ETHICS AND SOCIAL RESPONSIBILITY

Ethics and Social Responsibility

Ethics and Social Responsibility

Our world is made up many different groups, with their own moral norms and there is no way to choose between these competing sets. Therefore, social responsibility requires business to determine what is right or wrong and to make ethical decisions and engage in ethical business activities. Socially responsible firms should behave in a right way, because they have an obligation to act that way.

In contrary, "social responsiveness refers to the capacity of a firm to adapt to changing societal conditions" Generally, social programs add costs to a firm, but these can ...