Definition Of Business Ethics And Corporate Social Responsibility
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1 they partly or entirely benefit society and or general interest and 2 they are not obligated by law.
Definition of business ethics and corporate social responsibility. Many companies use internal csr regulation as a form of moral compass to positively influence the ethical development of their business. In the business world an emerging concern for most firms is corporate social responsibility. Corporate social responsibility csr refers to the self imposed responsibility of companies to society in areas such as the environment the economy employee well being and competition ethics. There is no universally accepted definition of corporate social responsibility according to the journal of business ethics but two features can be used to differentiate corporate social responsibility from other activities.
It is widely accepted as an obligation of modern business. Businesses are faced with many responsibilities including business ethics and social responsibility. Csr goes beyond earning money for shareholders. A look at ethics.
John bosco azigwe aboteyure roger awuni school of business bolgatanga polytechnic p. This lesson will examine both concepts and differentiate between the two. Business ethics and social responsibility ethics is a concept of what is right and what is wrong. The concepts of ethical behavior and corporate social responsibility have come to.
Box 767 u e r ghana abstract. Ethical principles guide individuals behaviors toward moral and immoral activities. Corporate social responsibility refers to the approach that an organization takes in balancing its responsibilities toward di ff erent stakeholders owners employees customers and the communities in which they conduct business when making legal economic ethical and social decisions. Business ethics and corporate social responsibility for business success and growth godfrey adda dr.
It s concerned with protecting the interests. Corporate social responsibility or csr refers to the need for businesses to be good corporate citizens.
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