Ethics and Social Responsibility of Business: Moral Marketing Compass

Social Responsibility Of Business
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Social Responsibility of Business Companies or business firms that make sure they give back to the community or decreasing the negative impact of their firm on the environment usually benefit from more allegiance from their clients than those that don’t. Most of the businesses acknowledge the significance of being environmentally and socially conversant, thus they do advertise charitable programs, which include yearly fundraisers for example to support the less fortunate in the society, or a volunteer program that the staff has worked on (Nicole, 2017). Each and every business plays a great role towards the society which it operates in. This in return it determines its success or failure, therefore social responsibilities of a business comes in and it is hence defined as the concept whereby a business balances activities which are making profit and assisting the society or rather the community which it operates in (Investopedia.com, 2017). According to Stevenson, social responsibility matters where all stakeholders in a business want to understand and value the mission of the company, and why they should support and invest in it (Post, 2017). The level for social responsibility is contained in ISO 26000 (Peter, 1975). Firms and employees have a task to ensure that their activities do favor both the society and the environment. In order for a business to carry out their activities in a smooth and effective ways ISO articulates that every company ought to have a good relationship with both the society and the environment. Companies which handle their employees fairly and ethically, can also do show that they are social responsible (Jennifer, 2017). Moreover, CSR has another advantage which aids companies in establishing a good repute, this encourages investors to put more investments and customers also tend to buy or rather seek goods and services from the firms where CSR is more persuasive. Social responsibility becomes more efficient when a business firm practices it without being forced or voluntarily, more than when being pushed by law or a regulation. It also enhances the firm’s or business spirit to be higher, and this is particularly seen when a company is capable of getting buy-in from its workers and dynamically involving them in the social cause of the firm. According to Friedman he believed that only persons can portray a sense of being socially responsible, but businesses themselves cannot this is due to their nature (Investopedia.com, 2017). Few professionals have gone to the extent of believing that CSR has ignored the main aim of setting up a business which is to make profit. For making smart business decisions, wise people do put into account the impact or the consequences of choice they make today and its future results on the society and people and concerning on the speculations of the customers. Therefore, businesses are not just a matter of how much money you make. Involving any business with social responsibility acts assist persons, firms, and governments in achieving a great improvement in their developments. In most cases good business results or investments are as a result of incorporating social responsibil...