Ethics and CSR in Business

ETHICS AND CSR IN
BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Understanding Dynamic and Changing Nature of Business..................................................1
TASK 2............................................................................................................................................1
Identification of need for Individuals and Organisations to manage responsibly and behave
ethically..................................................................................................................................1
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Ethics refer to the moral values, principles and belief systems which are adopted by an
organisation. On the other hand, Corporate Social Responsibilities are ethical frameworks and
practices that must be adopted by a company in context with fulfilling their social obligations
towards society (Kolk, 2016). The report below is based on explanation of dynamic and
changing nature of business and considerations of future of organisations within global business
environment. Moreover, it also covers discussion on reasons why it is important to manage
responsibly, sustainably and behave ethically.
TASK 1
Understanding Dynamic and Changing Nature of Business
Regardless of the sector, the business environment of an organisation is quite dynamic as
there are certain elements and factors which changes quite rapidly and drastically with change in
time, such as technology and customer preference. Thus, such shifts in the environment require
the companies globally to adhere to several ethical principles and corporate social responsibility.
The future of organisations would require organisations to modify the micro or internal business
environment in ways which appropriately helps in compliance with the corporate social
responsibility. For example, an organisation such as The Ledbury within the UK must formulate
their organisational culture to instil values like transparency, consideration of ethical framework
of other nations as well as adherence to values of the nation in which the firm serves (Tormo-
Carbó and et. al., 2016). Such culture and structure within the macro environment of the
company would help organisations in adhering to principles of corporate social responsibility
within the global business environment.
TASK 2
Identification of need for Individuals and Organisations to manage responsibly and behave
ethically
There are several issues within the macro environment of a business organisation which
are required to be adhered in order to ensure that the ethical framework is followed by a
company. Furthermore, there are several reasons as to why it is important to manage responsible,
sustainably and behave ethically in relation to several social, cultural, economical and
1