Ethical Behavior in Corporate Social Responsibility (Essay Sample)

Corporate Responsibility and Sustainability
Name
Institutional Affiliation
Corporate Responsibility and Sustainability
Businesses throughout the world have expanded over the years as a result of globalization, and they impact people’s everyday life in all possible ways. A lot of debate has been going on regarding the responsibility of a corporation. Some scholars are of the view that the only responsibility of a corporation is to generate profits and increase the wealth of the shareholders, while others believe that corporates have a social responsibility as well (Duska, 2000). They should give back to the community and society, in which the business thrives. There are several ethical aspects to look into while analyzing the topic of corporate responsibility and sustainability.
Corporate social responsibility for businesses have been made mandatory in several countries. However, in several cases it can be seen that there are ethical dilemmas while investing in such projects (Dunfee, 1991). Corporations tend to invest in such projects which can add value to their business in some way or other such as increasing their brand value, improving their public relations, attracting talented human resource, and getting regulatory favors. Hence, this leads to ethical dilemma that can be resolved through traditional ethical theories, which is a form of normative ethical theory. It believes in the absolutist point of view. Some of the ethical theories which can be applied in business context include self-interest, compassion, and duty to people. Stakeholder theory explains that apart from investors there are several other stakeholders of an organization such as customers, employees, environment, suppliers, and government (Goodpaster, 1991). A business should work in their interests as well. Compassion is an ethical perspective which urges companies to be compassionate and humanitarian in their d...