Ethics in any form is a contemporary & hot topic these days. Ethics as we are all aware is defined as a moral philosophy or code of morals practiced by a person or group of people.
An example of ethics is the code of conduct set by a business.
Ethics can also be defined as the basic concepts and fundamental principles of decent human conduct. It includes study of universal values such as essential equality of all men and women, human or natural rights, obedience to the law of the land, concern for health and safety and, increasingly for the natural environment.
The meaning of social ethics refers to guidelines and principles that a group of
people have decided to reference to in order to be accepted.
All ethics are social ethics. While it has been convenient in the past to classify
different areas of ethics, distinguishing social ethics from other types of ethics, the
lines of demarcation between what is personal and what is social in ethical issues and questions have been blurred. The dualism of personal and social ethics is a false one. All ethical issues have a social dimension.
What it means to be Socially Responsible and Ethical?
Social responsibility is an ethical theory, in which individuals are accountable for
fulfilling their civic duty; the actions of an individual must benefit the entire society.
In this way, there must be a balance between economic growth and the welfare of
society and the environment. If this equilibrium is maintained, then social
responsibility is accomplished.
When do Social Responsibility and Ethics apply?
The theory of social responsibility and ethics applies in both individual and group
capacities. It should be incorporated into daily actions/decisions, particularly ones
that will have an effect on other persons and/or the environment. In the larger,
group capacity, a code of social responsibility and ethics is applied within said group as well as during interactions with another group or an individual.
Businesses have developed a system of social responsibility that is tailored to their company environment. Maintaining social responsibility within a company ensures the integrity of society and the environment are protected.
Corporate Social Responsibility
Corporate Social Responsibility, or “CSR,” refers to the need for businesses to be
good corporate citizens. CSR involves going beyond the law’s requirements in
protecting the environment and contributing to social welfare. It is widely accepted
as an obligation of modern business.
CSR goes beyond earning money for shareholders. It’s concerned with protecting the interests of all stakeholders, such as employees, customers, suppliers, and the communities in which businesses operate.
Examples of CSR include adopting humane employee practices, caring for the
environment, and engaging in philanthropic endeavors.
Some people contend that companies owe no duty to society outside making as much money as possible within the law. But those who support Corporate Social
Responsibility believe that companies should pursue a deeper purpose beyond
simply maximizing profits.
In summary, adherence to social ethics & social responsibility acts as a differentiator among organisations in today’s competitive world.