Ajay_Maheshwari_500_Module_8_Dec2

Ajay_Maheshwari_500_Module_8_Dec2 - Module81...

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Module 8      1 Module 8: Final Paper Corporate Social Responsibility and Business Ethics MBA in Finance (2010)
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Module 8      2 Abstract This paper discusses about corporate social Responsibility (CSR) and  Business   Ethics.   Corporate   Social   Responsibility   (CSR)   is   the   continuing  commitment   by   business   to   behave   ethically   and   contribute   to   economic  development while improving the quality of life of the workforce and their families  as well as of the local community and society at large. CSR, therefore means the  ethical   behavior   of   business.   Most   of   the   corporations   put   profits   ahead   of  honesty.  They lie to the consumer and falsely convey information because they  want more business. CSR is deeply connected with values, not with laws. Values  cannot   be   forced,   they   can   be   promoted,   taught   or   awaken.   Being   socially  responsible is a matter of culture and willingness, and not a matter of legislation.  It cannot be mandated, it has to come from within.                      .
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Module 8      3 Module 8 Deliverables Assignments:  Final Paper Corporate Social Responsibility and Business Ethics A corporation is born when a group of people invest their money in a business or  company; apply for a charter as a corporation, and the government issues a  charter to that corporation.  After they are issued the charter, they are no longer a  group of people.   They are defined as a corporation, and under the law, that  corporation operates as a legal person.   Corporate Culture refers to customs,  interactions, traditions, and achievements of a group of people.  A group’s culture  is a reflection of the group’s values and beliefs.  After this explanation, it is easy  to conclude that corporate culture is simply the way corporations act and interact  based on their values and beliefs.   At the very center of the corporate idea  through   its   culture,   there   something   called   corporate   social   responsibility.  Corporate social responsibility plays a significant and haunting role in the world of  corporate culture.
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Module 8      4 Corporate   Social   Responsibility   (CSR)   is   concerned   with   treating   the  stakeholders   of   the   firm   ethically   or   in   a   responsible   manner.   ‘Ethically   or  responsible’ means treating stakeholders in a manner deemed acceptable in  civilized societies. Social includes economic responsibility. Stakeholders exist  both within a firm and outside. The natural environment is a stakeholder. The  wider aim of social responsibility is to create higher and higher standards of 
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Ajay_Maheshwari_500_Module_8_Dec2 - Module81...

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