INTRODUCTION Ethics is concerned with the study of morality and the application of reason to elucidate specific rules and principles that determine right and wrong for a given situation (Crane & Matten, 2010). Since law does not necessarily cover the morality of many controversial issues, moral reflection ought to be performed on any action, regardless of its lawfulness. The growing power of business in today’s society has enabled businesses to significantly impact the world. Hence, business ethics is highly relevant as it could determine whether businesses contribute or cause harm to the society at large. Using ethical theories to guide moral reflection, business ethics can help businesses avoid scandalous conduct that could harm the society.
Introduction “Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of the life of the workforce and their families as well as of the local community and the society at large” Source: World Business Council for Sustainable Development This research paper will try to investigate areas in which companies have struggled to uphold their responsibilities and develop ideas on how management can successfully implement a more effective model of social responsibility and ethical code. Social Responsibility has become an important part of any business. Almost every business or corporation has
Importance of ethics in the business world is superlative and global. New trends and issues arise on a daily basis which may create an important burden to organizations and end consumers. Nowadays, the need for proper ethical behavior within
In today’s business world, organizations have an effect on many people especially in the working class of our society. They have an obligation to their employee, customers, society and the world to set a good sample of an ethical environment. It is their responsibility to conduct business in a way that is not harmful and which positively benefits as many people as possible and themselves. Although this sounds simple, and it is easier said than done, as there will always be a conflict of interest between various groups of people or organization. Any decision made by businesses need to be made with an educated awareness of the precise situation and then act according to some sort of system of principals which is ‘Business Ethics’.
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Making profit is no longer an important issue in the current market. Rather, ethics in business are becoming highly important for domestic and global companies to meet the expectations of consumers, employees, Non-governmental organizations and other interest groups. As a result to these developments, companies are in competition to adopt good codes of conducts called (CSR) corporate social responsibility which tells consumers and other pressuring groups that a corporate has a good standard of social and environmental system as well as the health and safety procedures (Peterson and Anderson 2006). In the following lines, the article will introduce the definition of (CSR), the strengths, limitations and challenges facing the national and international CSR system, and the impact of these strengths, limitations and challenges on both suppliers and retailers network. The case study will focus on some concerns raised by media and NGOs in the global supply chains.