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This is because businesses are operating in a society with structured moral values. Hence, when businesses are conducting their operations,…
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Extract of sample "XMGT / DISCUSSION 2 QUESTIONS WK1"

Ethics can be defined as the of behavior that is accepted; moreover, ethical factors should be taken into consideration by businesses. This is because businesses are operating in a society with structured moral values. Hence, when businesses are conducting their operations, there is need for them to offer given responsibilities to the society besides just providing them with goods and services. In addition, businesses always attempt to increase their sales volume by engaging in promotional activities that are misleading to the customers. Occasionally, the message being conveyed may not provide accurate product details (Fisher and Lovell, 2006). However, several businesses participate in corrupt practices like selling goods that are of low standards. They do this through bribing government officials in order to continue operating (Fisher and Lovell, 2006).
Corporate social responsibility refers to a commitment, away from the one that is needed by the regulations as well as economics, for organizations to achieve their goals. Moreover, social responsibility is also a continued commitment by organizations to conduct themselves ethically. It also enables organizations to participate in economic development as they improve the life’s quality for their employees, their families as well as the quality life of the neighboring community. Therefore, social responsibility is also concerned with how organizations manage their businesses in order to have significant positive contributions to the society (Lawrence and Weber, 2008).
In addition, corporate social responsibility involves conducting business ethically with the community’s interest at heart. It entails positive response to the surfacing societal priorities as well as expectations. Moreover, it also involves balancing the interests of shareholder against those of the larger community.
CSR and business ethics are two different things; however, both concepts deal with objectives and values with different intentions other than making profits. However, it should, be noted that when a firm is socially responsible, they have to act ethically (Du, and Bhattacharya, et al, 2007). In conclusion, it should be noted that ethics majorly deals with individual actions that may be evaluated as being wrong or right in comparison to the moral principles.
Du, S., C. B. Bhattacharya, et al. (2007). "Reaping relational rewards from corporate social
Fisher, C. and Lovell, A. (2006). Business Ethics and Values: Individual, Corporate and
International Perspectives. 2nd Edition. Harlow, UK: Prentice Hall/Financial Times.
Lawrence, A.T., and Weber, J. (2008). Business & Society – Stakeholders, Ethics,
Marketing 24(3): 224-241. Public Policy. 12th Edition. McGraw-Hill
responsibility: The role of competitive positioning." International Journal of Research in Read More
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