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Business Ethics - Research Paper Example

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In the paper “Business Ethics” the author analyzes the business function as part of the society, and the success of either component affect the others in a relatively proportional manner. He examines the approach by which businesses address the issue of business ethics in line with corporate responsibility. …
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Download file to see previous pages In today's society, it is evidently true that many global companies struggle to survive given the lack of ethics in light of their modus operandi (Hunnicutt, 2009). The literature review of the research, therefore, will aim at outlining CSR not as a constraint, cost or philanthropy but as a source of innovation, opportunity and the acquisition of market leadership through competitive advantages presented by corporate social responsibility.
An organization will experience an increment in customer loyalty and the volume of its sales when it supports CSR activities. Indeed, it happens when consumers feel that the company plays a big role in improving the welfare of the community and they think the best way of rewarding the company is by buying its products and services, thus resulting in an increase in the company’s volume of sales. Research conducted in the UK intimated that organization that support CSR programs have experienced an increase in sales of their products and services. The organizations were also required to satisfy the needs of the customers such as the quality, taste, price and safety (Archie, & Kareem, 2010). In addition, majority of the consumers are willing to purchase products that have a small impact on the environment and they do not buy products from companies that utilize child labor (Militaru, 2006). Also, a strong record of CSR helps to improve clients’ attitudes towards the organization’s products; clients will make more purchases and remain loyal to them. For instance, an estimate of 88 percent people who were interviewed in the Great Britain said they make more purchases from a company that engages in activities that improve the welfare of the society in which it conducts its production process.
Companies that support CSR activities often find it easier to attract and recruit highly qualified and skilled employees, particularly in tight labor markets. ...Download file to see next pagesRead More
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