Business Ethics And Corporate Social Responsibility

Social Responsibility ITC Ltd has worked exremly hard to start several procedures that have led to compliance of the standards of social responsibility. ITC’s dealings within the tobacco industry have contributed to the increase in company revenues and the company has worked towards following the triple bottom line and giving back to society. Most, businesses pay little attention to their social responsibilities and make it part of their overall strategy, instead they concentrate more on financial benefits from the sales of products. Consequently, managing business in a socially responsive manner contributes to the best combination of business success and societal acceptance, trust and loyalty. Giving back to the community in ways that benefits only society such as planting trees to curb pollution and help the environment or using biodegradable materials in packaging can reap financial benefits to a company by building loyalty among the community. The notion of business ethics and corporate social responsibility is becoming a defining concept in all industries worldwide. ITC believes in the Triple Bottom Line philosophy where the performance and perception of a corporation should not be judged only on the basis of its financial statements or revenues, but its environmental and social performance as well. ITC is one of the only companies in the world to be carbon positive, water positive, and conduct solid waste recycling. ITC provides water to areas where water is veryShow MoreRelatedBusiness Ethics And Corporate Social Responsibility Essay1382 Words   |  6 PagesSOLUTION Business Ethics Business ethics are moral principles that guide the way a business behaves. The same principles that determine an individual’s actions also apply to business. Acting in an ethical way involves distinguishing between â€Å"right† and â€Å"wrong† and then making the â€Å"right† choice. It is relatively easy to identify unethical business practices. For example, companies should not use child labor. They should not unlawfully use copyrighted materials and processes. They should not engageRead MoreCorporate Social Responsibility And Business Ethics8391 Words   |  34 Pages CORPORATE SOCIAL RESPONSIBILITY AND BUSINESS ETHICS Final Project Report for Legal Aspects of Management Submitted To Prof. Dr. D.S. Sengar Professor, IIM Lucknow Submitted By Group 9 Abhinav Bansal, PGP31186 Chheda Adarsh Jayesh, PGP31199 Manideep Akarapu, PGP31213 Ritika Srivastava, PGP31226 Surbhi Aggarwal, PGP31239 â€Æ' Table of Contents Executive Summary 3 Acknowledgement 4 Business Ethics 5 Corporate Social Responsibilty 7 CSR Law 7 Crisis Management CSR 10 Read MoreBusiness Ethics and Corporate Social Responsibility756 Words   |  4 PagesBusiness Ethics and Corporate Social Responsibility April Duhon DeVry University The United States has several laws that are intended to further fair, balanced, and competitive business practices. Do you think that such laws are effective? If so, why? If not, why not? The effectiveness of the laws that the United States have that are intended to further fair, balanced, and competitive business practices depends on how ethical a business is. Below I will explain why I do not believe theseRead MoreBusiness Ethics And Corporate Social Responsibility1502 Words   |  7 Pages Nowadays, a business wants to exist and grow in a society, which business ethics and corporate social responsibility are sensitive and crucial objectives, the business should do what is right. Many people agree that business does not exist beyond society, it is a citizenship in the society. Therefore, business has to have many certain obligations and social responsibility. It generally means business have to do something good for the community, making social contribution, and using effectivelyRead MoreBusiness Ethics : Corporate Social Responsibility Essay1675 Words   |  7 PagesSeydina M. Fall E-Business Ethics A corporation must try to avoid egregious negative externalities, must actively promote corporate social responsibility (CSR), and must engage in philanthropy. Let’s take the example of the mining industry, in which 75% of mining companies (diamonds, copper, uranium, cobalt, etc.) are listed on the Toronto Stock Exchange1. For Canada, mining is a source of economic prosperity that brings along with it some risks. To maintain their competitive advantage, it is crucialRead MoreCorporate Social Responsibility : Business Ethics1964 Words   |  8 Pagesfrom the variety of companies that they have the option to endorse. A business can spend millions of dollars on advertising, researching, sampling and surveying customers all of which can be undone by a mistake that ruins their reputation. Corporate social responsibility is a term that has its origins in the 1950s. It refers to â€Å"situations where the firm goes beyond compliance and engages in actions that appear to further som e social good, beyond the interests of the firm and that which is required byRead MoreCorporate, Social Responsibility And Business Ethics1958 Words   |  8 PagesCONCEPTS applied by the organization CAT (based on 3 units-communication skills, ethics and behaviour, goal settings) We did some research online and decided to choose CATERPILLAR as our subject. Its performance is used as an indication to figure out world’s economy today. This is a six sigma company and follows all the quality standards and all the business process discussed in the text book. Thus we have applied our concepts and applications based on the work done by Caterpillar Inc. It is anRead MoreBusiness Ethics and Corporate Social Responsibility Essay722 Words   |  3 PagesEthics are a collection of principles of right conduct that shape the decisions people or organizations make. In a market economy, a business put all possible effort in its own best interest in order to make the best profit. In other hand, businesses are involved each other in that process. It’s ethical in business to do the best possible for your own business without harm the interests or profits to other businesses involved. Ethical behavior is what all carrier people should have in all businessesRead MoreCorporate Social Responsibility : A Business Ethics Stance Essay897 Words   |  4 PagesCorporate Social Responsibility From a business ethics stance â€Å"corporate social responsibility† (Velazquez, 2007, pp. 23), refers to the social interest an organization manifest in the environment it operates. SoftMagic has not seized opportunities from corporate social responsibility. In the U.S., the use of pro-bono activities to develop networking is fundamental considering that multiple leaders of different firms participate and engage in activities that consequently offer an opportunity toRead MoreBusiness Ethics, Corporate Social Responsibility, Integrity, And Integrity1318 Words   |  6 PagesAbstract The success of business now a days is apparent, but recently there is much concern in the business (and in society) literature and in the general press on whether business fulfils its social role responsibly. Business ethics, have been created in recent years as responses to an increasing sense of corporate wrong doing. This essay attempts to discuss what business ethics are for improvement of business behavior to the satisfaction of the â€Å"constituents† of business, i.e. the major stakeholders Business Ethics And Corporate Social Responsibility Nowadays, a business wants to exist and grow in a society, which business ethics and corporate social responsibility are sensitive and crucial objectives, the business should do what is right. Many people agree that business does not exist beyond society, it is a citizenship in the society. Therefore, business has to have many certain obligations and social responsibility. It generally means business have to do something good for the community, making social contribution, and using effectively resources in a way that next generations can continue to use them. Especially, business managers should pay attention not only their companies’ financial aspects, but also their social and environmental contributions. In the past, TideeKleen used to be a famous company in its fields, with strong reputation for social and environment responsibility. Unfortunately, the company hit temporarily financial and reputational issues. Standing among three tough choices, the company should make de cision which satisfies all parties related, helping the company overcome the issue, and bringing the most benefits for the company about financial and reputational aspects. Firstly, what do utilitarian comment about three options? Let’s consider option A, TK could benefit from avoiding legally its responsibility and expenses, increasing in stock price. Furthermore, its stock owners would pass over financially issues. However, the option A harms its creditors, older worker, contaminated site, and theShow MoreRelatedBusiness Ethics And Corporate Social Responsibility Essay1382 Words   |  6 PagesSOLUTION Business Ethics Business ethics are moral principles that guide the way a business behaves. The same principles that determine an individual’s actions also apply to business. Acting in an ethical way involves distinguishing between â€Å"right† and â€Å"wrong† and then making the â€Å"right† choice. It is relatively easy to identify unethical business practices. For example, companies should not use child labor. They should not unlawfully use copyrighted materials and processes. They should not engageRead MoreCorporate Social Responsibility And Business Ethics8391 Words   |  34 Pages CORPORATE SOCIAL RESPONSIBILITY AND BUSINESS ETHICS Final Project Report for Legal Aspects of Management Submitted To Prof. Dr. D.S. Sengar Professor, IIM Lucknow Submitted By Group 9 Abhinav Bansal, PGP31186 Chheda Adarsh Jayesh, PGP31199 Manideep Akarapu, PGP31213 Ritika Srivastava, PGP31226 Surbhi Aggarwal, PGP31239 â€Æ' Table of Contents Executive Summary 3 Acknowledgement 4 Business Ethics 5 Corporate Social Responsibilty 7 CSR Law 7 Crisis Management CSR 10 Read MoreBusiness Ethics and Corporate Social Responsibility756 Words   |  4 PagesBusiness Ethics and Corporate Social Responsibility April Duhon DeVry University The United States has several laws that are intended to further fair, balanced, and competitive business practices. Do you think that such laws are effective? If so, why? If not, why not? The effectiveness of the laws that the United States have that are intended to further fair, balanced, and competitive business practices depends on how ethical a business is. Below I will explain why I do not believe theseRead MoreBusiness Ethics : Corporate Social Responsibility Essay1675 Words   |  7 PagesSeydina M. Fall E-Business Ethics A corporation must try to avoid egregious negative externalities, must actively promote corporate social responsibility (CSR), and must engage in philanthropy. Let’s take the example of the mining industry, in which 75% of mining companies (diamonds, copper, uranium, cobalt, etc.) are listed on the Toronto Stock Exchange1. For Canada, mining is a source of economic prosperity that brings along with it some risks. To maintain their competitive advantage, it is crucialRead MoreBusiness Ethics And Corporate Social Responsibility1512 Words   |  7 PagesSocial Responsibility ITC Ltd has worked exremly hard to start several procedures that have led to compliance of the standards of social responsibility. ITC’s dealings within the tobacco industry have contributed to the increase in company revenues and the company has worked towards following the triple bottom line and giving back to society. Most, businesses pay little attention to their social responsibilities and make it part of their overall strategy, instead they concentrate more on financialRead MoreCorporate Social Responsibility : Business Ethics1964 Words   |  8 Pagesfrom the variety of companies that they have the option to endorse. A business can spend millions of dollars on advertising, researching, sampling and surveying customers all of which can be undone by a mistake that ruins their reputation. Corporate social responsibility is a term that has its origins in the 1950s. It refers to â€Å"situations where the firm goes beyond compliance and engages in actions that appear to fu rther some social good, beyond the interests of the firm and that which is required byRead MoreCorporate, Social Responsibility And Business Ethics1958 Words   |  8 PagesCONCEPTS applied by the organization CAT (based on 3 units-communication skills, ethics and behaviour, goal settings) We did some research online and decided to choose CATERPILLAR as our subject. Its performance is used as an indication to figure out world’s economy today. This is a six sigma company and follows all the quality standards and all the business process discussed in the text book. Thus we have applied our concepts and applications based on the work done by Caterpillar Inc. It is anRead MoreBusiness Ethics and Corporate Social Responsibility Essay722 Words   |  3 PagesEthics are a collection of principles of right conduct that shape the decisions people or organizations make. In a market economy, a business put all possible effort in its own best interest in order to make the best profit. In other hand, businesses are involved each other in that process. It’s ethical in business to do the best possible for your own business without harm the interests or profits to other businesses involved. Ethical behavior is what all carrier people should have in all businessesRead MoreCorporate Social Responsibility : A Business Ethics Stance Essay897 Words   |  4 PagesCorporate Social Responsibility From a business ethics stance â€Å"corporate social responsibility† (Velazquez, 2007, pp. 23), refers to the social interest an organization manifest in the environment it operates. SoftMagic has not seized opportunities from corporate social responsibility. In the U.S., the use of pro-bono activities to develop networking is fundamental considering that multiple leaders of different firms participate and engage in activities that consequently offer an opportunity toRead MoreBusiness Ethics, Corporate Social Responsibility, Integrity, And Integrity1318 Words   |  6 PagesAbstract The success of business now a days is apparent, but recently there is much concern in the business (and in society) literature and in the general press on whether business fulfils its social role responsibly. Business ethics, have been created in recent years as responses to an increasing sense of corporate wrong doing. This essay attempts to discuss what business ethics are for improvement of business behavior to the satisfaction of the â€Å"constituents† of business, i.e. the major stakeholders