A Conceptual Framework for Corporate Social Responsibility and Business Ethics

Abstract

In colloquial terms, "business ethics" typically refers to the principles and guidelines governing the conduct of businesses. Historically, it has been used to outline the acceptable and unacceptable behaviors for businesses, including adhering to laws, avoiding unethical practices, contributing to charitable causes, undertaking development projects in underserved areas, ensuring fair treatment of employees, and maintaining positive public relations. However, the concept of business ethics has evolved significantly in recent years.

Instead of merely prescribing dos and don'ts for businesses, business ethics now encapsulates fundamental beliefs about the role of businesses in society. There is a growing consensus that businesses have a responsibility to society and should fulfill this obligation in a transparent and easily understandable manner. It is widely acknowledged that businesses, as social entities, should not engage in activities that harm society or stakeholders.

This paper focuses on the shifting landscape from Corporate Social Responsibility (CSR) to a broader understanding of business ethics.