The Importance Of Corporate Social Responsibility In Business

Because society is fundamentally based upon performance and profit, it is necessary to impart a sense of corporate social responsibility with regard to modern commerce. The ethical approaches of purpose, principle and consequence are integral components of business social performance; itemizing these contributions involves incorporating the interests of ethics and morality within the corporate structure. These are essential concepts that are often absent from a managerial standpoint. Corporate social responsibility should exist within every company 's infrastructure; however, social integrity is not something that is often at the forefront of modern day business dealings. Ethics, business and society must work in tandem or there is no purpose for any of its existence. Unethical practices

Not to follow this path would reap severe consequences upon the business that ignored the inherent responsibilities associated with corporate commerce. "The moral argument that helps managers choose among competing duties based upon the best consequences must inevitably oblige managers 'to do that which is best. ' Discussions about stock price movements, instrumental ethics, and shareholder wealth obscure the true moral argument" (Quinn et al, 1995, p. 22). Determining what constitutes values is the fundamental purpose of corporate social responsibility. Given the fact that all of humanity must coexist on the same planet, there has to be a modicum of consideration with regard to business values. If not, then there would be no sense of tolerance or respect for individual life. People have to abide by an ethical code to ensure proper behavior among the world’s population. Yet, again, who is to determine what this corporate ethical code will represent, and who is to say that all commerce must follow it? Clearly, defining ethics is to define man’s proper values and interests, a concept that Beauchamp et al contends must exist within the framework of all business