Business Ethics: A Dimension Of Social Responsibility

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Introduction • Freeman et al (2004) state “Stakeholder theory begins with the assumption that values are necessarily and explicitly a part of doing business” (Freeman et al 2004). • This is a simple proposition that CSR is an implicit division of business ethics. • This context simply defines social responsibility as a mere recognition of corporate duties and the implied relationship that exists between businesses and the external environment that set in motion its performance and existence. Business ethics Definition: Business Ethics constitutes principles, values, and standards that channel behavior in today’s business word.  Principles: specific and comprehensive boundaries for behavior which are universal and absolute.  Values:…show more content…
• However this kind of obligation does not need credibility although it is viewed as an important corporate concern. “Happy it is for me to be in a situation in which, while their passions inspire in them the thought of being wicked, it is nevertheless, to their interest not to be.” -MONTESQUIEU Business Ethics as a Dimension of Social Responsibility Social responsibility as a branch in Business Ethics represent standards, norms, values and expectations that reflect a major concern of major business stakeholders, including customers, employees, shareholders, competitors and the community. • This is a valid reflection of how business ethics can be tied to social responsibility. ISO 26000 (a body that promotes worldwide proprietary, industrial and commercial standards) provides guidance on how businesses or organizations can operate in a socially responsible and acceptable way. This means acting in an ethical and transparent way that contributes to the dynamism and welfare of society. • This translates to the basic understanding of business ethics, which is provision of guidance rather than…show more content…
However, most companies have started to take regard of the benefits of being a socially approved business entity by exercising this duty. • Some of the values include, sharing (giving discounts to customers), promoting the social welfare through activities that bring about a better environment or through other practices that provide a description of a socially responsible business. • Examples include; drilling boreholes, rehabilitating roads, cleaning the environment, employing citizens, or providing scholarships. The Kenyan Context • In recent times, the Kenya Bureau of Standards (KeBS) has been involved in coming up with guidelines on CSR. • These standards along those that companies have voluntarily created and adopted including International Standards Organization (ISO) standards form a static level against which corporate social responsibility is measured. • In addition to these efforts, other recent contributions to CSR in the country include the Global Compact and the United Nations' Norms on the Responsibilities of Transnational Corporations, and Other Business Enterprises with Regard to Human

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