Compare and contrast ethics and social responsibility
Maintaining social responsibility within a company ensures the integrity of society and the environment are protected. In this way, there must be a balance between economic growth and the welfare of society and the environment. Businesses should have good business ethics to benefit the entire community or society.
Moreover, scientists, researchers etc.
Even if businesses are more concerned on making profits for the company, it should still have a social responsibility towards its community. Other aspects of corporate social responsibility can vary.
Applying Ethics to a Career in Business Business professionals should have a solid grasp of ethical practices for their careers.
There are also good things in business that are not good for society and this is where business ethics comes in.
Compare and contrast ethics and social responsibility
Some companies have adopted the social entrepreneurship model of business that focuses on applying practical, innovative and sustainable approaches to benefit society. Policies and activities include cause-related marketing marketing programs that combine sales objectives and helping worthy causes , sponsorship connecting worthy causes to a brand or organization for money and corporate philanthropy charitable donations. It is still obliged to perform beneficial activities for society, while business ethics should make a positive move for society. One of the main examples for this is, reducing the pollution in the company, especially if that certain business is the one creating all the pollution. What is good for the society is sometimes not good for the business, and what is good for the business is almost always not good for the society. These include, therefore, living in a peaceful way so that it does not harm other people in a society, and not contributing to destroying the environment, etc. Business is focused on profits but with social responsibility. Therefore, the term corporate social responsibility is used exclusively in the business world and business jargon. However, this does not mean they can do whatever it takes to get that maximum profitability. If this equilibrium is maintained, then social responsibility is accomplished. Ethical behaviour is what is good or right. Currently, the Achuar and their home are in danger because of our addiction to crude oil. Moral values that are inherent in society create a distinction between right and wrong. However, there is a difference between business ethics and social responsibility and corporate social responsibility.
Hence, in general, it means individuals and social entities such as societies, organizations, and companies have a duty to act in the best interests of their environments and society as a whole.
What is the difference between social responsibility and business ethics quizlet
Consumers interact with the brands and people in a business, and these exchanges affect the success of the business. Business Ethics Before we move to business ethics, we need to spell out clearly the word ethics. Social responsibility can happen in both passive and active way such as by avoiding engaging in socially and environmentally harmful acts passive manner and by performing activities that directly advance environmental sustainability active manner. It applies to the production, distribution, marketing, sale and consumption of goods and services. Relating Business Ethics and Social Responsibility Business leaders and organizations can examine how their decisions relate to social responsibility, which is a general concept that can include social as well as cultural, economic and environmental issues. Reference: 1. Some sources provide similar definitions for the two terms, but corporate social responsibility is a specific business approach that began in the s and s , with definitions expanding in the ensuing decades. Policies and activities include cause-related marketing marketing programs that combine sales objectives and helping worthy causes , sponsorship connecting worthy causes to a brand or organization for money and corporate philanthropy charitable donations. There is a significant difference between social responsibility and business ethics; and the best way to differentiate the two is by defining both of them. Many people are employed at organizations that sell or provide goods and services.
This is where business ethics and social responsibility comes into the picture. Some organizations engage in corporate social responsibility activities for intrinsic reasons: to help out and make societal contributions.
Relationship between business ethics and corporate social responsibility
More on Social Justice. The theory of social responsibility is built on a system of ethics, in which decisions and actions must be ethically validated before proceeding. Simply put, ethics involves learning what is right or wrong, and then doing the right thing -- but "the right thing" is not nearly as straightforward as conveyed in a great deal of business ethics literature. Social responsibility is more of a policy or an obligation to the community, while business ethics is more of a conscience. These people are least concerned with the bad effects of their business practices and the harm they are doing to the society at large. Business is focused on profits but with social responsibility. Stakeholders include employees, suppliers, customers, communities, the environment, investors and regulators. Unethical business practices can have the opposite effect on customers. A change in this universal mentality is imperative if the Achuar are to survive this threat; in order to do so pandemic social responsibility is essential.
based on 115 review