Business ethics &

social responsibility

Mahendran MBA, PGPM Narendra kumar MBA, PGPM

Introduction

Social responsibility and business ethics are

often regarding as the same concept.

However social responsibility is one of the

aspect of business ethics

Ethics is not just to operate the business with in the law.

The standards of conduct and moral values governing actions and decisions in the work environment

BUSINESSN ETHICS

Business ethics consists of

Social responsibility of that business supposed to have towards community

Company’s responsibility towards its share holders

Inter company dealings with negotiations

Stakeholder protection

The company fundamental practices

Business should behave ethically to achieve the above purpose

Why business ethics is important?

Public image

Investment

Partnership

The idea that business has social obligations above and beyond making a profit.

Business has an obligation to constituent groups in society other than stockholders and beyond that prescribed by law.

Contributions to the overall economy, job opportunities, and charitable contributions and services like education, sports and the environment

Organizations measure through social audits.

Social Responsibility

Common ways of doing CSR are

Why CSR?

Better internal and external relationships

It brings the consumer and produce close together

And in short term there will be a very few perceivable benefits in terms of profitable but these actions will serve to enhance the business brand and increase profitability over the longer term

Adds value

Example of CSR are,

Tata motors got golden peacock award 2004 for its valuable contribution towards economic development, community development.

Tata Consultancy Services-adult literacy programme

Tata Chemicals-rural development programme, etc,..

GAIL

Thank you

By

Mahendran - MBA (PGPM)Narendra Kumar - MBA (PGPM)

SMI Business School