Corporate Responsibility and Ethics

Hello sir, I am Nimit Singh. I am from Junagarh. I want you to help me by giving me some information about the corporate social responsibility (CSR) and business ethics. Can you help me?

[Pathak]

Corporate social responsibility (CSR) is a form of corporate self-regulation integrated into a business model.
CSR policy functions as a self-regulatory mechanism whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards and national or international norms
CSR strategies encourage the company to make a positive impact on the environment and stakeholders including consumers, employees, investors, communities, and others.

Business Dictionary defines CSR as "A company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates.

Companies express this citizenship

(1) Through their waste and pollution reduction processes,
(2) By contributing educational and social programs
(3) By earning adequate returns on the employed resources.

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 “right” and “wrong” and then making the “right” choice.
It is relatively easy to identify unethical business practices

The most direct benefit is reducing the likelihood of "dirty hands", fines and damaged reputations for breaching laws or moral norms.

Organizations see increased employee loyalty and pride in the organization