C/B/701. Corporate social responsibility and business ethics

This paper presents arguments in favour of corporate social responsibility and business ethics. It explains the key terminologies and examines agency theory in corporate social responsibility. Importance of stakeholder theory is emphasised. The paper argues that corporate social responsibility and business ethics need to be collectively promoted. It highlights legal requirements and duty of care as important social controls which provide grounds for business decency. The paper argues that business will realise higher sales and profits if it adopts corporate social responsibility and business ethics as a marketing strategy.