The paper 'Business Ethics in Corporate Social Responsibility " is an outstanding example of business coursework. Corporate social responsibility (CSR) demonstrates the manner in which companies get to manage their procedures in an effort to ascertain that their activities have positive effects on their stakeholders and also the society at large (Baker 2004). While business executives may desire to have a reason to evade responsibility that can result to cutting into the bottom-line, ethical theorists have come up with various reasons why companies need to get involved in CSR activities (CMI 2007).
In order to give backing to the arguments, ethical theories are very significant. Business ethics has therefore intensely embedded CSR fundamentally in ethical theory. This particular paper argues that businesses have a moral responsibility to society rather than adding value to shareholders. Customarily, CSR has commonly been defined by the use of the philanthropic model. The public debate concerning the virtue of corporate social responsibility (CSR) is filled with rhetoric. On the basis of this viewpoint, it has been recognized that the idea of CSR largely comprises the capability to develop sustainable livelihoods.
Durant (2007) asserts that organizations should have an objective of appearing more ethical than they seem to appear. This perspective was initiated from his portrayal of CSR as a technique that permits companies to put emphasis on reduced profits and social welfare through “ giving back to society. ” It is vital to take note that Durant (2007) is of the view that organizations do not have entitlement to any behaviour that profits the organization and the society with an equal amount. In case Durant’ s (2007) standpoint is precise, then CSR can no longer be viewed as moral.
In any case, these viewpoints can be further explained by the use of a correlation between business ethics and CSR. There are four types of corporate social responsibility, they include, legal, economic, ethical, philanthropic and economic. These four can be illustrated as a pyramid (see Figure 1). Figure 1: four kinds of responsibility, economic, legal, ethical, and philanthropic Business Ethics Business ethics can be described as principles that an organization adopts in its decision-making processes. Three key theories can be used to the assessment of ethics, this include; utilitarian, virtue ethics and Kantian.
These principles or approaches are grounded on ethical necessities that describe or reinforce the relationship that exists between society and business. Fundamentally, they are based on tenets that outline the right deeds or the duties that organizations should undertake in order to create a favourable society (Garriga and Mele 2004; Asgary and Mitschow 2002). Virtue ethics Virtue ethics is based on inspiring the aspirational values of an organization (Durrant 2007). The theory aims at answering the question of what kind of organization business should desire to be.
Virtue ethics also has the objective of developing and categorizing what should be viewed as the moral character, in addition, it also seeks to apply the moral character as the foundation for practices and decisions (Gowdy 2013). The overall notion that underlies virtue is grounded on the fact that an individual or an organization should develop inward character as opposed to relying exclusively on regulations, codes of ethics and external laws (Durrant 2007). On the grounds of this theory, in the event that the character of an entity is good, then the entity’ s decisions and actions will definitely be good.
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