Corporate Social Responsibility (CSR), And Ethics

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This literature review will focus attention to how people expect a corporation to succeed in modern times and what influence people can have over a business purpose, (Johnson, Scholes, & Whittington, 2005). Two of the expectations that will be reviewed are Corporate Social Responsibility (CSR) and Ethics. Corporate Social Responsibility (CSR) is the commitment by organizations to ‘behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as the local community and society at large’, (Lecture Notes). The idea of social responsibilities supposes that the corporation has not only economic and legal obligations but also certain responsibilities to society, which extend…show more content…
Business ethics crosses path with the connection between corporation’s future achievements and approaches to specifically human ends (Tran, 2008). It dedicates the special responsibilities, which a person consent to when they becomes a part of the business envormnet . Business ethics is outlined by Preuss (2008) as part of a “veritable explosion of concepts that aim to explain what the proper role of business in society should be,” explaining such terms as corporate citizenship, corporate social responsibility (CSR), triple bottom line, and sustainability. Ethics of justice comes round such notions as rationality, rights, and justice, while ethics of duty is relied on consideration, sentiments, and responsibility duties (Plot, 2009). Ethics of care is focused on ethics from an individual rights to relations prerequisites (French and Weis, 2000). That the identity of one self who is predicated on the caring relationships the self has with others, serves as the basis for ethics of care (Lantos, 2002). Ethics of care is a way to sustain the focus of the process on people rather than on policies (Begley,…show more content…
Freeman (1970) stated that there is “one and only one social responsibility of business, to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud”. Similarly it is debated that managers are masters in finance, marketing, operations and business management (Calabrese et al., 2005; Costa and Evangelista, 2008; Costa, 2012). Essentially they do not have the required tools to perform certain skills and competences to address social and environmental problems, (Davis, 1973; Mintzberg, 1983). Therefore a matter of concern with CSR is that it might split businesses from their required interets in the business main focus and activities and consequently downgrade organizational performance outcomes, gearing up the company into a risky situation where they might face bankruptcy and increase the chances in management engaging in unpredictable behaviors, (Hayek,

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