sustainable manner, then they have to be ethical in their approach and in their practices. Ethical business behavior is an important element in every business and today’s corporate giants must emphasize on developing this aspect more and more everyday to retain the faith of the society in which their businesses are being operated. There can be many definitions of business ethics but in a simple form business ethics is “coming to know what is right or wrong in the workplace and doing what’s right – this is in regard to effects of products/services and in relationships with stakeholders” (Gebler, n.d.). So, it can be understood that to be sustainable and to accomplish success today’s organizations must be ethical in their operations and there is a strong relationship between ethical behavior and social responsibility. Corporate Social Responsibility and business ethics are intrinsically related. To provide a precise definition of Corporate Social Responsibility it must be conveyed that it is a “business philosophy which stresses the need for firms to behave as good corporate citizens, not merely obeying the law but conducting their production and marketing activities in a manner which avoids causing environmental pollution or exhausting finite world resources” (Juricek, 2014). It is a fact that CSR includes the approach on the part of an organization to ensure the wellbeing of the society and the stakeholders in an appropriate manner and this is also the working principle of business ethics. In other words it can be said that a socially integrated company “does not limit itself to incorporating in its strategies decisions designed...
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