Week 7 Homework - CORPORATE SOCIAL RESPONSIBILITY AND ETHICAL DECISION-MAKING Corporate Social Responsibility(CSR is the commitment by organizations to

Week 7 Homework - CORPORATE SOCIAL RESPONSIBILITY AND...

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CORPORATE SOCIAL RESPONSIBILITY AND ETHICAL DECISION-MAKING Corporate Social Responsibility (CSR) is “the commitment by organizations to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as the local community and the society at large” (Johnson, 2014, Pg. 127). It is concerned with what organization has to give to the community. CSR always tends to balance the interest of the community against that of stakeholders. Ethical decision making on its own tends to provide a guide for right conduct in taking decisions in a group. An ethical person is one who has the virtuous habit like good temper, courage, honor, justice, truthfulness, etc. Business ethics deal with matters related to virtues while CSR usually focus on the exercise of corporate power. According to Sinonen, T. (2007), the more ethical any organization is the higher chance for it to be responsible, sustainable and profitable. CSR, he added, encompasses business ethics as a key factor.

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