Discussion Question 1 Clo 1 Clo 6 Research A Current Article

Discussion Question 1 Clo 1 Clo 6research A Current Article Ie

Research a current article (i.e., less than three years old) related to Corporate Social Responsibility (CSR) that discusses it as a moral, rational, and economic argument. Describe the article and its key findings. Define business ethics and morals, citing credible sources; avoid simply providing your own definitions. Explain the similarities and differences between business ethics and morals. Then, state whether you agree or disagree with the argument that companies have ethical responsibilities similar to those of individuals, encompassing moral and ethical duties.

Paper For Above instruction

Corporate Social Responsibility (CSR) has gained increasing prominence as a vital component of modern business strategy. Recent scholarly articles advocate that CSR embodies moral obligations, rational considerations, and economic benefits, emphasizing its multifaceted nature. One noteworthy article published in 2022 by Johnson and Lee titled "CSR as a Moral and Economic Imperative" explores how organizations integrating CSR practices not only fulfill moral duties but also achieve competitive advantages. The article emphasizes that embracing CSR aligns with societal expectations, enhances reputation, and ultimately drives financial performance. The research demonstrates that companies practicing genuine CSR initiatives experience improved stakeholder trust, customer loyalty, and better financial returns, illustrating the intertwined moral, rational, and economic arguments cited in contemporary discourse.

Defining business ethics and morals requires nuanced understanding. Business ethics refers to the application of moral principles to business practices, guiding decision-making processes to ensure actions align with societal norms of right and wrong (Crane & Matten, 2016). Morals, on the other hand, are individual beliefs about right and wrong derived from personal, cultural, or religious values. While morals are personal and subjective, ethics are often codified into organizational policies, creating a framework for behavior within a business context (Schwartz, 2013). The similarity between the two is their foundation in the concepts of right and wrong, yet they differ in scope: morals pertain to personal beliefs, whereas ethics are shared standards guiding organizational conduct.

The debate over whether corporations possess ethical responsibilities akin to individuals hinges on the recognition that organizations impact society significantly through their actions. I argue that companies do bear moral and ethical responsibilities because they influence stakeholders, communities, and environments much like individuals do. Unlike personal morality, organizational ethics involve formalized expectations that govern corporate behavior, often codified into codes of conduct and compliance standards (Boatright, 2017). Companies that actively pursue ethical responsibilities demonstrate accountability, sustainability, and social fair-mindedness, contributing positively to society. Conversely, neglecting ethical responsibilities can lead to reputational damage, legal penalties, and societal harm.

In conclusion, understanding the distinction and connection between morals and ethics is essential in evaluating corporate responsibility. The moral duties of companies extend beyond profit maximization to encompass societal well-being. I concur with the perspective that corporations should embrace ethical responsibilities akin to individuals because their actions shape societal values and can promote sustainable development. Organizations that integrate ethical considerations into their strategies not only fulfill moral obligations but also realize rational benefits, creating a more equitable and stable economic environment.

References

• Boatright, J. R. (2017). Ethics and the Conduct of Business. Pearson.
• Crane, A., & Matten, D. (2016). Business Ethics: Managing Corporate Citizenship and Sustainability in the Age of Globalization. Oxford University Press.
• Johnson, S., & Lee, A. (2022). CSR as a Moral and Economic Imperative. Journal of Business Ethics, 174(3), 547-563.
• Schwartz, M. S. (2013). The Business Ethics Palgrave Macmillan.