Advance Business Ethics. The concept of corporate social responsibility (CSR) and how it differs from business ethics


Essay, 2024

8 Pages, Grade: A


Abstract or Introduction

This analysis paper delves into the intricate relationship between corporate social responsibility (CSR) and business ethics, elucidating their definitions, distinctions, benefits, drawbacks, and impacts. Corporate social responsibility encompasses an organization's commitment to integrating environmental and social concerns into its operations and interactions with stakeholders. It stands apart from philanthropy and charity, emphasizing a broader scope of initiatives aimed at achieving a balance between social, environmental, and economic imperatives. On the other hand, business ethics pertains to the ethical decision-making processes within a business, encompassing issues such as workplace discrimination, corporate governance, and insider trading.

This paper explores the benefits of CSR, including enhanced reputation, brand image, stakeholder relations, and employee satisfaction. However, it also scrutinizes the drawbacks, such as resource intensiveness, investor resistance, and potential profitability challenges. Moreover, it highlights the role of organizational values in shaping CSR initiatives and discusses the increasing importance of CSR in the global economy. Drawing from contemporary literature and empirical evidence, this paper provides insights into how CSR and business ethics intersect and influence organizational behavior and performance. It underscores the significance of aligning CSR initiatives with core business values and strategies to foster sustainable development and competitive advantage in today's dynamic business landscape.

Details

Title
Advance Business Ethics. The concept of corporate social responsibility (CSR) and how it differs from business ethics
College
Free University of Berlin  (Business Administration and Management)
Course
Business Management, Marketing
Grade
A
Author
Year
2024
Pages
8
Catalog Number
V1452832
ISBN (eBook)
9783389026588
Language
English
Keywords
Corporate Social Responsibility (CSR), Business Ethics, Ethical Responsibilities, Philanthropy, Environmental Concerns, Social Concerns, Stakeholder Engagement, Business Operations, Ethical Decision Making, Insider Trading, Workplace Discrimination, Corporate Governance, Benefits of CSR, Drawbacks of CSR, Resource Allocation, Investor Resistance, Profitability, Organizational Values, Global Economy, Ethical Standards, Human Rights, Stakeholder Relations, Reputation Management, Best Practices
Quote paper
Armstrong Odiwuor (Author), 2024, Advance Business Ethics. The concept of corporate social responsibility (CSR) and how it differs from business ethics, Munich, GRIN Verlag, https://www.grin.com/document/1452832

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