CSR Issues and Business Ethics: A Critical Analysis

Running head: CSR ISSUES
CSR ISSUES
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CSR ISSUES1
Introduction:
The aim of this report is to discuss the ethical issues that the business these days face
while operating in the local as well as the international market. This paper will be using
ethical theories and models from the business ethics literature and critically analyse a
contemporary business ethics issue relating to the corporate social responsibilities. In this
business context, the corporate social responsibilities have become a necessity. This is due to
the fact that the customers and other stakeholders look at the companies whether they are
performing responsibilities of the societies or working only for the profit of themselves. In
the modern business context, the profit maximisation through business is not the criteria for
gaining support from the stakeholders but the corporations need to go out of their profit
making interests and act for the wellbeing of the communities. Now the business which does
not follow this principle has to face a wrong feedback and negative effect on the business.
This paper will be discussing the Rana Plaza incident in which a large number of workers lost
their lives due to the company’s lack of responsible measure.
Business ethics:
Business ethics as well as the corporate ethics are types of applied professional ethics
which examine the moral and ethical principles, arising in the business environment. This
applies to every aspects of the business conduct and relates to the conduct of the employees
or other stakeholders associated with their organisations (Chell et al. 2016). These ethical
issues originate from the organisational statements, individuals associated with the companies
and from the legal systems (Crane and Matten 2016). These values, norms and ethical
practices are actually the principles which guide the businesses for developing itself in an
ethical way. This also help the businesses for maintaining better relation with the
stakeholders.

CSR ISSUES2
Business Ethics related to the contemporary organisational principles, standards and
sets of values which govern the organizations’ actions as well as the attitudes of the
stakeholders in the business settings. The business ethics have to main dimensions which
includes normative business ethics and descriptive business Ethics. As the corporate
practice as well as carious regulations the field is primarily normative (Pearson 2017). On the
other hand academics attempt to understand the business operations behaviour through
descriptive methods. The quantity and range of the business ethical issues can reflect the
interaction of the behaviour of the companies relating to profit maximization and non-
economic concern.
Ethical theories:
In order to understand the ethical business practices, there are several ethical theories
to be discussed. The utilitarianism and Kantian theory, virtue ethical can be mentioned in this
process.
Virtue ethics can be one of the most important moral philosophies which guide the
companies to follow and legal framework to complete actions are make decisions. This is a
part of normative ethics that is associated with the individuals and organisations questioning
virtues and morality. This emphasizes on the moral duties as well as consequences of the
actions. The virtue ethics supports the fact that the process of helping people India needs
must be charitable. Under this particular framework the companies need to support others
(Wood 2017). The virtue ethics discusses the moral philosophies which are followed by the
individuals to regulate their enthusiasm. If the people want that the environmental factors will
come into their favour, they must initiate positive actions beforehand.
The utilitarian theory of Business Ethics is a part of consequentialism. This states that
the results are consequences of any decision or actions are the standard of wrong and right.